A common misconception is that because a person is able to save a little money and make all of their bills that they have good personal financial habits. However, this is completely wrong, just because you aren’t living paycheck to paycheck doesn’t mean that you are in good financial standing. A person that has good money management skills, is able to pay all of their bills, while also saving and being able to spend money at the same time. This person will not be worried about their financial funds and be secure in their financial standing no matter the situation.
Not to mention, this financially healthy individual will be governed by a budget. Their budget will be concise and detailed, outlining each expenditure and planning for any extra expenses. A budget is key when it comes to be financially stable and having success in the future.
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