3 Financial Questions to Ask Yourself


One of the essential elements of having well-controlled finances is a willingness to question your finance-related choices. If you are willing to ask yourself the three questions below, then you should be able to formulate a balanced financial management approach that will greatly benefit you both now, and in the future.

Our generation lives a fast-paced life where we feel the need to impress and show others how much we are worth by the lifestyle that we live. This can become very expensive, don’t you agree?

“Am I really sticking to my budget?”

Budgets are hugely useful, but it’s always worth checking how completely you stick to the plan you set out at the start of every month. If you tend to blur the lines between budget sections, then a reworking of how you allocate funds may be necessary - budgets should be malleable and updated frequently, so they are able to accurately reflect your lifestyle and spending patterns.

“Is my emergency budget sufficient?”

Emergency budgets help to guard against unexpected costs, but it’s always worth asking yourself just how reliable this provision is. If one unexpected expense - such as your fridge breaking down, or your car needing to be repaired - would likely rinse your emergency budget completely, it’s worth focusing on adding to your fund in order to provide cover for a broader range of financial shocks.

“Do I have the insurance I need?”

The number of insurance products a person needs is entirely subjective, but it’s worth examining all of the most common options to ascertain if they may be beneficial for you. It’s worth taking the time to research home insurance, gadget insurance, health insurance, car insurance, and life insurance; below is an infographic on the latter so that you can get started sooner rather than later.

Infographic Design By  Do I need life insurance

Infographic Design By Do I need life insurance

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