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The content of these blog posts and pages should be considered general information for educational purposes only. The author will bear no responsibility or liability for any action taken by any person, persons or organisation based on this information.

Sunday, September 9, 2012

Pop Quiz - How healthy are your finances?


Take My Financial Health Quiz
Here’s a bit of fun to see where you are financially.

  1. Which musical saying best describes you?
    1. I’m in the Money
    2. I Will Survive
    3. Another Day Older and Deeper in Debt

  1. How many credit cards do you have?
    1. 1
    2. 0         
    3. 2 or more

  1. How’s your investment portfolio doing?
    1. Supporting my lifestyle nicely thank you
    2. Some property/ some shares/ some cash – not too bad
    3. What’s an investment portfolio? Do you mean my super?

  1. What do you do when you decide you really want something?
    1. Buy it using surplus funds
    2. Save up
    3. Use the credit card/ get a loan

  1. Who decides your income level?
    1. I do
    2. My boss
    3. A government department

Results
Mostly A’s
Congratulations.  If you are not one of the truly wealthy, you soon will be.  You have realised that you alone are responsible for your financial situation and have put processes in place to maintain your lifestyle for years to come.
Mostly B’s
You’re doing okay.  You use money responsibly to maintain a fairly comfortable lifestyle.  You are probably not much of a risk taker but have realised the importance of putting some money aside for the future.  You may benefit from setting some goals and working with a financial planner to achieve them.
Mostly C’s
Constant borrowings mean that you are always paying more for items than they are worth.  You find it difficult to save because there is nothing left to save after the bills are paid.  You would probably benefit from keeping a diary of everything you spend for an entire month and looking at the results critically.  You may be surprised at how much you actually spend on things.

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