Signs that You are Good with Money!

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Avatar for Eirolfeam2
3 years ago

Welcome to another episode of #MoneyTalks!

If you have been reading some of my articles about money, you probably already know where I got this topic about "money".

One of the things I do with my Facebook account to take advantage of the app is to follow Financial pages to widen my knowledge about handling my money and growing my finances. One of my favorites is The Global Filipino Investors (TGFI) because of their short but educational posts about money.

As I was scrolling this afternoon on my news feed, their post, as usual, caught my attention again. It is about the 8 signs that illustrate that a person is good with money if they have or do them.

When I read the first sentence, I immediately concluded that I am good with money because I am confident that I am already financially literate. When it comes to money, I am very frugal, thrifty, and I would think a million times before I spend my hard-earned money. And as I continue reading the post and saw the poster image included, I became more optimistic because I have already mastered how to be good with money.

Money is very important to our lives because nowadays, almost everything has its price tag. From the food we eat, the clothes we use, to paying a fare to go to the place we need to be, and even to accessing the online world. With inflation, our daily needs are also becoming more expensive as days pass.

Money is hard to get but it is very easy to lose if we don't know how to manage it properly. Sometimes, it is also just enough to buy our basic needs.

We all probably aspire to become financially free where we don't have to worry about where to get money to spend for the following days, and we can do and buy whatever we want.

Photo credits The Global Filipino Investors

Thus, here are the 8 signs that you are good with money.

1. You have a steady flow of income

  • If you are currently employed or working on your own business, then you already have a steady flow of income.

  • Because I'm still a student, my source of income is in the crypto-verse, from blogging and staking.

  • For us, read.cash, and noise.cash Content Creators, we only have a steady flow of income if we keep on writing articles and short posts. However, the income is not guaranteed and not steady/stable because we only earn if the Robot tips us or if our hearts have value. Nevertheless, we still can make additional income from these sites within a month if we continue grinding.

2. You know how much you spend

  • Tracking your expenses is one of the best ways to manage your money well because you know where your money goes. Budgeting and sticking with it will help you to know how much you spent on such things, and if you only spent on important ones. And if you got short of budget, you would know what expenses to cut.

  • I personally don't know how much I'm spending in a month but I make sure that I'm spending wisely.

3. You plan on making a big purchase

  • You are good with money if you are not an impulsive buyer and make sure that you consider other factors before making a big purchase.

  • If you plan on making a big purchase, that also means that you are saving for it and working hard to buy the thing you want, such as when buying a house and lot, or a car.

  • I too plan on making a huge purchase and I have a timeline for it.

4. You have an Emergency Fund

  • Every financial advice that I have read always includes having an emergency fund because it is indeed a life-saver.

  • An emergency fund is different from your savings, which is composed of your 3-6 months and even up to 12 months' worth of your monthly salary or monthly expenses. This serves as a safety net just in case you were fired from your job or when there is a financial emergency. So that even if there is no income coming in every month, you still have something to spend while looking for another job.

5. You can buy things you want

  • You are good with money and are probably financially free if you can now buy the things you want without any worries or second thoughts. You don't have to think twice if you will buy it or not because you have already worked hard to get it.

  • As for me, since I am still far from being financially free, I still can't buy the things I want even if I somehow can afford them. I would rather save the money for now than spend it for my wants. I'd buy my needs first.

6. You have insurance

  • Another piece of financial advice that I usually hear is to have insurance. Health insurance is for your future self to save from hospital bills and other expenses, and life insurance is for your family or children once you pass away, which will replace your monthly salary for a specific period to support your loved ones.

  • I don't have insurance yet but I'm planning to get one in the future once I already have a stable income/job.

7. You can pay your bills every month

  • If you can pay your electric and water bill, your rent, and even your internet bills without depending on anyone or having credits to pay it, then you are already good with money.

  • Paying your monthly bills on time means that you are responsible and are managing your money well because you are spending it on your necessities.

8. You invest to make money

  • Investing in the right investment vehicle will make your money work for you. If you are currently investing to make money, then it just simply means you already know how to make your money grow.

