If You Can Answer ‘Yes’ to These 8 Questions You’re Wealthier Than You Think

Worrying about finances is a natural part of everyday life, but it’s hard to know if you’re overreacting when you only know what’s in your wallet and not how it compares to your peers.

Are you drastically behind everyone else? Should you be panicking, saving to get ahead financially, and worrying more than you already are — or are things a little better than they seem?

Below, we’ve compiled a list of questions you can ask yourself to determine if you’re doing better financially than you think. If you answer yes to most of these questions, breathe a little sigh of relief and relax: Things are far from as dire as you might worry they are.

Can you afford to spend a weekend or two a year at a nearby vacation destination of your choice? If so, whether you’re traveling to the French Riviera or a nearby state, having that disposable income indicates that you’re doing better financially than you think.

A certain portion of your paycheck automatically goes toward paying bills, and some of it goes toward necessities like groceries.

But once you’ve allocated money toward these necessities, do you have a little left over to choose how to spend? For instance, can you treat yourself to a nice dinner once a month if you want to?

No matter how much (or how little) money you can spend on yourself, as long as you have that money, you probably have more financial flexibility than you think.

You’ve probably had your fair share of financial ups and downs. Sometimes, it was harder to make ends meet than others, but the real question isn’t “How many times have you experienced financial difficulty?”

Instead, it’s whether or not you were able to weather the storm, either by picking up a side gig, being more frugal with your spending, or downsizing to a smaller home.

If you’ve gotten through periods of financial stress by finding creative solutions, there’s a good chance you’ll be able to do so again when times get tough.

Any savings amount, no matter how small, is better than having an empty account. Sure, it’s better to have a hefty nest egg for retirement — but if you’ve been able to put some money away already, odds are good that you can continue the trend in the long term.

Generally speaking, impulse buying is often a waste of cash. But if you’re at the grocery checkout and decide you really want that pack of gum, can you afford to give in to the impulse every once in a while, or would doing so substantially set you back?

If you can occasionally purchase something small on impulse, just for fun, you’ll probably be OK — just don’t make a habit out of it.

A steady job to pay the bills is just one component of growing your wealth. If you have other revenue streams to fall back on when times get tough — an investment property or Etsy shop — you’re in a better place financially than someone who depends on just one income stream to stay afloat.

Most of us have credit cards in our back pockets, but there’s a difference between actively choosing to buy something on credit and having no other option.

If you can use credit strategically instead of feeling forced into it just to buy groceries, that’s a good sign that you’re doing well.

Do you have enough cash in your bank account to occasionally donate to a local charity or help out a close friend or family member in need? If you’re offering help more often than asking for help, you’re probably in a solid financial position.

If you answered yes to most of these questions, congratulations! You’re likely in a better financial spot than you’ve been worrying you were. But if you weren’t able to answer yes, don’t panic.

There’s plenty of time for you to make the financial changes that will help prepare yourself financially. Use this questionnaire as a guide to work toward that future success.