Attaining financial stability isn’t bound by age

Many people (like me) have or had the notion that saving money and being financially stable comes with age. While that is true to an extent, it is also true that financial stability can come with any age, provided that you have the will to save the money you are earning.

Youths nowadays have become very alert with the kind of expenses they are indulging in, especially when it comes round to the future plans that they have.

If you plan on buying a house 5 years down the line, you need to start preparing from today itself because much like how Rome wasn’t built in a day, your house won’t be as well.

But, the process of preparing your mind and then actively setting aside a set amount for savings can be a pain for some. I am not saying this because they don’t want to save the money but because not everyone is blessed with a surplus salary to base their life on.

This is where I learned how budgeting works, even when you are earning peanuts.

Today, with my efforts and my hard work, I am earning well enough to at least save a minimal amount that would later come in handy when I need it the most. But, that doesn’t mean that I was able to do so when I first started out my career (much like you).

Irrespective of what your job profile is and what kind of money you are earning, saving at least 10% of the salary will later prove beneficial for you in the long run. You wouldn’t even realize how important it is to have financial stability.

Why is attaining financial stability important?

When I first started out my professional career as a freelance content writer, I was very skeptical of this profession because of the instability in the income.

Content writing jobs pay you well, provided that you have networked with the correct resources. You can’t necessarily save money if you are not even willing to consider it as a possibility in the first place.

Gaining financial stability ensures you a bright future, less stress, and happy life.

Nobody is asking you to earn millions and save thousands, I am asking you to save as much as your income permits you.

I have literally come across people who go to wit’s end to save money and end up depriving themselves of the basic necessities and happiness that they can actually afford. This is something I am not a preacher of.

When it comes to savings, it should always be done only after you are done with the necessities that you need in life. At least, that is what I believe in.

How can you do savings even on a small salary?

This is something that I often used to get asked by some friends back when I started working. I have been actively working for 4 years now (freelancing included), and I might not have a lot saved or nothing, for that matter, but I have learned the importance of financial stability along the way.

Much like the majority of the people reading this post, even I belong to a middle-class family with an income that got us by. I never dreamt of earning a lot – rather, something that would be enough to suffice me and my family’s existence in a smooth way.

My main aim of earning was to provide my family with a financially secure and stable life. I have just started to prosper with my goals and I have faith that I will be able to acquire them in the coming years.

That being said, through all these struggles, I have learned how savings can be achieved.

If you are here stuck on a meager salary and still want to save even from that, I do have some insights to share.

Don’t get into EMIs

I hate the word EMIs. While many often do find it convenient, it is possibly one of the biggest money suckers.

You won’t even realize and it will drain out your entire month’s salary. I can tell you this because I myself pay EMIs that I have lost count of. It is tough staying outside alone on a fair salary when you know that more than half of it is going to go out because of the EMIs.

So, if you want to save money, I would suggest you avoid getting into EMIs. For the most part, it is easier said than done but trust me, save up enough to buy the thing that you want to get on EMIs. It is a lot less hectic on your bank account and helps get you the satisfaction of saving money out of the salary too.

Recurring deposits

This is possibly a life savior for me. I used to have a very hard time saving money but now that I have started understanding the value of it, I have traced ways that will make me obligated to save.

Recurring deposits are one such method.

You can start a recurring deposit at any of the banks you like or even check for the rate of interest they provide by the end of the term. Make sure that you do look through all the terms and conditions before registering for one.

Always link the savings account with the recurring deposit account, so that way you are obligated to pay because the money will be deducted directly from the savings account itself.

This is something that I personally do and let me tell you, this is an amazing option for the ones who have a hard time “saving” money.


In today’s world, people say that money saved is money wasted. Why, you ask?

Well, if you want financial stability and if you want your money to grow, it is important to invest. I am not that good into investing because I am still learning the basics around it.

The last thing that I want is to end up investing my hard-earned money only for it to go to waste.

Mutual funds investment (for the long term) is an amazing option. I have seen people close to me multiply their money over a period of time with this.

Given how fast the people speak the terms and conditions surrounding this, I am still educating myself around the basics of it. But, I am also thinking of investing in it in the coming days once I have a better knowledge about the market and the risks associated with it.

When it comes to financial stability, it is important that you focus on saving as little or as much from your income that you can. Thinking that you have the entire life ahead of you to save money can be a struggle when you reach a later stage in life. It is why it is best to always start early.

6 thoughts on “Attaining financial stability isn’t bound by age”

  1. loved it. Its sad we are never taught the basics of something as important as savings and investment, back in school. I am literally struggling with this problem myself (*midlife crisis*) …. Please write up more on important topics like this!

  2. Its such as you learn my mind! You seem to understand so much about this, like you
    wrote the e-book in it or something. I think that
    you could do with some p.c. to power the message house a bit, however instead of that, that is wonderful blog.
    A fantastic read. I will certainly be back.

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