Where do you stand?

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width= I took an economics class from the Utah equivalent of Dave Ramsey (except she had the power to give failing grades – so she was scarier). Though my husband and I have long been practicing sound financial principles, she gave our systems names and helped me make sense of what we were doing and why. Plus, I later discovered that the instructor and I were twins separated at birth – nothing else could explain how much we have in common – but that’s another story for another day.

Here is one of her key lecture points that has stayed with me (correct me if I get it wrong Mz. Spencer). Ask yourself where you are on this goal scale:

Are you Financially Independent? This means you have started your own financial life independent of your parents.

Are you Financially Stable? This means you are managing all of your financial resources effectively, but you’re unprepared to meet financial emergencies.

Are you Financially Secure? This means you are doing all of the above but also have the ability to manage and absorb financial emergencies.

Ideally, you’d move through each of these stages in chronological order. However, if you’re independent of your parents but relying on debt from a credit card company, then you haven’t even reached financial independence yet.

Don’t you think it would be great if you were financially secure enough to pay for those needed new tires without it turning your financial world upside down? What is standing in your way?

My husband and I tend to fluctuate between financial stability and security. I like security better. You?

About the author

Laurieann Thorpe


  • Helpful stuff! Thanks. I like the constant encouragement to stay on track. We read Dave Ramsey’s books also, and it can be really hard to stay the course, isn’t it ? I’m hoping that we’re in the final stage, but the emergency fund is not at 3 months yet.. like he recommends.

    Organizing Mommys last blog post..Wordy Wednesday..

  • I love that you keep on mentioning that fabulous economics class that you took on your blog. It’s great PR for the University of Utah! And I like security better, also. Permanent financial security is a great goal to work towards. You go, twin! (oops, I mean – you go, girl!)

  • Thanks Organizing Mommy!

    Heather- Yes. It is fab PR isn’t it? Because I’m just so sure there are like 500 U of U students reading my posts and that your class enrollment has like tripled just because of the way I treasure my lecture notes right? P.S. sitting by the phone RIGHT NOW! Taxes for 2009 still not done – do you feel ANY guilt about that?

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