TMCC Financial Literacy Guide

8 DEVELOPING FINANCIAL SECURITY Financial security means diferent things to diferent people. Generally fnancial security means that you have peace of mind that your fnances are in order and you don’t have to worry about money. Often, this means having enough income to comfortably cover expenses, remain debt-free, and have savings for emergencies. For some it can be tied to dollar fgures such as how much you earn or spend, and how much you have in savings. Financial security is also how you feel about your fnancial situation . Here are three types of fnancial security to help you defne what this term means to you. Being Debt-Free It’s hard to feel fnancially secure when carrying signifcant debt, although some types of debt are necessary. For example, very few people have the capital to pay for a house