We all know saving money is important.

But sometimes it’s hard to tell if we’re actually making progress.

It’s like planting a garden.

You want to see those little shoots of growth to know you’re doing something right.

But how do you know if your savings are on the right track?

Let’s look at three clear signs that you’re building a solid foundation for your financial future.

The Savings Part: Recognising Your Progress

• Regular Contributions:
  • You consistently put money into your savings, even if it’s small amounts.
  • Whether it’s weekly, monthly, or after each payday, you’ve made saving a habit.
• An Emergency Fund is Growing:
  • You’re actively building an emergency fund to cover unexpected costs.
  • You understand this is a safety net. Not a piggy bank for impulse buys.
• You’re Tracking Your Spending:
  • You know where your money is going and can identify areas to cut back.
  • You’re using a budget, an app or a simple notebook to keep track of your expenses.

These signs show you’re taking proactive steps to secure your financial future.

The Real Life Part: Feeling More Secure and Confident

It’s not just about the numbers. It’s about the feeling of security and confidence that comes with knowing you’re prepared.

It’s the peace of mind of having a buffer for life’s unexpected events.

There’s the relief of knowing you can handle a car repair or a broken appliance without going into debt.

It’s the growing assurance of having a financial safety net.

It’s about building a sense of stability and control over your money.

• Reduced Anxiety: Less worry about unexpected expenses.
• Increased Financial Independence: Feeling more in control of your financial destiny.
• A Sense of Achievement: Seeing your savings grow and knowing you’re on the right track.

Recognising these signs can motivate you to keep up your good saving habits.

Tips:

• Automate Your Savings: Set up automatic transfers to your savings account.
• Review Your Progress Regularly: Check your savings and budget to ensure you’re on track.
• Celebrate Small Victories: Acknowledge and reward yourself for achieving your savings goals.

Seeing these signs means you’re building a strong foundation for your financial future. Keep up the good work!