How do you know if you are doing better than average with your personal finances?

Only one in three Americans can comfortably cover a $400 emergency expense
Source

An emergency fund is basic and essential to financial health. It should be your immediate priority, even if you have debts or other financial concerns. If you pay off your obligations but don't have an emergency fund, you'll be right back in debt when an unexpected need arises. Do you have an emergency fund? Is it enough to cover three to six months of expenses? Do you believe you can comfortably cover a $2,000 emergency expense? If you do, then you are good!

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The average American adult holds $6,569 in credit card debt
Source

Do you have credit card debt? Keep it as low as possible. This is especially true if you expect to retire soon. A fixed income upon retirement might make it difficult to pay off credit card debt.

If your credit card debt is less than $6,500, then you're better than most.

Comparing yourself to others? No! If you don’t measure up some metrics, you can do something about it.

References: https://www.bankrate.com/banking/savings/emergency-savings-report/

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^{I am not a financial adviser. This article is not meant to be financial advice. My articles on cryptos, precious metals, and money share my personal opinion, experiences, and general information on cryptos, precious metals, and money.}

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