10 Surprising Signs You’re Doing Well Financially (Even if You Don’t Feel Like It)

Last Updated November 14, 2024 by Davina Kelly

You’re scrolling through social media seeing everyone live their “rich life” and suddenly feel like you’re falling behind financially. Stop! You might be overlooking some key signs you’re doing well financially. 

Financial progress isn’t always obvious, especially with the pressures of social media and society making us feel like we’re falling short. But there are often clear indicators that you’re on the right financial path, even if you’re not exactly where you think you “should be.”

In this post, I’ll walk you through the signs you’re doing well financially. From building an emergency fund to the way you think about money.

After reading this post, you’ll have a clearer picture of what financial progress looks like and know how to assess where you stand.

This post may contain affiliate links, which means we will receive a commission if you purchase through our links, at no extra cost to you. Please read full disclosure for more information.

10 Signs You’re Doing Well Financially:

1. You’re Playing the Right Game

The first step to financial well-being is understanding that there are two “games” you can play to measure success: the status game and the wealth game. They might seem similar, but they’re actually quite different – and choosing the right one is crucial. 

The status game is about external comparisons, driven by the need to outdo or impress others. This is the game of social media highlights, designer brands and luxury symbols. In the status game, your success only matters if others can see it and you appear to be “winning”. 

However, the status game often leads to competition, dissatisfaction and stress because to move up, someone else must be perceived as below you. 

For example, if you buy a Tesla, it only boosts your status if those around you don’t have one. If everyone else in your social circle has a Tesla, your new car might not feel as satisfying. 

On the other hand, the wealth game is all about building assets and freedom over time. It’s less flashy and often invisible to the outside world but is where true success lies. This game involves saving, investing and focusing on assets that will grow and sustain your lifestyle in the long term. 

If you’re putting money into savings and investments, working on a side hustle or investing in self-development, you’re playing the wealth game. It may not look as glamorous as the status game, but it’s where real financial freedom lives. 

2. You’re Consistently Growing Your Income & Skills

One of the most common ways we asses financial success is by looking at income. But how much you earn doesn’t paint the full picture.

According to Forbes, the average income in the U.S. is $59,428. 

While this number might give us a benchmark, it doesn’t tell the whole story and it often won’t make us feel better about where we are.  

The reality is that our perception of financial success is much more influenced by our peers and friends than by national averages. If the people around us earn more, we tend to feel inadequate, even if we’re doing well financially. 

If you’re actively seeking ways to increase your income, such as negotiating for raises, working on your side hustle or building passive income, you’re on the right path. 

The key to increasing your earnings is to focus on delivering results rather than selling time. When you provide value that directly benefits your employer, a raise often follows. And if it doesn’t this can be a sign that you’re ready for a higher-paying role elsewhere. 

Think about how your skills can benefit your company and aim to discuss this with your employer. If a higher salary isn’t an option, look for ways to learn new skills. Each role brings valuable lessons and experiences that can build up your expertise. 

When you’re ready you can leverage this experience to pursue new roles that fully utilise your skills and offer greater financial rewards.  

3. You’ve Mastered the Three Financial Fundamentals

Beyond income comparisons, there are three fundamentals that form the foundation of financial success. These fundamentals go beyond the “status” game and are critical to building real, long-term wealth. 

• Understand Your Relationship With Money

The first fundamental is to understand your financial health by tracking your income and expenses. This may sound simple, but many people don’t have a full picture of their finances. Tracking your spending can reveal areas where you can cut back and help you identify any areas of improvement. 

A tracker can be very useful because it will show you exactly where your money is going and if you’re living within your means. Financial success starts with spending less than you earn and once you achieve this, you’ll have money to save and invest. 

If you’re unsure where to begin, using a budget tool or app can make this process easier and provide valuable insights into your spending habits. Or you can use my FREE budget and expense tracker below. 

• You Have an Emergency Fund

The second fundamental is having an emergency fund – a critical tool for financial security. An emergency fund is a specific amount of savings set aside for unexpected expenses such as car repairs or medical bills. Having even one month’s worth of expenses saved can place you ahead of many people. 

