THE CITIZEN

  How to achieve financial stability To help you achieve financial stability, here are some steps you can take: Make a budget : Track your spending and income to understand where your money is going and where you can cut back. Reduce debt : Pay off high-interest debt first, such as credit card balances, and avoid taking on new debt. Build an emergency fund : Aim to save 3-6 months' worth of living expenses in a savings account. Invest in retirement: Start contributing to a 401(k) or IRA to take advantage of compound growth over time. Diversify investments : Spread your money across different types of assets, such as stocks, bonds, and real estate, to reduce risk. Avoid lifestyle inflation : Don't increase your spending just because you have more money. Seek professional advice : Consult a financial advisor to ensure you're on track and to get advice on complex financial decisions. "Remember, financial stability takes time and effort, but following these steps can help...