One of the benefits of times of financial stress is that you usually keep a pretty good handle on where you’re at in your finances. You’re constantly looking for ways to change your situation, and that requires a certain level of awareness that can become quite beneficial over time.
But how about when things get a little better? When the collectors aren’t calling every day, and your cards are reasonably paid off. Do you still know where you stand financially? What are your goals for the future? Are you just flying by the seat of your pants or are you in control?
If you’re realising you’ve let things get out of your hands a little bit, you may be facing up to the fact that you’ve become complacent financially. But the line can be hard to see. At what point has comfort become complacence? This article is going to overview seven big signs that you may have become complacent financially, and encourage you not to be.
Sign 1: You don’t look at your bills
If you’re not paying attention to how much your bills are every month, and you’ve completely automated their payment, you are likely skidding towards financial complacency. To be more active make sure you review your bills, at least periodically, to ensure they are accurate, up to date, and offering you the absolute best deals so far.
Sign 2: You don’t know what’s in your bank account, but you think it’s okay
You try not to overspend but you’re not sure what’s happening with your bank account. It’s all in a lump, it’s not targeted for any goals, and you’re not saving. These are all signs that it may be time to take a substantially more active role in your finances. Sit down and take the time to think about your financial goals, figure out where you stand currently about them, and then plan to advance even further from here.
This is a huge warning sign of a zone that could use more attention if it’s not getting it already. It is critical to budget. Regularly. If you don’t budget, you’re not taking an active role in planning where you’re going next, and money will merely float through your accounts, sometimes there and sometimes gone, but never strategically working for you. If you’re not already budgeting, start NOW!
If you’ve downloaded our FREE Financial Guidance E-Course then you’ll be well on your way to managing the money you are earning.
Sign 4: You never wonder about advancing or changing jobs
This is an odd sign and can take some thought. There’s nothing wrong with being happy at work, but it’s important to be sure you are still in a place that is preparing to advance you financially as well as personally. Take some time and think about your job. When was the last time you got a raise? What about a promotion? Is this something you can expect at some point or should you be looking to move on?
Sign 5: You shop without a list
Shopping without a list is a classic sign you’re just auto-piloting your finances rather than actively managing them. One of the biggest ways to waste money is to walk into a grocery store hungry, not sure what you need, and just grab what grabs you. At that point, you are a marketer’s dream, and your wallet’s worst nightmare.
Sign 6: You impulse buy. A lot.
One of the top signs that you’re financially comfortable is the ability to make impulse purchases without necessarily worrying about them. This can feel good, and should in that it means you likely have some income coming in you can afford to spend. But impulse buying regularly, without any awareness as to how much you should be limiting yourself to, is a fast track to wasting money on items you don’t really need – and ultimately overspending on them.
You may be getting the message by now, but I want you to be in control of your financial future, and that means having a plan. This brings us to our last sign you may be financially complacent.
Sign 7: You don’t know what you hope for in your financial future
The name of the game with control and finances is goals. Goals are what drive us to save, motivate us to try, and encourage us to press on. If you don’t know what your financial goals are right now, it is vital that you take some time and map them out (maybe when you’re doing your budget). Break down goals between short and long term purchases, and plan for attaining each one.
If you’ve followed the steps up to this point, you are a lot more active than when you started. No financial complacency can attack a self aware, fully budgeted and goal focused individual who has a plan they are currently executing. Well done and enjoy the rewards!