The 10 Signs You Are Good With Money

in this video I'm going to give you 10 signs you are good with money inflation is high layoffs are happening and people are running around with their head on fire financially and you might be good with money and you don't even know it hi my name is Adrian and this is always taught money I like to talk money as it relates to Everyday Life with that being said let's get into the video the first sign you are good with money is that you use a budget contrary to popular belief a lot of people don't even use a budget a lot of people don't know what their ingoings are they don't know what their outgoings are and their everything is all over the place if you use a budget on a monthly basis even though weekly basis or any type of basis you are good with money it shows that you are prudent it shows that you care about your finances and it shows that you have a vision for where your money should go using the budget is one of the clear-cut signs that you are on your way to financial Independence and maybe one day even Building Wealth so if you use a budget you my friend are good with money another sign that you are good with money is if you save if you budget then most likely you save because in the budget you would put a section for savings a lot of people don't save and a statistics show that most Americans don't even have five hundred dollars to cover an emergency expense so saving is very Paramount to your financial hell if you don't save you open yourself up to basically Murphy's Law whatever bad could happen it will happen or something similar the saying goes if I said it wrong let me know in the comments down below but when you don't have a savings account you are susceptible to even bad financial decisions that's when people get payday loans that's when people Pawn their family heirlooms to get some quick cash that's when people get things like a car note so if you don't save and make sure you are in a place where you don't have to resort to extreme circumstances to get some quick money you can always just go to your savings account and take care of what you need to take care of then you are in a bad space savings are Paramount and if you are a person that saves you are a hundred percent very good with money a third sign that you are good with money is if you invest so if saving is Goku in regular form investing is Goku in Super Saiyan form that's a little narrative for Learners out there leave a like for the Nerds but basically saving and investing is saving on steroids when you invest you have access to compound interest and compound interest is just this sweet little thing that puts your money on steroids and it can just make your money snowball and snowball and just make more money for you and the best part is once you set it up you don't even have to worry about it you could be sleeping you could be at the beach you could be on a date you could be doing whatever your Investments are going to be working for you over time double time triple time when they never get tired if you are an investor even on a small scale that's a good sign that you are probably good with money guys if this video is giving you a value so far please leave a like for the YouTube algorithm Please Subscribe new videos every Monday and Thursday and giving you this Good Financial content to help you level up and build wealth we all earn this together and I want you to be a part of the family the fourth sign you are good with money is if you have good credit now if you've watched a couple of my videos I'm not a big fan of credit and I personally don't use credit but this channel is not all about me this channel is to spread the message of good financial habits whether I agree with them or not if you have good credit that's a sign that you are good with money because what that says is you can take out debt and handle that you pay all your bills on time you're never late so that gives you a good credit score which gives you perks such as credit card rewards bonus points and other things like super low interest rate if you go for a car loan or a mortgage again these are things that I personally don't take advantage of because I don't like credit but if you do that then kudos to you I don't think my way or the highway I don't think there's one bad way to build wealth and build personal finance or one good way there's many different levels you can pull in this financial game so if you have good credit that means you're managing your money well and kudos to you you are good with money the next sign you are good with money is that you live below your means listen a lot of people out here are surviving off credit cards are surviving off loans a lot of people aren't even surviving at all financially because they have lifestyle inflated themselves to a point where they can no longer live below their means every single month they are in the red in terms of their finances and you are not one of those people you are prudent you live below your means you understand what you can and you cannot afford and you don't overspend that is a incredibly good skill to have especially in America where we have a very consumerist Society people just like to spend even when times are good even when times are bad people will get too big of a house too much Cardinals too many Gucci and Pradas too many concerts and flights and whatever else people spend their money on so if you are a prudent person that stays within your means stays and at your wage then you are someone was good with money by living below your means and keep doing that the next sign you are good with money is that you are good at managing debt and this kind of piggybacks off of having good credit because a big part of having good credit it means you are good at managing debt but also on the flip side managing debt is another thing you could be debt free right so that's a form of managing debt you don't live in a way that you are constantly getting collections notices at your house or apartment you don't have bill collectors calling you 24 7 from robocall numbers and stuff like that