7 Lucky Character Traits of the Financially Fit

Even if you manage to cover your day to day expenses or as it’s know living paycheque to paycheque, I think there are some very basic characteristics of of debt free people.  I do however think “it’s not about how much money you make but what you do with it.” That being said, I believe financial fitness can be achieved no matter how much you make.

Thanks for the link from the Canadian Finance Carnival #4.

Some other great posts this week include:

• Craig at Free From Broke presents Credit Report Versus Credit Score, saying “Many get a credit report and a credit score confused. Here the difference between them and why they are important.”
• Miss T at Prairie Eco-Thrifter presents Financial Lessons From Training for A Marathon Part 4, saying “This segments talks about how to get into the flow of saving, budgeting, and living green.”
• A.Rajah at Canadian Accountant Tips presents Capital loss , saying “The post is about how to report capital loss in your income tax return. It described with an example”

What are the differences of people that become financially fit verse those that don’t – regardless of their income?

Characteristic #1. Self sufficient. They take pride in being independent. They live within your means. If they can’t afford to pay cash for it they don’t buy it unless of course it’s acceptable debt. Loans for eduction and home ownership fall under acceptable debt.

Characteristic #2. Patience. Patient people know it takes time to acquire what they want. They have saved and waited before purchasing, which leads us to the next characteristic.

Characteristic #3. Not a shopaholic. They think twice before they buy. They don’t buy things on the impulse and shopping is not their high.

Characteristic #4 Detailed Oriented. They know how much they make and how much they spend. They keep track of every penny and where it goes.

Characteristic #5 Responsible. They take responsibility for their actions and do not blame others or circumstances if things go wrong. They are take action to change what is not right.

Characteristic #6 Confident. Financially fit people don’t feel pressured to buy or be like others  in keep up with the Jones. They don’t judge their self worth by wealth.  They know their status in life is conveyed by their self confidence.

Characteristic #7 They are practical. Practical people know the meaning of value. A kitchen table is a kitchen table whether you buy it at Ikea or The Bombay Company.

For individuals that are seriously wanting to become financially fit, it takes more then these 7 basic character traits but these character traits will need to be acquired to reach success.  What character trait do you think would be valuable to being financial fit?