What Does Financial Stability Look Like?

Keeping your finances in order can feel like a full time job

complete with endless overtime

But what does a healthy financial standing actually look like? Today, FitnessBank is covering the top signs indicating that you’ve reached financial stability. Read on to learn more. 
As an adult, it’s likely that you’re having to make expenditures on a regular basis. A sign that you’re doing a great job is if you’re making all monthly payments on time. Also, if you can meet those typical weekly expenses without having to dip into any cash reserves, you’re doing great.

Debt & Wants

Another area that says a lot about your financial well being is your debt. If you’re facing a mountain of debt that regularly causes you stress and concern, you may need to rethink your current approach. That’s not to say that having any amount of debt is a bad thing. Sometimes this can bode well for your credit history. So long as you’re able to handle this amount without it impacting funds earmarked for other priorities, you should be in the clear.

Something else to consider is that life is about balance. As such, you should be able to make those “vanity” purchases in the pursuit of this balance. However, if you find yourself spending too much here, to the point that it conflicts with your monthly obligations, again, an overhaul may be necessary. 

Saving with FitnessBank

The last focus area we’ll be covering is your savings. It’s always good to have that emergency stash to act as a safety net. If your savings account is always depleted, or if you have yet to establish one, you’re likely not in the best place financially.

One great resource in the effort towards maintaining your finances is partnering with a competent, trustworthy banking institution. That’s where FitnessBank comes in. Contact us today to learn more.