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15 Signs That Prove You're Financially Stable

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Linsay ThomasGuest Blogger
August 11, 2016 · 1.9k Views

How well do you really think you’re doing when it comes to money? Are you spending thousands of dollars every month to pay off debts or are you debt-free with a large savings account? Unfortunately, many of us lack money and would love to be financially stable – but what does that really mean?

Lucky for you, we’ve compiled a list of signs that mean you’re doing well financially. If only one or two of these signs apply to you, that doesn’t necessarily mean you’re doing well financially. Most of these must apply to you in order to consider yourself truly financially stable. So go through this list of 15 signs and see how well you’re doing.

  1. You use credit cards wisely. Credit cards are to be used only in emergencies - or to earn rewards, in which case, you pay them off every month. But if everything is an emergency, then your credit cards are close to getting maxed out. At this point, it’ll take you 20 years just to pay them off. You need to reconsider your lifestyle and find a way to make enough money to pay your bills.

    Source: LifeHack
  2. You don’t overdraw your account. If your account balance has a negative sign in front of it, then that right there is a sign that you’re not financially stable. In order to be stable, you actually need to have money in your account. If you keep spending more than you’re making, you need to find ways to curb your spending.
  3. You have a budget in place. Having a budget is important in order to avoid overspending. If you keep spending money mindlessly and have no clue where your money is going, you’ll just keep spending without saving. With a budget, you stick to a plan and have spending priorities.

    Source: US News, Money
  4. You always pay bills on time. If you always pay your bills on time – or even early – that’s because you have the money to do so. You avoid being late on payments because you’re responsible. You care about your credit rating and don’t like owing people money.
  5. You can pay the bills with no issues. Paying the bills should not require an elaborate plan. If you have to determine which bills to pay and which ones have to wait a few weeks, then you’re not stable.

    Source: MKB Payroll BV Google Plus
  6. You sleep peacefully. Are money worries keeping you up at night? If so, then you’re likely experiencing some instability. Maybe you don’t know how you’ll pay your car payment this month and need to come up with the extra cash quickly. These kinds of worries will make you toss and turn at night, but if you’re feeling good about your finances, you won’t worry about them so much.
  7. You can afford what you want. If you want something, you have enough discretionary income to just go ahead and buy it. If you’re financially stable, you can afford to buy that new computer or pair of shoes you’ve been eyeing. You’re not worrying about whether or not the mortgage will get paid because you’ve got that covered.
    Related news: Define "Special Occasion" to Stay Within Your Monthly Budget

    Source: Hope for Women Mag
  8. You can splurge a little without feeling guilty. You can go out to that fancy restaurant or take a vacation because you have the means to do so. You can go a little overboard every now and then because you can afford it and you deserve it. Your extra spending won’t affect your bills and other expenses.
  9. You’re not living paycheck to paycheck. What would happen if you suddenly lost your job? Would you go into panic mode because you’d have no idea how to pay the bills? Financial stability means having enough savings to be able to live off it for several months should an emergency occur.

    Source: Huffington Post
  10. You’re financially prepared for emergencies. If the car breaks down or if the refrigerator stops working, you can easily pay for repairs or a replacement without having a nervous breakdown. You should have savings set aside for these situations, or at least some room on your credit card for such emergencies.
  11. You can support a worthwhile cause without having a panic attack. While it’s important to save, it’s good to donate to charitable causes every now and then. If you can’t afford to spare $20 to help others in need, then your finances are in need of serious adjustment.

    Source: Night Helper
  12. You and your spouse don’t fight about money. If there’s a lot of marital discourse going on regarding finances, then there are some issues that need to be resolved. You should both be at peace with your financial situation.
    Related news: 7 Financial Mistakes to Avoid in Marriage
  13. You’re contributing 10% or more of each paycheck to retirement. If you’re contributing the bare minimum – or nothing at all – toward retirement, you’ll end up working forever. People who are financially stable contribute much more because they can.

    Source: Learn Vest
  14. People ask for your opinion about money. If people ask you about finances, it’s because they think you handle money well. So take it as a compliment because they wouldn’t ask someone who’s struggling with debt.
  15. Your kids’ college expenses are covered. You don’t want to worry about loans and financial aid when your kids are in college, so you already have a plan in place to pay for their education.

    Source: CNN Money

So how did you do? Are you more like to fritter away your money or do you have a solid amount of savings in place? Are you drowning in credit card debt or is everything paid off? If you’re considered financially stable, congratulations! Keep up the good work and keep adding to your savings account so you’ll have a good amount of money saved up for retirement.

If you’re not quite there yet, don’t despair. It may take some time, but by making changes to your spending habits and earning more income, you can change your finances around. Set goals for yourself and with a little willpower, you’ll be paying down debts in no time.


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Linsay Thomas is a seasoned writer and editor who has written thousands of articles about topics such as saving money, healthcare, law, pets and education. She hails from California, where she lives with her husband, two children and a menagerie of pets. When she's not writing, she enjoys sports, breeding chocolate Labs and visiting the beach.

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