You’ve worked hard to build up your savings, pay off your credit card bills, and boost your credit score. But how do you know that this hard work is paying off?
There are several ways to tell if you are making the right money moves that will help boost your financial security, secure the lowest interest rates on loans, and give you access to the best credit cards with the most generous rewards programs.
Want validation that your money moves are the right ones? Look for these signs.1. You’ve built an emergency fund
Emergencies constantly pop up: Your car’s transmission might blow. Your home’s furnace might conk out in the middle of winter. If you don’t have adequate savings, you might have to turn to high-interest rate credit cards to pay for these emergencies. (See also: 8 Ways to Decide if It’s a “Fund-Worthy” Emergency)
But you won’t have to do this if you’ve built an emergency fund. A fund stocked with plenty of cash is one sure sign that you’re making the right money moves.
Financial experts recommend that you have at least six months’ worth of daily living expenses saved in an emergency fund at all times. If you’ve met this goal, be proud: You’re doing something right financially.
2. You’re getting better credit card offers
It’s rare for a week to go by without some bank or credit union stuffing your mailbox with an application for a new credit card. But take a closer look at these applications. Has the quality of your credit card offers gone up? If so, that’s another sign that you’re making smart money moves.
If you’re saddled with tons of debt, or if you’ve made late payments or skipped payments entirely, your mailbox will be filled with offers for credit cards that come with high interest rates and no rewards — if you receive…
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