facebookHow do i know if i'm doing well financially? What are some signs or indicators to look out for as indicators that i'm doing well or doing fine at least? - Seedly

Advertisement

Anonymous

28 Aug 2023

Adulting

How do i know if i'm doing well financially? What are some signs or indicators to look out for as indicators that i'm doing well or doing fine at least?

Discussion (28)

What are your thoughts?

Learn how to style your text

I would consider a normal person "doing well financially" as someone who works because they want to, not because they have to.

Also, this person would have 0 financial worries in that their housing, bills for daily life is secured.

Define 'doing well'. For some, it may be whether I can survive the month. Or year. Or whether I can retire at 65, or 60, or 55. Or whether I can help my kids retire at 55. Or whether I can afford that GCB.

Then have a plan to reach that goal.

Are you on track on your plan?

You can dont work and know you can survive

Being financially well differs from people to people. I see it as a tiered level where we (hopefully) progress up. At the most fundamental level, you need to be able to satisfy your basic needs (eg food on the table and roof over your head). The next level, you will be in a position where you have manageable debts or minimal debts; and finally you are at a level where you are able to leverage and build assets.

We should also not forget the mental impact that a lack of finance can bring. A good indicator could be: "Am I constantly worried about paying for X" and this has affected my mental health or sleep?

When you're able to quit your day job without worrying that your expenses will cripple you....

Write your thoughts

Advertisement