What should you know?
Recent research by Salary Finance has shown that money concerns are the most common cause of stress in our lives. Surprisingly, the trend was consistent across all income levels:
Financial stress typically comes when you don’t feel in control of your money. To help you on your quest for financial peace of mind, here are five signs that indicate you are on the right path:
- You have an emergency fund equivalent to 3-6 months of essential expenses.
- You are insured against death, and loss of income (due to illness or accident).
- Your mortgage is your only debt.
- You have control over your spending and are able to save 20% of your monthly income.
- You regularly invest money in the greatest proven wealth-creation machine = The Stock Market.
Why should you care?
Most people’s financial worries can be stripped down to one key question: “Will I have enough?”
This can only be answered with any degree of certainty by conducting a detailed financial planning process that considers your future income and expenses, current assets and debts, and most importantly, your life plans and aspirations.
If you can confidently answer “yes” to each of the five points above, you are likely on a good pathway to success. A consultation with a great financial planner can make certain of it.
