Ever see those walkthrough tours of mega yachts? What do we need to do to land an invite on the next voyage? 🙋🏽♀️🛳️ At least we have yacht rock to hold us over. Who doesn’t feel rich blasting Steely Dan while drinking a Diet Bud out of a plastic goblet? 🏆
You actually don’t need to cruise on a big a$$ boat to be well off. In fact, you might already be richer than you think!
Here’s Five Fast Facts about what it really means to be “rich”:
- 🆘 Somebody Call 911 - Got a fully stocked emergency fund? You’re way ahead of the game. Data shows that 37% of Americans wouldn’t be able to cover a $400 emergency and 21% don’t have any kind of savings socked away. If you’ve got enough to cover your butt in a bind, consider yourself wealthy.
- 👛 Below the Belt - Joneses, who? Living below your means is a total flex and if you do, you go, girl. Bonus points if you don’t spend more as your income increases. Tracking expenses and knowing where your dollars go seems like a no-brainer, but many people just run on vibes. Living below your means also makes you less likely to rack up costly credit card debt.
- 🏈 Go Long - Playing the financial long game? Another win. If you’ve got your eyes on those long term financial goals, like saving for a home or retirement, chances are you don’t spend a ton on impulse purchases. It’s not glamorous, but future financial you will be jumping for joy.
- 😎 I’m a Hustla, Baby - Raise your hand if you work a 9-to-5 and got a little somethin’ on the side! Multiple income streams mean more money to put in your piggy bank. If you’ve got the time to spare, consider picking up some freelance work or a part-time gig. Even bringing in a couple extra hundred bucks each month makes a huge difference.
- 💵 Studying for Stacks - If your idea of a wild Friday night is nerding out over a new budget template in Excel, cheers! The more financial-savvy you are, the more likely you’ll stick with your goals. Staying up on the latest investing trends and what the markets are doing racks up the nerd points, too.
🔥Bottom line: *Clears throat* Here's your regular PSA to get that emergency fund beefier than a jumbo Slim Jim. Don’t know where to start? We’ve got you, fam. In this article, we lay out five top tips to help you put more money under the mattress.
Got any healthy financial habits to share?
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