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How to make sure you will be financially stable?

Do you need to finish high school to be
financially stable? Or would getting your GED make you equally as successful and stable in the future? How long would just getting your ged take

career money finance
Thank you comment icon Hello, Please, note the following, concerning how to be financially stable :- 1. Depends on the type of business. 2. Faithfulness and Diligence in your activities. 3. Good knowledge in the business. 4. Favourable marketing and economic conditions. 5. Favourable government policies. Best regards. Anthony Kofi Hene-Amoah
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Kenji’s Answer

Hi Giavonna,

Achieving financial stability is a key part of life. One of the biggest steps I took towards this was minimizing debt as much as I could. If you find that you can't afford something outright, it might be best to pass on it. Making numerous payments, particularly on items that lose value over time like cars or boats, can trap you in a cycle of living paycheck to paycheck. Once you're comfortable living within your means, it's a good idea to start setting aside some savings and think about investing for the future. It might seem tough right now, but trust me, it's worth it in the long run.

If finishing high school isn't possible for you, don't worry, a GED is a fantastic alternative. Don't let anyone make you feel less for choosing this path. I can tell you from experience, no one has ever asked to see my high school diploma. In the grand scheme of things, a high school diploma and a GED are viewed as equals. So, if high school isn't your thing or just didn't work out, go ahead and pursue your GED. After that, the world is your oyster!

Wishing you all the best!
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Judith-Ann’s Answer

Hello, Giavonna. Financial stability has many definitions. For me, I found that financial stability needed these components: 1) a good steady income that allows me to enjoy my home, clothes, food, and transportation 2) Living within my means which is determined by my income 3) Saving account for emergencies or loss of job. 4)Investment accounts for retirement 5)Savings accounts for vacations 6)being able to give to the less fortunate. 7)Not accruing debt with credit cards.
To get this stability, I received degrees from High School and College -Bachelors and Master's ,and Continuing Education Webinars and Workshops. I encourage everyone to stay in school to give themselves time to mature and meet a variety of people from all walks of life.
This is the way I did it, but as you know you must find the path that suits you. I wish you well on this awesome adventure of life.
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David’s Answer

Hey Giavonna,

To obtain your GED, you take a series of tests that covers what you would learn in High School. So determining how long it will take to obtain your GED would depend on if you need to study to pass those tests. I would suggest staying enrolled in school if that is an option for you.

Financial stability is completely dependent on your lifestyle choices. You need to understand that your source of income (job) is the biggest factor in that. Budgeting is very hard to do if you are not used to making important financial decisions. Differentiating between wants and needs is a big one.

I know people that are successful that have obtained their GED but it was not an easy path for them. Everyone's situation is different, but again, if you have the opportunity, I would advise staying in school & properly plan for the future. I hope this helps.
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Terry’s Answer

Gaining financial stability can be achieved with varying levels of education. You may have more of an opportunity for additional income with additional education, however, an individual's motivation, attitude and drive can impact their success. There are many success stories of individuals starting out in a stock room and then working their way up the corporate ladder. Regardless of education and income, to achieve financial success, it comes down to spending less than you make and saving the rest! Start saving early and pay yourself first. Make savings deposits automatic so you spend after you save. Consider this quote from Warren Buffett, "Do not save what left after spending, but spend what is left after saving."
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Richard’s Answer

Start saving for retirement as soon as you are able. Mutual fund, IRA, anything: Time is your friend here, and the sooner you start the better off you will be.
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Amalya’s Answer

Hi Giavonna,

Although nothing is guaranteed in life, in many cases, it is predictable. To become financially stable, one of the best ways is to have a regular job. To achieve that level, in many cases academic degrees are required. So it will be a good option to get relevant education and then to start finding a job.
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Jaime’s Answer

The most valuable tip I can share with you is one that my husband and I have consistently applied in our lives, and it has proven to be incredibly effective. When it comes to purchasing items that aren't absolute necessities, such as a house or a car, avoid making payments. Instead, ensure you have sufficient savings to cover the cost before making the purchase. This approach has been instrumental in preventing us from falling into significant credit card debt. Sometimes, it means we have to hold off on buying what we desire immediately, but the patience pays off. With each passing day, the prospect of a comfortable retirement becomes increasingly achievable.
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