Are You Financially Fit? Here Are 5 Ways To Test Your Financial Fitness

August 12, 2021 | Mason Roberts

are you financially fit

Financial fitness can be a tricky thing to achieve. Many think it’s solely tied to how much money a person makes – so the way to determine are you financially fit or not is to determine if you’re rich or not.

But rich people aren’t always financially fit. Sure, they have more resources to cover their bases, but someone can easily be making six figures and still be financially vulnerable. Sounds difficult to believe, right? But it’s true. The answer to are you financially fit is not always related to making a lot of money.

You can be making millions, and still be living above your paygrade because spending money is the easiest thing in the world.

So let’s cover 5 questions that can help you determine are you financially fit or not, and talk about ways of dealing with unexpected expenses, including using payday loans South Carolina has.

5 Questions To Determine If You Are Financially Fit

1. Do You Know What Your Net Income Is?

Do you know exactly how much money you get with each paycheck – after all the required taxes and other deductions are taken care of?

You’d be surprised how many people don’t.

But financially fit people do. Learning your net income is the very first step where you start being financially fit.

2. Do You Know Where Your Money Is Going Each Month?

You may wonder why you can’t be financially fit without knowing your net income? The answer is that financially fit people plan their expenses according to their net income.

They know how much money they get – and they know exactly where that money is going.

So, the next step to determine are you financially fit or not is to take a close look at your bank transactions and determine if you know about them all.

Do a little exercise – write down all your monthly expenses (or what you think your monthly expenses are) on paper and compare them to your actual expenses as seen on your bank statement. You might be surprised at how many lines of expenses you aren’t aware of.

impulsive spending

3. Do You Have A Handle On Impulsive Spending?

Impulsive spending is probably the biggest enemy of financial fitness. Because being impulsive with money means the money’s controlling you, not the other way around.

The true deviousness about impulsive spending is that most of us usually don’t make large purchases impulsively. We’re not likely to spend an extra $500 at the store because we like something and decide we need to get it on the spot.

Large purchases are more likely to be planned and accounted for.

It’s the smaller ones that threaten our financial fitness – extra $5 here, extra $15 there. That is what quickly adds up by the end of the month.

4. Do You Have A Long-Term Financial Strategy?

Are you financially fit enough to retire at a convenient time? It doesn’t matter if you ever plan to. Maybe you love your job so much, you can’t imagine retiring even after turning 70. But it’s important to have the freedom to retire when you choose to.

Financially fit people have long-term financial plans. And those plans – at the very least – include regular contributions to their retirement fund to be able to retire at a reasonable age.

5. Do You Know What To Do If You Get Hit By An Unplanned Expense?

This is possibly the most important question to help you determine are you financially fit or not. Do you have the ability to cover an unexpected expense? And if not, do you know where you can get the funds to do so?

Most Americans can’t cover a $400 emergency out of pocket. That’s why knowing a source for quick funds can be essential. That’s when searching for “payday advance near me” might be a warranted course of action for you.

But did you know that you can actually start the process for a payday advance through online payday loans? Let’s have a closer look.

payday advance near me

How To Get A Payday Advance Near Me

To get a payday advance, there are some documents you’d need to have to qualify. So, before getting started, make sure you’ve got all the required items.

You’ll need a government-issued ID proving you’re over 18, proof of income (typically your most recent pay stub), and a blank check from an active checking account in your name.

If everything’s in order, you can get started online from the comfort of your home by submitting a filled-out payday advance form on Carolina Payday Loans, Inc. to send your information to your preferred location.

Carolina Payday Loans, Inc. has multiple locations across the state and you can easily find the closest to you using the Carolina Payday Loans, Inc. store locator, saving you from needing to search for payday advance near me.

When your form gets processed, which only takes a few minutes, a loan representative will get in touch with you and provide all the necessary information about the process. They will also schedule an appointment for you.

Take the required items to the appointment for the loan representative to assess and determine the terms of your loan. If you get approved, you may get the loan you qualified for the same day.

Submit An Online Form For A South Carolina Payday Loan

When you’re working on achieving financial fitness and some sudden expense hits, you don’t need to search for payday advance near me anymore.

With Carolina Payday Loans, Inc., you can start the process online, from the comfort of your own home, and finish it in the store in under 30 to 45 minutes. Submit your form today to get started.