According to Bankrate, only 44% of Americans could cover a $1,000 emergency. So, if you’ve managed to build an emergency fund, it’s one of the signs you’re doing well financially. And you’re already more financially secure than a large portion of the population.  

Related: How to Build an Emergency Fund

• You Manage Your Debt

The third fundamental of financial success, and one of the signs you’re doing well financially, is manageable debt. Debt isn’t inherently bad, but it can become a problem if it prevents you from meeting your basic needs or building wealth. 

If you’re using debt to buy things you don’t need or if you’re relying on debt to pay your bills, it may be time to reassess. 

Here in the U.K. credit card debt is at an all-time high. If you’re able to pay your bills on time without going into debt and avoiding high-interest loans, you’re financially ahead of many people. 

Managing debt is challenging, but setting up a plan to pay down what you owe can make a huge difference in your financial stability and reduce stress. 

Related: How To Pay Off Your Debt Fast

4. You Invest Your Money

If you’re investing in stocks, retirement accounts or other assets, you’re already setting yourself apart from the majority. And it’s one of the clear signs you’re doing well financially. 

Many people fear investing or avoid it due to a lack of knowledge which I completely understand. I also waited years to invest because I didn’t feel confident enough.

But even small, consistent investments in low-risk options like index funds can have a big impact on your future wealth. 

Regular contributions, especially if you’re investing in tax-advantaged accounts like a Roth IRA (US) or a stocks and shares ISA (UK), can be a powerful wealth-building tool. 

If you really want to maximise your investment potential, aim to allocate 30% of your income toward financial goals, including investments. If that’s too high, start smaller and scale up gradually as your income grows. 

This will build a habit of investing consistently, which is more important than timing that market. 

Related: How to Invest in Index Funds (A Complete Beginners Guide)

5. You’ve Broken Free from Soicety’s Expectations

One of the main obstacles to feeling financially successful is society’s expectations. Society tends to celebrate visible achievements, like luxury cars and designer clothes, but these things often don’t align with financial stability or happiness. 

Our perception of success is often driven by societal comparisons rather than individual goals or values. 

Now, I’m not saying there’s anything wrong with wanting nice things. If you genuinely enjoy them, then by all means, go for it! But make sure you’re buying them because they bring you joy—not because society is pressuring you to.

One of my favourite sayings is “If you change the way you look at things, the things you look at change.” When you view your financial journey through your own values and goals, rather than what society deems important, you gain freedom. 

By letting go of external comparisons, you can find satisfaction in knowing that your financial choices are moving you closer to your personal goals – not someone else’s idea. 

Track the progress you’ve made, such as saving for an emergency fund, making regular retirement contributions, or paying off debt. Celebrate your own milestones rather than measuring against other’s highlights. 

True financial success means achieving your goals and having peace of mind – not necessarily impressing others. 

6. You Set Clear Financial Goals

Financial goals are super important for staying motivated on your wealth journey. Without a clear goal, it’s easy to fall into the comparison trap. Successful financial growth often requires a high-reaching but attainable goal. For example, you could set a goal to save $100k, and once you achieve that goal you can set a new one – like building your retirement fund. This type of ever-evolving goal keeps you engaged and motivated throughout life. 

Decide on your goal and make it visible. Studies show you’re up to 10 times more likely to achieve a goal if you write it down or set a daily reminder of it, like a phone wallpaper. 

Having a goal will keep you moving forward and allow you to celebrate progress over time rather than focusing on short-term setbacks. 

7. You’re Working on Increasing Your Net Worth

One of the telltale signs you’re doing well financially is if you’re actively working on building your net worth. Even if it feels like slow progress, you’re on the right track. 

Net worth isn’t just about having loads of cash in the bank. It’s the total value of your assets minus liabilities. 

Each time you pay off debt, save or invest you’re adding to your net worth, even if the increase feels small. Remember, most people’s net worth grows gradually over time, not overnight. 

