Ten Signs You’re Managing Your Money At Last!

*This is a collaborative post 

How many times have you logged into your online banking totally panicking that you haven’t got as much money as you thought? When was the last time that you penny-pinched the brand of bread that you bought because you couldn’t spare the extra change? If you are still thinking about those, you could be on your way to finally managing your money properly.

Look at your bank account – is it in the green or the red? Is your savings account stocked? Are you still making savvy decisions about your purchases? Well, congratulations, because it sounds to us like you’ve arrived. Money is one of the hardest things for people to manage and it’s usually because stretching out the paycheck for a whole month is just too hard. Managing your money isn’t always going to be easy, of course it won’t, but if you can get through this article and tick off everything on the list, then it’s a good sign that you are finally in control of your finances. Let’s take a look!

You’ve Stopped Panicking Over Your Bank Accounts

Those who have zero control over their money constantly check their bank balance. When you’re in control, you know where your money is going and you know when it’s coming back in again. You know that you can spend money on your bank card because there will be money and it won’t be declined at the stores. You know that when you do log in to online banking, you can feel confident that the numbers that you expect to see will be there. If you can’t feel the panic of money management, you’re managing fine!

You Still Shop For Bargains

When you go to buy your new smartphone, are you going to go directly to the brand or are you going to look at www.halfcooked.co.uk? The latter, of course! You know that even though you COULD go to the big brand names for your smartphone plan, you don’t have to because you get the value of money at last. You understand that you can shop for bargains and get the same  – or better – quality and it’ll work out really well! You’ve got a lemonade life on a champagne budget instead of the other way around – which is exactly how it should be.

There’s No One To Owe

When you no longer owe anyone any money, you’re in a good place. You don’t owe the bank, the taxman or any small debt collectors. You’re not hiding away from paying the water rates or the council tax, as it’s not something you can’t afford anymore. You can bet you’re managing just fine when you don’t have to spend any of your monthly budget on debts!

A Healthy Credit Score

You spent time paying things off and now your credit score is rewarding you for it. It means that there are possibilities to own a home one day, as you’ve managed to get your credit score up to scratch over time. You should always keep an eye on your credit score to know whether you are doing well, and if you are over 700, you’re in over 800, you’re in the magical category of being able to get credit whenever you want it! This opens doors for a new home or car when you need to have the right credit!

You’re Saving – And No One Is Telling You To Do It!

Each month, you’re moving money into your savings account and no one out there is telling you to do it. You’re paying your savings account before you consider your disposable income, and this is a good sign that you’re doing it right. You’re also paying into your retirement at last, and you are doing so because you have enough money at the end of each month to afford it. It makes a big difference to be able to do it!

You’re Not Eating Canned Beans Within A Week

When you live paycheck to paycheck, you are unable to stretch your money week to week. It’s not easy to live like this, but here you are. If you have stopped living on the canned beans in the basic food aisle by the end of the first week after payday, you’re doing exceptionally well! With so many living like this, it’s hard to ever imagine getting out of it, and yet here you are.

There’s More Than One Savings Account

If you are fortunate enough to have an emergency fund, you are going to be in a great position to cover yourself if something goes wrong. The oven has broken, but you’re not panicking because you have the funds to buy a new one AND pay for installation. The idea of an emergency fund is far scarier than the reality, so get yourself searching for a good savings account and start building up your emergency back-up. You won’t regret it!

Your Bills Are Paid – On Time

No more late payment charges. No more red letters through the door. Every single one of your bills is paid as you get them – on time, every time. It’s a good position to be in when this happens, as you know that you are covered and you don’t have to panic about a knock on the door. When you pay your bills every month, you’re going to be able to look after yourself and your family and not worry.

You Say No To Impulsive Buying

If you’re at the cash register and you are saying no to buying the AMAZING DEALS that are splashed everywhere, you’ve arrived. It’s not easy to say no when you’re able to afford it, but the difference is that you know better and you CAN say no because you no longer buy for the sake of it. 

You’re Sticking To Budget 

Lastly, you are finally in a position where you can stick to your monthly budget every single month. You have financial stability when you can see what’s coming in and going out and why, and you can stick to what you need to stick to. There are far fewer financial faux pas on your part, and life is much easier!