Finances Within the Family

 Fiances have a huge impact on a family and can lead to great security within a family or it could lead to insecurity. I'm going to go through the positives and negatives of being financially stable and being financially unstable. But before I get into those, I know that money isn't everything to a person or even to a family. Being financially stable does have its benefits of less stress, which leads to more happiness within the family. I'm not saying that families that are financially unstable aren't happy. I know many families that aren't stable but are really happy with what they have and take the challenge on together. There have been studies of how families that are financially stable have more of a positive lifestyle and, in some ways, are happier.

Before we get into the benefits, let's define what it means to be financially stable in the United States of America. It simply means that you have control over your money and that your finances can withstand the good and bad things that can happen in the economy. Most Americans are financially stable, but debt has been on the rise for many years now. Let's get into the positive things that can happen if you are in control of your money.

First, you have better overall mental health. Finances can be a strong stressor for you and your family. Overbearing stress can lead to poor mental health, like depression and anxiety, and could even lead to sickness. When you are in control of your finances, you are less stressed. As simple as that. So, I'm currently a poor college student who has some student loans, working 20 hours a week and also going to school full time. I've never stressed about my finances more in my life. I know that I'm not the only one when I say that if I was financially stable, I would have a lot less stress in my life. 

Second, it creates stability within a family. I grew up in a household that wasn't at times financially stable, and as a kid I felt the stress my parents were going through. I have 10 siblings, four biological and 6 step, and my parents were struggling to provide. It caused a lot of contention and a lot of turbulence in my family and sometimes still does today. As a kid, I looked at my friends' families who were financially stable, and I could tell the difference. Don't get me wrong, I really appreciated all that my parents did for me, but there definitely was a different personification within the family. 

Now, there are obviously more benefits to being financially stable, but let's get into some of the negatives of being financially stable. I know that sounds really weird, but not all things are perfect, so there are some downsides to being financially stable. If you don't agree, that is totally fine with me. No problem there. This is only my perspective that isn't backed by research, so here it goes! Being financially stable could lead to your kids being spoiled and entitled if not raised correctly. It could lead to overspending, which leads to debt. It could also lead to pride. I think pride, in any circumstance, is a bad thing. 

Being financially unstable has a great negative impact on the family. Basically, it leads to the opposite of being financially unstable; poor mental health; stress; and low stability in a family. This could also lead to poor education, because in the poorer neighborhoods there are schools that don't hire the best teachers. In some cases, the children in the family will need to work to lighten the load of the parents or even work because the parents don't work. Being financially unstable could also lead to more crime.

Well, thank you for reading and I hope you have a great day!