Also, setting aside money in a high-yield savings account, a retirement account or even contributing to investments means you’re actively adding to the asset side of your net worth. 

Aim to check your net worth every few months or at least annually. Tracking it can be motivating and give you a clearer picture of how you’re progressing. 

Start by adding up assets like savings, investments or property, then subtract any debt you owe. Over time, even small increases will show that your efforts are paying off and help you stay focused on your financial goals. 

8. You’re Growing Beyond Your Comfort Zone

Expanding your comfort zone by learning new skills, investing and taking on responsibilities is essential for financial growth. Skills developed in a challenging job or environment can often provide a valuable financial edge, so don’t be afraid to embrace new learning opportunities. 

Challenge yourself to take on one new skill or financial habit every quarter. For example, if you haven’t started investing yet, commit to learning the basics. 

If you’re interested in personal finance, consider reading one book on money management per month. Small steps build up over time and help you become more financially resilient. 

9. You’re able to Spend Without Guilt

A healthy financial mindset lets you spend on things you enjoy without guilt. It’s common to hear advice like “skip the Starbucks” or “stop eating out.” 

However, if these are things you genuinely enjoy, you don’t need to eliminate them completely. Financial well-being includes the freedom to enjoy life. 

To do this without undoing your progress, create a category in your budget specifically for guilt-free spending. Knowing you have a set amount to spend on yourself each month will allow you to enjoy it without a second thought. 

10. You’re Constantly Learning

Knowledge is power and making time to learn can truly accelerate your wealth-building journey. The fact that you’re reading this blog shows you’re on the right path. 

Many people credit their success to learning from those who’ve already achieved what they aspire to. One of the best ways to do this is by learning from a mentor. But even if you don’t have a formal mentor, you can still gain valuable insights by following trusted financial experts online. 

YouTube is a great resource for discovering knowledgeable voices in finance. I’ll list some of my favourites below:

Nischa

Rose Han

Earn Your Leisure

Wallstreep Trapper

Books are also an amazing way to increase your knowledge. I’ve learned so much from reading books and the best thing is they are super inexpensive and packed with insights. 

Related: 10 Must-Read Money Mindset Books

You can also look for local networking groups, online communities, or professional associations in your field. Even informal mentorship, like gaining insights from a peer or online community can make a huge difference. 

Practical Tips to Stay on Track Financially

Here are a few actionable tips to help you keep your financial journey focused and productive. 

Re-evaluate Your Financial Game

Shift your focus from the status game to the wealth game. Track your net worth and progress toward financial goals rather than comparing yourself to others. 

Use a Spending Tracker

Start tracking your spending to get a realistic view of your finances. Identifying areas where you can cut back frees up more money for savings and investments.

Build Your Emergency Fund

Set a goal to save at least one month of expenses and increase it over time. Having an emergency fund provides peace of mind and security.  

Reduce High-Interest Debt

Make a plan to pay down high-interest debt. Reducing debt allows you to save more, invest and achieve financial goals without the burden of interest. 

Limit Social Media Comparisons

If social media triggers negative feelings about your financial progress, consider reducing your exposure. Focus on your own journey rather than others’ highlight reels. 

Set Personal Financial Goals

Define what financial success looks like for you. Whether it’s saving a specific amount, investing or paying off debt, having clear goals keeps you motivated. 

Final Thoughts about Signs You’re Doing Well Financially

Financial success is deeply personal and isn’t defined by society’s expectations or flashy purchases. It’s about building wealth over time, preparing for life’s uncertainties and achieving goals that bring you peace and satisfaction. 

Remember that financial success doesn’t always feel glamorous, but the security and freedom it offers are invaluable. 

If you’re making progress on the signs in this post, give yourself credit. You’re doing far better financially than you might think. Celebrate your journey and keep building a life that aligns with your values and goals. 

This post was all about signs you’re doing well financially.

Other Posts You May Like:

10 Best Financial Goals to Fast-Track Your Wealth