Financial security is the ability of the salary, the income (and also the assets if any) to be sufficient for a respectful living, the ability to save for a time of need or for a situation where I cannot work for a period of time, it can be actual and it can be a feeling and it is affected by macroeconomic factors over which we have no influence About them (such as the war in Russia, a shortage of certain grain and price increases, changes in interest rates or the weakening of the currency, etc.) these fluctuations affect the value of my money and the amount of items I can purchase with the same unit of money. In Israel today, the amount of the average expenditure per household is greater than the level of income, therefore many young people do not have financial security or the ability to save or create financial well-being for themselves and they rely on their parents and live on the side of the deficit in the bank.
Other important things in financial security:
Financial security has been defined as a situation in which at any given moment you have the ability to spend 3 months' salary in times of need, otherwise the risk of falling into debt and debt of interest and de-interest may be dangerous.
Marianna Matzukto (an imaginary economist you should read about) in her book "Poor Economy" diagnoses the "savings muscle" This muscle is exhausted from being educated in poor people and it is difficult for them to maintain financial plans so that as soon as a sum of money arrives it is often wasted and therefore it is more difficult for them to save and create plans for the long term (link to Mazukto's book)
Economic security exists not only from a sequence of work, employment security and salary that allows savings beyond expenses is very much related to assets and inheritances.
Kommentarer