Simple 12 signs that will make it clear if you are on the right track while taking care of your finances.

Do you have a steady flow of income?

Do you understand your spending pattern?

If you know how much you earn and how much you spend, simple arithmetic will reveal what you could afford. If you are doing justice to your financial well-being by your current spending habits you are good with money management.

Do you pay your bills without adding debt?

While this might be like super obvious and a mandatory expense, if you can pay all your bills regularly pat yourself on the back. "This means you can afford housing, utilities, food, transportation, EMIs and other important needs every month without going into debt," says Quatum Mutual Fund.

Shopping is not always a wrong thing. We do have a wish lists waiting for us. Yes, if you can shop for things you want without any dent in your financial planning don’t worry, you are good with managing your money.

Do you save money every month?

While being able to spend on things you want is good for money, saving money regularly is also important. Kudos, if you are saving enough every month. Saving money is essentially not spending on things you probably don’t need and keeping aside for some emergencies.

Have you started your retirement planning?

Quatum Mutual Fund advises to start your retirement planning ideally from your very first pay cheque. If you are considering retirement planning right from the beginning and setting a portion of your earning towards your retirement fund you are good with managing your money.

Yes, if you are planning to purchase a house or a car or even a holiday and investing right for your financial goals it is surely a good step.

Money wisely used to achieve your goals, means you are good with managing your money.

Setting aside a part of your income towards investing for your financial goals (long-term and short-term) before even you start spending is sign of a disciplined investor.

Do you check your credit report regularly?

Not many of us do this regularly. So if you are one of those who check your credit score regularly you are good with your money.

"Your credit score helps lenders decide whether they feel comfortable lending you money when it’s time to buy something major such as a car or a home," says Quantum Mutual Fund.

Most of us carry credit cards. Is it a good thing or a bad is a debate forever. There are people who not just carry credit card but also know how to make the most of it.

If you have managed to stay away from credit card debt you are good with managing your money.

Do you have healthy money talks?

Talking to your significant other or your family regularly about money is crucial. If you and your family have regular conversations about your financial reality and future, consider yourself ahead of the game. This helps you stay align with your goals together and also strategically control your spending habits.

Are you learning new things about money?

Do you invest?

Needless to say, last but not the least is that you are investing. "If you are investing right to achieve your financial goals or simply build wealth, you are good with managing your money. Investing via equity mutual funds could be your route for long term, which will help you lead the life you are aiming for," says Quantum Mutual Fund.

A big thumbs up if you see all the above 12 signs in yourself. Being good with money will allow you to create a wealth.