It's a slippery notion, all right, but it does have a few characteristics you can grab on to. You need a steady source of income . This comes from your job, or your business if you're self-employed, or investments if you're fortunate and alert. Future income is the bedrock on which financial security is built. You need financial reserves .
Cars break down, household appliances wear out, roofs spring leaks.
Kids aspire to college educations, and someday you'll want to retire. These are expenses you have to provide for with savings and investments. You need protection against financial catastrophes . In a word, this means insurance. You need it in sufficient amounts to cover your life, your health, your ability to earn an income, and your family and your possessions.