7 Signs You're Doing Well Financially (Even if It Doesn't Feel Like It)

About this Video

• Video Title: 7 Signs You're Doing Well Financially (Even if It Doesn't Feel Like It)
• Channel: Steve | Call to Leap
• Speakers: Steve
• Duration: 00:09:23

Introduction

This video explores seven unexpected indicators of strong financial health, challenging the common misconception that financial success is solely defined by large numbers like salary or net worth. The speaker aims to show viewers that they might be doing better financially than they realize.

Key Takeaways

1. Living without consumer debt or actively paying it off: Being debt-free or diligently reducing debt is a significant achievement, considering the high average debt levels in the US.
2. Possessing an emergency fund: Having 3-6 months of living expenses saved provides financial security and peace of mind, unlike the majority of Americans who lack this crucial buffer.
3. Planning for retirement and regularly investing: Prioritizing retirement savings, even small amounts, puts one significantly ahead of many Americans who have more credit card debt than retirement savings.
4. Avoiding constant comparison to others: Focusing on personal financial goals instead of comparing oneself to others' perceived success fosters contentment and prevents lifestyle inflation.
5. Knowing income and expenses and living below your means: Tracking finances, even simply, leads to awareness and control, which are foundational to financial health.
6. Building marketable skills and increasing earning potential: Continuously improving skills to raise income is vital for long-term financial well-being once savings are maximized. Examples include sales, AI implementation, social media marketing, and data analytics.