[Money Moves] 6 signs you are on the wrong track to financial well-being

African American woman counting money in living room — Essence

No savings

Financial advisors often recommend saving 10-15 percent of your total income. If you can’t save at least 5 percent, even while paying debts, this could be a sign that you are not doing well with finances.

By 30, your account should look like a year’s worth of salary, experts say. For instance, if you make $50,000 a year, you would have $50,000 saved already.

By 35, you should have twice your salary, experts add.

For many, spending on items and services that they don’t really need limits them from saving.

If you are not putting money away during your working years, retirement is going to be difficult for you. You will even put a financial burden on your children and future generations.