What can be an outcome of effective money management skills for individuals living independently?

The outcome of effective money management skills for individuals living independently is improved financial stability and self-sufficiency. When individuals can manage their finances well, they become adept at budgeting, saving, and making informed spending choices. This leads to a clearer understanding of their financial situation, enabling them to plan for future expenses and emergencies, thereby fostering a sense of security.

Financial stability allows individuals to live within their means, avoid debt, and have the potential for building savings. This self-sufficiency means they can more confidently handle their day-to-day expenses, contribute to their communities, and pursue personal goals without overwhelming financial stress. Overall, good money management empowers individuals to lead a more independent and fulfilling life.