The Personal Finance Trouble Quiz
It’s not tough to realize you are in trouble with your personal finances when you take a look at the signs. Take this personal finance trouble quiz to find out if it’s time for a big change when it comes to how you manage your money. It only takes five easy questions to figure out if your personal finances need help.
1. How often do you run out of cash before your payday?
A: Never.
B: Sometimes.
C: Each and every month.
2. What do you use your credit cards for?
A: Only for emergencies, although my savings account can cover most financial emergencies.
B: Frequently, but I have my credit card balances under control.
C: All the time, or I would if I could get a credit card.
3. How much money do you have in a savings account?
A: Enough to cover my expenses for a few months.
B: At least $1000
C: Hardly anything, or I don’t have a savings account at all.
4. What is the status of your debt?
A: I don’t have any, or I only have a mortgage.
B: It’s under control and isn’t overwhelming at all.
C: It’s stressful and I feel very overwhelmed by the amount of my debt.
5. What is your credit score?
A: It’s within the excellent range.
B: It’s within an acceptable range, although it could be better.
C: It’s bad. I usually get turned down when I submit a credit application.
Results: For every “A” answer, give yourself 2 points. For every “B” answer, give yourself 1 point. For every “C” answer, you get no points. Tally up your total points and find out your results.
10-8 points: Great job! Your personal finances are under control and you are on the right track with your money.
7-5 points: Although you have your personal finances under control for the most part, it may be time to review your spending and the way you deal with your debt so you don’t wind up in financial trouble down the road.
4-0 points: It is time to rescue your personal finances! Draft a budget, get control of your debt, and start putting some money away in an interest-bearing savings account before you go completely bankrupt.
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