  • Since we are in the crypto-verse, there are a lot of opportunities where we can invest our money to make money, or just invest our time and effort to make more cash.

These are the 8 signs that you are good with money. If you have all the signs, congratulations because you are now on your way to achieving financial freedom.


The content of this article is just to inform and share my knowledge but is not financial advice. You do what you think is best for your money.

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Avatar for Eirolfeam2
3 years ago

Comments

The information is very good...the rate of those who prefer cryptocurrencies to save has doubled compared to the previous period.

$ 0.02
3 years ago

That's true because cryptos have a lot of advantages.

$ 0.00
3 years ago

I must admit, we're not good in money.. Maybe dahil sapat sapat lang talaga ang aming kita.. Wala kaming emergency funds dahil kapag din may nangangailangan sa aming kapamilya, kami din mag asawa ang isa sa mga tumutulong.. Ganun siguro talaga kapag breadwinner.. Palibhasa pati kapamilya namin ay sa amin umaasa, wala kaming sariling ipon or kung meron man, nagagamit din talaga kapag may nangangailangan..

$ 0.02
3 years ago

Awww. Nakakalungkot talaga kapag breadwinner. Kaya dapat matuto ung ibang kapamilya na tumayo sa sarili nilang paa eh.

$ 0.00
3 years ago

Totoo yan sis.. Ikaw yung malaki ang sweldo pero ikaw yung walang ipon..

$ 0.00
3 years ago

Steady flow of income. That's what most of us do aim. Because if we have it, there will be a way more chances for us to purchase things that are more bigger than what we can purchase now. Also, we can buy anything without worries. Pero 'di pa ngayon kasi struggling students pa lang ang peg natin eh. Hihi! Pero soon. <3 Hello sa ating mga fan ni tracking and budgeting. Sarap kayang mag-track ng expenses and mag-budget for our needs and other expenses. Kahit na ang sakit minsan sa ulo ni computation. 😁 Sabi ni Mama, asikasuhin ko na daw SSS ko. Kako saan ako kukuha ng panghulog monthly? Haha. Pero pwede na ba ako, tayong kumuha ng SSS or PhilHealth? Nasa plano ko din kasi 'yan. Para may iba namang pinupuntahan mga side hustles ko. Hehe

$ 0.03
3 years ago

True. Need talaga ng regular job for that. Pero buti nalang meron tayong read at noise na napagkukunan ng income kahit di steady ung amount. Hahaha! Soon, struggling employee naman. Charot. 🤣 Pwede ka ng kumuha nyan. Tanungin mo lang mga requirements nila. Alam ko pwede na eh. Pero wala din ako nyang 2. 😹

$ 0.00
3 years ago

We are on that path, I have not passed all the tests, but I am aware of what needs to be done and how to do it.

$ 0.01
3 years ago

That's good then.

$ 0.00
3 years ago

Well, i've an objection of number five point. I mean financially free , don't you think isn't thrifty? Or am i mistaken something? 🤔

$ 0.01
3 years ago

It's good to be thrifty but learn to spend on the things you want once in a while and enjoy your present life.

$ 0.00
3 years ago

I can't really say I'm very good with money though I make budget down for any money I received and for emergency funds

$ 0.01
3 years ago

Well, if you have all the signs, you are good. 😹

$ 0.00
3 years ago

I’ve always been good with money even today. However, after reading your article, I became very clear that everything is fine with me.

$ 0.02
3 years ago

Aww. That's great. That means you are good with it.

$ 0.00
3 years ago

Siguro im not good when it comes to money, masyado kasj akong open lalo na sa mga kapatid ko kaya mostly kahit sa sarili ko wala ng natitira

$ 0.02
3 years ago

Awww. Magtira din po kayo para sa sarili at future niyo.

$ 0.00
3 years ago

Am I good at utilising money? Maybe not. Because I am not so good at saving. Perhaps better in helping people with that money.

$ 0.02
3 years ago

Oh. That's true too. We should help if we can.

$ 0.00
3 years ago