Financially secure people don’t just care about their personal finances — they actively nurture them. They prioritize savings, track spending and regularly contribute to their retirement accounts. Every financial move they make is a deliberate choice to protect and grow their money.
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Think of it this way: Like a robust immune system, your money should be ready to work for you and keep you strong as you maneuver through a complex world. And just like your physical health — from the vitamins you take to the walks you enjoy and the water you drink (don’t forget that part) — financial health requires consistent, daily habits.
Just as regular checkups can affirm how healthy you are, checking in on your financial habits can also confirm that you’re in a good place money-wise. What better way to do a financial self-check than to see if you’re hitting certain benchmarks of good habits? You may find that you need to do a little more work to be as secure as you’d like to be.
Fortunately, developing healthy financial habits isn’t as hard as you might think (certainly easier than taking on the StairMaster at the gym). Here are six daily practices of financially secure people that you can adopt, too.
In an era where social media is constantly bombarding you with images of people whose homes, cars, clothes and even household utensils look nicer than yours, resisting lifestyle inflation is harder than ever. Financially secure people know that what looks like a glamorous life could very well be fueled by massive credit card debt.
Rather than compare themselves to others, financially secure people don’t just live within their means — they live below them. They prioritize value without compromising quality or safety, and the opinions of others don’t impact their financial decision-making. They spend less, knowing the money they save will go toward growing their wealth and achieving their financial goals.
Some tips for living below your means: If you regularly grocery shop at a bigger, pricier supermarket, switch to a more cost-effective option like Lidl or Aldi. Join your local “Buy Nothing” group, where you can swap household items for free, reducing unnecessary purchases. To avoid impulse buying, impose a 48-hour waiting period whenever you’re tempted to buy something on a whim. Often, once you’ve had time to think, you realize you don’t need or even want the item.
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Financially secure people are prepared for life’s financial curve balls. They’ve got at least three to six months’ worth of expenses parked in a high-yield savings account (HYSA), ready to handle situations like job loss, medical emergencies, or car repairs without having to resort to using credit.
HYSAs are ideal tools for building your emergency fund because in addition to earning interest, you can withdraw the money without penalty, unlike other investment vehicles like CDs or annuities. This allows your money to grow while remaining accessible for when the unexpected happens.
Financially secure people understand that multiple income streams can make it easier to grow wealth and achieve financial stability. They also know that you don’t always have to be actively working to make money.
In addition to working hard in their nine-to-fives, financially successful people also look for income opportunities that can help them generate wealth in their five-to-nines. They often leverage investment strategies that include income-producing investments within their portfolio, like dividend stocks, dividend exchange-traded funds, real estate investment trusts and annuities.
They also aren’t afraid to take on part-time or freelance gigs in areas where they have skills or interests to add to their income. You can also explore other ways to make your money work for you. Think about owning rental properties, investing in short-term vacation rentals, or trying out peer-to-peer lending platforms like Prosper or LendingClub that let you earn interest while helping others borrow money.
Got a long commute? Go on daily walks? Sounds like the perfect time to listen to that podcast or audiobook focused on finances. Financially secure people know that when it comes to personal finance, there’s always more to learn.
Thankfully, a wide range of money experts from all walks of life are at your fingertips, more accessible than ever before. From books, social media, podcasts and other media, the resources for improving your financial knowledge are practically limitless. And the more you know about finance, the better equipped you’ll be to navigate major financial decisions and market fluctuations.
Financially secure people don’t just save for the sake of saving — they set clear goals that keep them motivated and serve as a roadmap for their financial progress.
These goals can include short-term objectives, like gathering an emergency fund or paying off a credit card, or more long-term ambitions, like buying a home or retiring early. Try breaking down your big ambitions into some of the small, daily habits discussed here. Once or twice a week, sit down and review your spending, track savings milestones, and tweak your budget to ensure you’re still on course. If you’ve gotten a bit derailed, use these check-ins as a chance to course-correct and stay motivated.
Even as you think about getting financially stronger today, it’s also wise to consider your long-term future and legacy. That’s why financially secure people make a point of proactively planning ahead, working with financial advisors and insurance agents to help them prepare for retirement and beyond.
Having the right life insurance, health insurance and long-term care insurance is essential for protecting yourself and your loved ones financially. Estate planning, such as setting up a will or trust, is also crucial for those looking to establish a financial legacy.
With daily care and attention, you can set yourself on the path to becoming healthier, wealthier and wiser.
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This article originally appeared on GOBankingRates.com: 6 Daily Habits of Financially Secure People
