When it comes to managing your finances, being stable means the world. Security protects your finances, stability allows you the ability to meet your goals.

Stability is rather simple. It means that you are living not within your means, but below your means. There is money left over after the bills are paid. You don't spend any more than you earn. No charging on credit cards. No facing overdraft fees. No wondering if something will hit the bank before your paycheck. No paying a bill a few days late.

When you are stable, you don't have to dip into your savings, your emergency fund or turn to a credit card. You can have debt, but make sure that it is good debt. And by good debt, I mean debt that you can afford. This includes a modest mortgage and wise automobile loans. But keep in mind, becoming debt free should be a goal that you are working towards.

When you are stable, you don't purchase things thinking you will have the money later. If you don't have it now, you don't buy it now. Getting out of debt is a priority.

Reports indicate that the average American has over $7,000 in revolving debt, including store accounts, credit cards and rent-to-own. These accounts charge high interest and are really risky. They are easy to use and hard to pay.

This is where a budget comes in. You need to track your expenses religiously. The budget will let you see where you can cut costs. It will really let you know where your money is going. It can really open your eyes.

Make a plan to cut your spending as much as possible. Then make a plan to pay off your debt. Simply list your debts from highest interest rate to lowest. Start paying them off by just going down the list. You may have to get a second job or sell something in order to make a dent. But add up all those minimum payments. Do you want to pay that out for the next thirty years? Then pay them off. And that money will be yours, not the credit card company's.

Stability blends with the next area of finance: growth. Stability is often found in growth. You have to grow your knowledge of finances in order to remain stable. In reading this article, you are already working in two areas of your finance.

Take steps to make sure that you are financially stable. Budget, keep your job, don't go crazy and blow everything you have by getting in debt. Stay informed and stick with the plan. In the long run, your entire life will benefit from stability.