At what age did you became financially stable?

@caliya (1175)
Philippines
August 30, 2010 8:34pm CST
Do you still remember at around what age did you really consider yourself financially stable? I am now in my late 20's and I still do not consider myself financially stable. Why? Because I still live paycheck to paycheck, I have debts to pay and I don't have any savings yet. I have really been trying so hard to be financially stable pretty soon. How about you? Please share your thoughts and experiences. I would really love to hear from all of you.
3 people like this
17 responses
• China
31 Aug 10
I think it will be happened after I married. At that time, I wish I and my husband can have a stable financially for our family.
1 person likes this
@SomeCowgirl (32276)
• United States
31 Aug 10
I am not sure how life is in China or the expenses you pay now, but start saving now before you get married because after you get married you'll be paying more bills and so won't be able to save as much.
@chiyosan (29392)
• Philippines
31 Aug 10
hmm.. I started to work when I was fresh out of college. we badly needed the money coz we were barely eating 1 meal a day... it was just 1/3 of what i was getting now but back then it seemed sufficient. hehe i was 21 that time. a few years after, the salary doubled... we transferred to another place near my brother's work and i think it is fair.. we can now buy stuffs for ourselves, we got a better place to stay... now i have transferred to my 2nd job and the salary i got from before has tripled and i can say, that if the money is all to me, i would be having quite a huge savings ! :D but anyway, i'd say my income is stable, the companies im working/worked for is stable and they have never failed a single paycheck so im hopeful...
1 person likes this
@CatGods (4599)
• United States
31 Aug 10
I became financially stable decades ago. I started working doing odd jobs at the age of 10 years old. I saved my money and when I wanted some thing, I waited for it to go on sale. I have no credit cards, no car payments, no house payments. If I don't have the money to buy some thing I want, I wait and save for it. I buy extremely little of the wants. I mostly only buy what I need. People always think that they got to have "stuff" but they don't. I even considered going back to school for computer programming and then decided not to because I can teach myself. College is over priced and over rated any way.
@caliya (1175)
• Philippines
31 Aug 10
Your story is indeed very inspiring. I hope that I will soon gain financial stability and ignore all the material things that are not really needed and focus instead on saving money.
@sid556 (31023)
• United States
1 Sep 10
Hi Caliya, Well, I hope you are more successful than I've been in when it comes to financial stability. I am 54 and still live paycheck to paycheck. I just can't seem to get ahead of the game when it comes to that. I would have thought that once my kids were grown and independent that things would have become easier but that has not happened. The economy went bust right on cue so I still struggle. It's a way of life at this point.
• United Arab Emirates
31 Aug 10
I was financially stable when i was 25. I had a good job and i was with my family. I had no problems with finance whatsoever.
@angelface23 (2502)
• United States
31 Aug 10
oh wow. I am almost 30 and I am no where near being financially stable. I have a lot of debt. Maybe $10000. When I was younger I had a few credit cards that I didnt pay off cause I wanted to party all the time. I was just young. Now I am married with two kids. We are on limited incomes and dont have extra money to pay things off. It may be in part that my husband is in and out of jobs all the time. I am going to be starting a new job in sales which is of course commission only. I am hoping it works out cause it would be a new level of income for us and hubby wouldnt even need to work. He could be my "manny"! I have a 5 year plan though to pay off most of my debt and get my credit score up so we can buy a house and a new car. It's hard though cause we can't seem to save any money. I have been trying to figure out why we can't do it but I haven't been able to come up with anything.
@juggerogre (1659)
• Philippines
31 Aug 10
I'm also still not financially stable. I want to be financially stable by the time I reached 30. I'm starting to save now. Part of my monthly income is automatically deposited to my other savings account. After I have accumulated about 3 months worth of income in my savings account I'll start saving to start some investments. You should try researching about Mutual Funds. Its a great way to start saving up for your future.
• India
31 Aug 10
It was in my early twenties when I started getting fellowship. Since then I consider myself to be financially independent even though I have to ask my parents to help me now and then in the beginning. Same here too I have to live form paycheck to paycheck each month since I am staying on rent etc etc. But I have little savings which I save each month. Good thing is I am happy with what I have!
