My grandad once told me, “If you can afford the luxuries in life without breaking a sweat, you’re better off than most.”
I never really got it until I started earning.
While it’s true that financial stability doesn’t translate to having heaps of money to splurge on every whim, it does mean having the capacity to afford certain things that enhance our quality of life.
Think about it.
Can you make a purchase on some ‘not-so-basic’ necessities without losing sleep over how much you’re spending?
Guess what.
If your answer is yes, then you’re probably doing better financially than you think! Interesting, right?
In this article, we’re going to delve into six things that, if you can buy without batting an eyelid, signal that you’re doing pretty well in the finance department.
Stay tuned and let’s explore this together. You might be surprised to find out where you stand.
1) Regular vacations
Remember when we were kids and family vacations seemed like a normal part of life?
Then we grew up and realized just how costly those trips can be.
Taking a vacation, whether it’s an exotic trip overseas or a simple weekend getaway, is not just about the thrill of exploration.
It’s also about taking a well-deserved break from our daily grind, recharging our batteries, and creating lasting memories.
And guess what?
If you can plan and go on regular vacations without worrying about how to pay for them, you’re definitely in a good place financially. This doesn’t mean you’re splurging on luxury resorts every other month.
Even budget-friendly trips count, as long as they don’t put you in debt or disrupt your financial plan.
If your suitcase is always on standby for the next adventure, give yourself a pat on the back! You’re doing better than you think.
2) Groceries without budget constraints
I’ll never forget my college days when I had to carefully budget each trip to the grocery store.
At that time, buying anything beyond the basics was a luxury I couldn’t afford. I remember standing in the aisle, calculating the cost of each item before placing it in my cart.
Fast forward to today, and it’s a different story.
Now, I can walk into a grocery store and fill my cart with whatever I want – organic produce, gourmet cheese, or that fancy bottle of olive oil – without worrying about the bill.
And you know what?
If you’re able to do the same, that’s a pretty clear sign of financial stability. You’re not just surviving; you’re thriving!
Buying groceries without budget constraints means you have enough financial cushion to afford better and healthier food choices.
If your weekly grocery haul doesn’t give you heart palpitations at the checkout counter, count that as a win in the financial stability column!
3) Health and wellness expenses
Let’s get real for a second.
Health is wealth, right? But the bitter truth is, maintaining good health can cost a pretty penny.
From regular gym memberships, yoga classes, to those visits to the chiropractor or physiotherapist that your doctor recommended – these expenses quickly stack up.
Not to mention the cost of medications, health supplements, or even that ergonomic chair to support your back during those long work-from-home hours.
And it’s not just about the body. It’s also about our mental health. Regular sessions with a therapist or counselor, while incredibly beneficial, can also come with a hefty price tag.
These are not indulgences; they’re essential for our overall well-being.
But here’s the thing.
If you can cover these health and wellness expenses without sweating over the impact on your bank balance, you’re doing better than you might think.
In fact, your ability to invest in your physical and mental health without financial stress is a clear sign that you’re not just getting by; you’re truly living.
4) Up-to-date gadgets and appliances
In an era where technology rules, having up-to-date gadgets and appliances is no longer just about keeping up with the Joneses.
Whether it’s a reliable laptop for work, a smartphone that doesn’t lag, or an energy-efficient refrigerator, these pieces of technology not only make our lives easier but also more productive.
But let’s face it.
Replacing or upgrading these items can cause a significant dent in your wallet. And if you’re living paycheck to paycheck, the thought of such an expense can be downright terrifying.
However, if you’re able to upgrade your tech tools without that gnawing fear of overspending, you’re in a good financial place.
In fact, being able to invest in quality appliances that can save time, energy, and eventually money, without financial stress, indicates that you have a firm handle on your finances.
if a gadget dies and you can replace it without a second thought – well done! You’re managing your finances better than most.
5) Regular maintenance and repairs
We all know that when it comes to our homes and vehicles, regular maintenance is a must. It not only ensures everything is running smoothly but can also save us from costly future repairs.
However, according to a survey by Bankrate, nearly 63% of Americans don’t have enough savings to cover a $500 car repair or a $1,000 emergency room visit. That’s more than half of the US population!
If you can comfortably afford routine maintenance and unexpected repairs without dipping into your savings or reaching for your credit card, you’re in a more secure financial position than you might realize.
If that leaking faucet or rattling car engine can be fixed without causing you financial stress, give yourself a round of applause. You’re doing better financially than most people.
6) An emergency fund
Here’s the deal.
If there’s one thing all financial advisors agree upon, it’s the importance of having an emergency fund.
This is a stash of money set aside to cover the financial surprises life throws your way. It’s what keeps you afloat when you lose your job, your car breaks down, or when you face a health crisis.
But, building an emergency fund is no small feat. It requires discipline, sacrifice, and a commitment to putting away a portion of your income consistently.
Now, if you’ve managed to create and maintain an emergency fund that can cover at least six months’ worth of living expenses, and can continue contributing to it without stress, you’re not just doing okay financially—you’re rocking it!
Having an emergency fund means you have a safety net in place. It means you have planned for the unexpected and are prepared to face whatever financial challenge comes your way.
And that, my friend, is the hallmark of true financial stability.
Final thoughts
If you nodded along as you read through these signs, chances are, you’re in a better financial position than you give yourself credit for.
Here’s the silver lining – your financial journey doesn’t have to be dictated by societal norms.
Remember, financial stability isn’t about indulging in every luxury or splurging without a second thought.
It’s about having the financial freedom to make choices that enhance your life quality, without the burden of stress or anxiety.
Start by acknowledging your current financial standing. Pay attention to those moments when you can comfortably afford something beyond the bare necessities.
Recognize when you can spend on self-care or on others without feeling the pinch.
This awareness is the first step towards appreciating your financial progress.
It won’t be an overnight transformation. Financial growth is a journey filled with ups and downs.
But with conscious effort and wise decisions, you can continue to strengthen your financial health. Each act of smart spending and saving contributes to building a more secure financial future.
So, be kind to yourself as you navigate this path.
Celebrate your progress, no matter how small it seems. Seek advice when needed, and remember that it’s okay to prioritize your financial peace of mind over societal expectations.
In time, you’ll not only see a positive shift in your financial well-being but also gain a deeper sense of fulfillment and control over your life. And that, my friend, is priceless.
