Are You Financially Healthy?

Well here are some questions listed below to check the health of your finances. You need to answer them in all honesty to exactly know how what is your financial health.

1. How much percentage of your income do you save monthly?
a. > then 10%
b. < then 10%
c. Nothing

2. How often do you adjust and review your retirement plan?
a. Atleast once a year
b. Only once in five years
c. You dont have any

3. If you were to review your ability to meet any future financial obligations, you would feel...
a. Relaxed
b. a bit concerned
c. very concerned

4. How many times in the last few months have you paid your bills late?
a. None
b. 1 to 5
c. 6 or more

5. How often do you make your credit card payment on time and completely?
a. Always
b. Only a few payments are delayed
c. There is always some carried forward balance.

6. Do you always budget your monthly spending and always plan it?
a. Always
b. Sometimes
c. Never

7. All high Cost or major purchases are always..
a. Planned in advance and money is set aside for them
b. Planned but no money is set aside for them in advance
c. Unplanned

8. If a sudden emergency were to arise and you would have to take out cash for it then you would use..
a. Cash already available
b. Money available in credit
c. No funds unless bank/someone approves a loan

9. If you lost your job or your source of income, how long would you be able to provide for your basic expenditure
a. Between 3 to 6 months
b. For only 1 month
c. Less then 1 month

10. I have insurance cover for the property, autos, etc...
a. Enough to cover replacement cost
b. less then enough for replacement
c. Dont have any Coverage

Give 5 points for every time you answered a, 3 points every time you answered b and 1 point every time you answered c. If you scored between 40 to 50 you are in excellent financial health and If you scored between 20 to 39 you have made a good start but you need to address a few issues. If you scored below 20, YOU NEED TO START READING THIS BLOG MORE OFTEN AND BOOK MARK IT AND MAKE IT YOUR BIBLE.
And regardless of what you do examine your financial health.

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