@dheckerz (473)
• Philippines
31 Aug 10
I had my first job two months after my graduation that was 6 years ago. I'd say I became financially stable three years ago that is when i started to keep some of my pay and not having to spend too much. I just spend something for what is really in need. I go out sometimes but not as often as I wanted and then i got use to this lifestyle and was able to keep a bigger amount of my salary.
• India
31 Aug 10
I don’t think many of us ever reach financial security. With money being devalued regularly, only those who have inherited money or property, can truly call themselves as financially secure. For the rest of us, life is full of insecurities and struggle. No matter how hard you work, I think it will never be enough to make you feel completely secure. My Dad is around 60 but he still works so hard throughout the day…my mom’s retired recently and with coming old age, they really don’t know how much money they’ll need in the coming years! So don’t worry…make a habit of saving a little every month…make it compulsory saving, not whatever you feel like…you’ll not even notice it but in a few years, you’ll have something in the bank for a rainy day.
• Philippines
31 Aug 10
Well for me, financial stability is like leveling yourself if you are working or have business and you can afford to have a house, a car and was able to pay the monthly bills associated with it, then I may say that I'm stable. But you know I almost got everything a year ago but since my business was destructed by the typhoon, I'm on a great sadness right now. But I'm starting to pick up the pieces again and going back to business this September. Hoping that it will be alright to start again.
@stealthy (8158)
• United States
31 Aug 10
It really depends on what you mean by financially stable. I was still living at home when in college through my masters degree in my mid twenties and thus had no expenses for housing and the meals I ate at home. But I was paying for my tuition and all the meals I ate away from home and clothing was kind of equal between me and my parents. Then I was drafted and lived off of what the Army provided, food, pay and clothing. After the Army I went back to college and paid my own way from the GI bill and the money I earned from research grants until I got my Ph.D. at around 30. Then I got a job and was really financially secure, especially when you consider that I am very frugal and, once I had the job, I started saving at least 20% of my income each year. Now I have been unemployed for over 20 years after being laid off due to cut backs where I worked and have been living off of the income from my investments that I made with what I saved during the over 12 years that I worked. I am still financially stable, own a home and have no debt other than the mortgage on the home. So you just have to live frugally and within your means starting early and that is the best way to become financially stable.
@p3ks626 (6552)
• Philippines
31 Aug 10
I am 27 years old and I cant tell for myself either that I am already financially stable. I do have a job but its not the kind of job you can be proud of cause our boss is so selfish we dont even have benefits from it. I am hoping that I get a better job in the future.
@jaiho2009 (36768)
• Philippines
31 Aug 10
Until now i can say that i am not financially stable. I am a single mother working and having 3 kids to take care of their needs and studies. But i can say that i am not into financial shortage too. I am earning enough for me and my kids. Maybe when my kids finish their studies and had their own job then,i can say that i don't have to worry much about money. For now,i am not financially stable.
@joyce318 (139)
• China
31 Aug 10
It depend on many situations, your salary, your work and your consumption. Generally speaking, after marriage it will more stable than before. Being a family will make you understand the duty and responsibility, thus you will think about saving money for future life and your children. As a unmarried woman, no responsibility to family, just only yourself. So luxurious products are bought and can not control to waste money by the way of shopping, dinner and party. From now no, I want to save money by reducing overfull activities. Because I want to have a state with financial stability.
@incus99 (1086)
• Philippines
31 Aug 10
technically you don't... once your income gets higher by your demands and your lifestyle increases with it too... the longer you stay employed the more you depend on your income... the more you do that, the more you realize that you can't live with it... The fastest key to stability is to start your own business, incomes are exponential and you may never retire from it...In our country in the Pilippines, only 2% can really make it on or before 35 years of age.
@SomeCowgirl (32276)
• United States
31 Aug 10
I am not sure whether to consider myself and my husband as being financially stable or not. There are different definitions of Financial Stability and depending on who you talk to, each definition will be a bit different, if not some being the same. I think that my husband and I will be financially stable when we have our own place and get in the groove of paying the bills associated with it, as well as still being able to save a little bit each month.