9 Signs You’re Good With Money (And 3 Signs You’ll Go Broke)

If you’re handling your finances well, there will be signs. Likewise, if you’re hemorrhaging money, there will be red flags – maybe more glaring in retrospect.

1. You Have a Budget

This is really the first and most important step to improving your financial health. You can’t get better if you don’t know where you stand.

2. You Have an Emergency Fund

A great number of Americans are at risk of financial ruin from one accident or job loss. You should set aside at least $1,000 and as much as three months’ income for emergencies. If you’ve already done this, you’re a smart cookie.

3. You Pay Your Bills on Time

Preventing late fees and keeping track of due dates is crucial to financial health. Paying your rent and utilities on time also helps improve your credit score.

4. You Have a Savings Account and Put Money in It Every Month

Like an emergency fund, saving is an important part of financial health. No matter how much or how little you set aside, having the foresight to save is a good sign.

5. You Use Apps to Help You Stay on Track

There are quite a few financial apps like Mint that can help you track your spending, budget, and set goals. These can even be free, meaning you don’t have to spend anything to help get your finances on track.

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