you are good with debt you know you pay your debts A Lannister pays their debt if you get that reference let me know in the comments down below but being debt free managing your debt is a Surefire way but you are good with money another sign you are good with money is if you have an emergency fund an emergency fund is different from savings you might save up to buy a car or go on vacation or another big purchase that you might have in your life maybe a home improvement emergency funds are just for emergencies that's if your water heater breaks maybe the insurance company doesn't want to pay you off for that we know those insurance companies are scams and if you could have your emergency fund to cover that then that's the sure sign you are good with money because you are not susceptible to Murphy's Law did I get that law correct let me know in the comments down below again please guys life never is just gonna give you this bed of roses that everything is going to work perfectly all the time sometimes we might have it so perfect that we're wondering when is the other shoe going to drop and you are prepared if the other shoe drops because you have an emergency fund and that's a sure sign that you are very good with money another sign to me that you're good with money and people might not agree but is if you don't have a cardinal I think carnotes are one of the worst financial decisions that you could make not only because vehicle is a depreciating asset as soon as you drive off the lot you lose a couple thousand dollars of your money just right then and there especially if you buy a new car right not having a car note it shows that you are prudent you are disciplined in saving up and buying a new car because yes buying a car is necessary because a lot of states in America are not walkable or don't have great public transportation so a great many of us need cars but if you buy a decent used car or if you have the money to buy a new car for cash that's a good sign that you're good with money that's a good sign that you can delay gratification because when people buy new cars a lot of times it's not really about the money it's about that feeling of hopping into a new car and driving down the boulevard for the first time and having all your friends see it and making a great cute Instagram post and caption those are all emotional decisions that shows that you cannot necessarily delay gratification not in all cases because I know there's a lot of people who get Cardinals and it's incredibly beneficial to their situation but the grand majority of Americans are not in that position so if you don't have a car note that shows that either you paid it off and you didn't get a new one or you bought your car for cash and my friend you are good with money another sign that you're good with money and this is a big cause for ending marriages in this country and that's if you don't argue over money when you don't argue over money that means you are secure within your financial space if you are looking to have a partner finances are going to be a big part of that relationship a lot of people jump into situations where they're just relying on emotions but you have to treat partnership and marriage like a business decision right so if someone argues over money that's a sure sign that they're probably not good with money because all of those negative emotions and that trauma is coming up because of past situations where money did not serve them in a good and positive way and again money's not good or evil money is just a tool just like a garden item is a tool right money is just a tool so if a tool can Garner very negative and extreme emotions from a person they're probably not the with money and finally the number 10 reason and sign you are good with money is if you are generous with it people who are good with money usually have an abundance of money and when they have an abundance of money they tend to share it around they might leave a big tip for their waiter right they might donate to Charities they might sponsor scholarships and so on and so forth when you are good with money you tend to be generous with money money will flow to you the more generous you are with it a person who is a curmudgeon and a scrooge about money money will not be kind to them that will create a cycle of negative emotions towards money when you get money and when you acquire wealth you have to be generous with it you have to be able to help your friends and your family first and foremost right but then you have to be able to help your community and then your city and then your state and in your country you have to always be generous with money because that's why money is going to continue to be flowing to you if you're not wealthy now you're probably going to be wealthy or at least come into very significant amounts of money in the future because it will allow you to be continuously generous but with that being said guys this is the end of the video check the links down below newsletter comes out every single Friday ETF ebook links down below if you want a consultation links down below new videos every Monday and Thursday please like for the YouTube algorithm subscribe become part of the family with that being said you guys have a great wonderful day go out there and be good with money be generous be helpful to your neighbor and your community and until next time I will see you guys peace shout out to Mikko for editing this video [Music] thank you

Channel: Always Talk Money

Views: 476

Keywords: money, relationships, net worth, entreprenuer, financial freedom, financial independence, banking, always, talk, alwaystalkmoney, teaching, spending, saving, dollar, pounds, euros, adrian, mitchell, graham stephan, andre jikh, guru, gurus, mentor, richer than you think, rich, are you doing well financially, signs you're doing well financially, the signs you're doing well financially, you're doing well financially even if it doesn't feel like it, investing, personal finance, doing well financially

Id: GlmASB_h5xI

Length: 11min 17sec (677 seconds)

Published: Thu Jul 06 2023