How to spot the green flags of financial wellbeing

When we talk about money, the focus is often on what we might be doing wrong: overspending, not saving enough, and taking out debt or loans we can’t afford. But what if we flipped the narrative and started celebrating the signs that we’re actually doing well?

According to research from Choosi’s Financial Red Flags Report, the majority (82%) of Aussies see setting financial goals as a green flag. The catch? Almost a third don’t have any.

The research identified a range of financial green flags, from paying off credit card balances monthly (86%), to automatically setting aside a portion of income for savings each month (86%). But many respondents simultaneously admit to not doing this in their own lives.

So, what practical steps can be taken to follow through on these good money habits? We spoke with Glen Hare, financial adviser and co-founder of Fox & Hare, who shared some practical, down-to-earth advice that anyone can follow. Let’s dive into the seven signs (a.k.a. financial green flags) that indicate you might be more financially savvy than you think, and how to foster good financial health and wellbeing.

1. You bucket your cash flow, and you actually stick to it

According to Glen, one of the best things you can do for your financial wellbeing is to “automate away bad spending habits before they happen.”

He recommends bucketing your income into three categories:

• Essential bills
• Everyday spending
• Dedicated savings goals

“On payday, automate transfers to move your salary into these separate bank accounts,” Glen says.

“Bucketing your cash flow removes the temptation to overspend from your main account.”

If you’re someone who always wonders where your money went, this is your blueprint. Automating where your money goes means you don’t have to make decisions every time you open your banking app – they’re already made for you.

For an added layer of self-control, Glen suggests making your savings accounts harder to access.

“Consider setting up accounts that take a few days to transfer from, or ones where you actually have to go into a branch. That friction helps you stay disciplined.”

It’s like building a financial fence around your goals, one that keeps impulse purchases out.

2. You’ve detoxed your social media (and your inbox)

This one might surprise you, but Glen makes an important point: Your social media feed and inbox directly affect your spending habits.

“Unfollow influencers and social pages that are constantly advertising to you,” Glen says. “That ambient pressure to buy things can make you feel inadequate about your lifestyle or finances – and that’s not helpful.”

The same goes for sales emails. Branded newsletters are designed to trigger spending urges, not support your savings goals.

“Your inbox is a marketer’s dream and a minefield for your financial goals.”

If you’re trying to stay on track, make it easier on yourself. Unsubscribe from temptation, reclaim your peace of mind, and let your wallet breathe.

3. You have a regular ‘money date’ with your partner

Money has often been a taboo topic, particularly in relationships. But now, talking about money with your partner is a green flag. Glen’s seen firsthand how powerful it can be to sit down and plan your financial goals and household budget together.

According to the Choosi Financial Red Flags Report, discussing salary and finances early in a relationship is a green flag for over one-third of respondents (38%).

“I do this with my partner every year, and it’s been transformative,” he says. “We talk through what we want to achieve in the next 12 months, how much we’ll need to save, and what changes we might need to make.”

The result? You’re not just budgeting, you’re building a shared vision.

“Having a shared ‘why’ behind our savings goals makes them so much easier to stick to,” Glen adds. “And it never hurts to have an accountability buddy.”

Whether you’re saving for a holiday, a house, or just peace of mind, scheduling regular check-ins keeps both of you aligned and connected.

4. You know exactly what subscriptions you’re paying for

It may not be glamorous, but auditing your subscriptions is one of the simplest ways to gain more control over your finances.

“Take an hour to review your bank account charges and list all your recurring subscriptions,” Glen says. “You’ll probably be surprised to find at least one you’ve forgotten about.”

From unused streaming platforms to sneaky app charges, it’s easy for these small expenses to pile up. And while they may seem minor on their own, they add up fast.

Glen’s advice?

“Cancel anything you no longer use, need, or value. Your future self will thank you.”

The goal isn’t to deprive yourself, it’s to make sure every dollar is going somewhere that matters.

5. You meal prep like a pro (even if your friends don’t get it)

While budgeting advice often goes straight to “cut out your avo toast”, Glen’s take is refreshingly balanced.

“Most people are disgusted to hear that I prep two meals every Sunday, then eat the first for lunch and the second for dinner Monday to Friday, but I will not be shamed,” he laughs.

He’s not saying to never eat out again, but he is saying be honest about how much it adds up.

“Buying lunch and coffee out every day might not stop you from buying a house, but $15, five times a week, 52 weeks a year – that’s enough for a week in Thailand, Bali, or Japan.”

So, if you’re someone who packs lunch most days or brews coffee at home, that’s a serious green flag. You’re prioritising your long-term goals, and that matters more than fitting in at the office café.

6. You avoid “Buy Now, Pay Later” schemes for everyday spending

There’s no denying the convenience of Buy Now, Pay Later (BNPL) services. But Glen says they can quickly spiral if you’re not careful.

“While credit has its place, using BNPL for everyday purchases or luxury items can drop you into financial hot water,” he explains. “It makes it easy to overspend on things you can’t truly afford.”

According to the Choosi Financial Red Flags Report, focusing spending on essential items before discretionary ones is a green flag for the majority of respondents (78%).

If you find yourself relying on BNPL to get through the week, or racking up payments for clothes, skincare, or tech, it might be time to reassess your money habits.

“Of course, credit can be a useful buffer in times of hardship or emergency. But don’t get caught in the trap of racking up debts by buying more than you need.”

The takeaway? Choosing to delay a discretionary purchase until you can actually afford it is a big green flag.

7. You’ve set a daily spending limit (and actually stick to it)

Some people thrive on structure. If that’s you, Glen’s final tip might be your new favourite challenge.

“Set a daily spending limit, and at the end of each day, review your expenses. Whatever’s left? Immediately transfer it to your savings or investment account, or use it to pay off debt.”

It’s not just a budgeting tool; it’s a momentum builder. The little dopamine hit you get from making progress each day can be incredibly motivating.

“This is an active, fast-paced challenge with a nice fast dopamine loop,” Glen explains. “It’ll keep you engaged and accelerate your progress.”

If you love a habit tracker or a good streak, this is your green flag system. You’ll see results quickly, and you’ll feel more in control day to day.

Build momentum and foster healthy money habits

If you’ve read through this list of financial green flags and thought, “I do a few of these”, that’s a good sign. Financial health is about building sustainable habits, understanding what’s helping or hurting your goals, and being willing to make small adjustments.

Glen’s tips are designed to help you understand where your money goes and ensure your hard-earned income works as hard as you do.

If you’re looking to take your next step in securing your financial wellbeing, reviewing your insurance coverage can be a smart move, too. It’s one of those things that feels easy to put off, but when you need it, you’ll be glad you took action.

Curious about how cover, like life insurance or income protection insurance, could help support your financial goals? Explore your options with Choosi from it’s Approved Product List today.