4 Signs You Are on Your Way to Financial Success

It is easy to think that you are never doing enough when it comes to your finances, but you may be doing better than you think!  Here are 4 signs that you are on track with your finances.

You Invest Every Month

If you are in the habit of automatically putting money into an investment, whether it be a TFSA, RRSP, or your work pension plan, you are ahead of the curve! Sometimes we think of successful investing as having thousands of dollars to drop into the stock market all at once. This couldn’t be further from the truth.  Investing every month, no matter how much, is not only a great way to save but a great way to manage your risk in the market and spread your contributions out over time to hit both the highs and lows of the markets.

You Pay Attention to Your Bank Account

Taking the time to understand how much money goes into your bank account and tracking what comes out is a great habit to get into.  Making a habit of checking your bank account every few days really puts your spending into perspective and will help you make better decisions when it comes to spending.

You Keep Your Debt Down

Do you pay off your credit cards every month?  Are you actively working on any debt that you do carry?  If you can answer yes, you are in a great place!  If you have a plan to be free of small debt within 3 years or less you are likely in good shape for the future.

You Have Goals… and a Plan

Actually, having a goal is the first step in creating any financial strategy.  Whether it be buying your first house or retirement, having a goal to focus on will help facilitate action. 

Sometimes developing a plan to reach those goals can be tricky…but, that’s what your financial advisor is for!  An advisor can help you make those goals into a reality by putting together a plan that works for you and lifestyle.

Brenda McCrae

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About the Author

Brenda McCrae is a Wealth Advisor with Assante Capital Management Ltd. and an Insurance Advisor with Assante Estate & Insurance Services. Please contact her at (519) 752-3155 to discuss your particular circumstances prior to acting on the information above.

Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. Insurance products and services are provided through Assante Estate and Insurance Services Inc.

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