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Use this Financially Stable Checklist to See if You are on Track

Being financially stable isn’t just about having money in the bank. It means having a plan, knowing where every dollar goes, and feeling secure in your financial choices. Even if you don’t love a checklist, this is one you must look at.

Whether you’re just starting out or looking to check your progress, this checklist will help you see if you’re on the right path. From saving habits to smart spending, these steps will guide you toward achieving financial peace of mind. Ready to see how you measure up?

What does Financial Stability Mean?

The image shows filed papers, a calculator, dollar bills, and a man's hand and writing on the notebook which means the definition of financial stability and advantages.
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Financial stability means feeling secure with your money. It’s knowing you can cover your bills, save for the future, and sleep soundly without money stress.

You Pay Yourself First

The picture tells about filed dollar bills and a girl's hand holding a wallet while putting dollar bills on it indicating to pay yourself first by putting money aside before paying bills.
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Putting money aside for yourself before paying bills shows smart money habits. It helps grow your savings and puts you on track to reach your goals faster.

Do You Have Debt?

The photo shows a dollar bill and a paper scratch with a note that refers to paying off debt which helps to reduce stress and makes it easier to save and invest for the future.
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If you have debt, make a plan to pay it off. Keeping your debt low or zero helps reduce stress and makes it easier to save and invest in your future.

To learn more: Beginner’s Guide on How to Payoff Debt Faster

You Regularly Invest Your Money

The image of coin stocks with rising arrows means regularly investing your money to help grow your net worth and prepare for financial independence.
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Regular investments build wealth over time. Putting your money to work helps you grow your net worth and prepare for financial independence.

Start with $100 and keep contributing money to your accounts.

To learn more: Investing Money 101: Find Simple Ways to Make Money and Become a Millionaire

Proper Size Emergency Fund – Just in Case

The picture shows a calculator, dollar bills, a man's hand, and a blackboard with notes referring to a proper-sized emergency fund that keeps you going broke for unexpected expenses.
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Having a good emergency fund means you’re ready for anything. It’s a safety net that keeps you from going broke if the unexpected happens. Please don’t think something won’t happen to you!

To learn more: Emergency Fund – Everything You Need to Know

Saving 20% of Your Income is a Priority

The image shows a phone, coffee, notebook, pen, dollar bills, and a girl dropping a dollar bill in a piggy bank which refers to saving 20% of your income helps to grow your wealth and reach goals faster.
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Saving 20% of what you earn is a great habit. It helps you grow your wealth, build financial security, and reach your goals faster.

To learn more: How to Budget Your Money With Percentages – Cents Plan Formula

Your Expenses are Less than Your Income

The photo shows a calculator, dollar bills, and a man writing on the paper indicating that expenses are less than your income to take control of your money and help save more for the future.
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Spending less than you earn is key to not going broke. It keeps you in control of your money and helps you save more for the future.

To learn more: How to Live Below Your Means and Love Life

Being a Month or More Ahead of Bills is a Must

The image shows invoice papers indicating that paying ahead of bills is a must and smart money management that keeps your finances strong.
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The money you earn this month will pay for bills next month. Another term for this is “aging your money.”

Staying ahead of your bills means less stress. It’s a sign of smart money management and keeps you in a strong financial position.

To learn more: How to Budget Money and Still Enjoy Life

You Have Multiple Sinking Funds

The image tells about dollar bills, filed papers, a calculator, a notebook, and a black paper with notes referring to having multiple sinking funds to handle expenses without going into debt.
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Having sinking funds for different goals keeps you prepared. It helps you handle expenses without going into debt or using your savings. Check out the list of sinking funds to help you get started.

To learn more: Complete Guide to Sinking Funds Categories To Improve your Budget

You Know Your Next Goal

The photo shows a plant, clips, a pen, and a notebook with notes which means knowing your next goal keeps you focused and motivated.
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Knowing what you’re saving for helps you stay focused. Whether it’s a vacation, a car, or retirement, having a goal keeps you motivated. This will help you say no to things you normally would automatically spend money on.

To learn more: 10 Smart Financial Goals That You Need

You are Ahead on Saving for Retirement

The picture of a jar filled with coins and a paper with a note indicating to ahead for retirement helps your financial future and security.
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Saving early for retirement gives you a head start. It means you’re planning for a future where you don’t have to worry about money.

Even if you haven’t started, starting now is better than never. So, take action.

To learn more: The Real Reason You Don’t Save for Retirement

Money is Set Aside for a Rainy Day

The picture shows a calculator, a jar filled with coins, and a blackboard with notes to set aside for rainy days which helps cover those unexpected expenses without dipping into savings.
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A rainy day fund is a must-have. It covers those little surprises that pop up and keeps you from dipping into your main savings.

Slightly different than an emergency fund, but just as important.

To learn more: Breaking Down the Purpose of a Rainy Day Fund

You Sleep Well at Night

The image shows the girl sleeping well at night indicating that less worry means you're on the right path to staying financially stable.
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Sleeping well at night shows you’re confident in your money choices. Less worry means you’re on the right path to staying financially stable.

Review the Rest of the Financially Stable Habits

The image tells about a laptop used for research and a girl writing in the notebook indicating to review the rest of her financially stable habits to keep on track and better money management.
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Checking your habits helps keep you on track. It’s a way to make sure you’re always moving towards more stability and financial growth.

Start by working on one habit a week and then layer on the financially stable habits. Then, you are more likely to have success!

To learn more: 32+ Simple Hints Someone is Financially Stable + How You can be too!

Know someone else that needs this, too? Then, please share!!

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