Financial Fitness Quiz
As each new year begins, financial fitness is usually one of those areas we have to address but, just like physical fitness, we tend to ignore as much as possible.
So let's ask the questions. Do you think you are managing your money well? Or, do you feel your spending is out of sync with your income?
How Financially Fit Are You?
Would you be able to financially survive a job loss or a medical emergency? When life deals those unexpected blows, you want to be as prepared as possible.
To see what kind of shape your in, take a few minutes and fill out our financial fitness quiz.
Answer the questions as they apply to you and your household.
Count the number of a, b, and c answers and follow the formula to calculate your score.a. _______ X 1 = _______
b. _______ X 3 = _______
c. _______ X 5 = _______
Total = _______
Check you score according to the following key:
Understanding Your Score:Very High
If your financial fitness score is “Very High”, use the Success Planner with Mvelopes to solidify your current financial habits and behaviors. Look for ways to adopt methods of financial management that will ensure your continued financial fitness long into the future.Moderate to High
If your financial fitness score is “Moderate” or “High”, use the Success Planner to look for new ways to increase your fitness level. Much of what you are doing is placing you on the right path, however, with some additional adjustments, you can move to a higher level of financial health. The Success Planner will help you along the way.Low to Very Low
If your score is “Low” or “Very Low”, learn and adopt the principles and methods that will assist you with developing new thought processes, behaviors and habits. You need to place yourself on a new financial path and the Success Planner and the 12-week financial fitness program at Mvelopes will help you be successful with this objective.
Being financially fit requires you to develop and maintain a few good money habits:
Save Money - Get a savings account that gives you the best return available. There are great easy access accounts available if you look in the right places. For example, ING Direct: has The Orange Savings Account. Earn high interest. Great rates, no fees, no minimums. Start saving in under 5 minutes.
Avoid Debt - If you have debt, eliminate it as quickly as possible. Help is readily available through the Debt Action Guide.
Invest Carefully - Research thoroughly and read all the small print. When in doubt, ask a professional.
Do Not Lose Money - If it sounds too good to be true, it probably isn't true (think Bernie Madoff). You work hard for your money so be aware of every penny you spend or plan to spend.(Download and read the free Money For Life ebook. You'll be glad you did.)
More About Budgeting
The Law of Attraction attracts to you everything you need, according to the nature of your thought. Your environment and financial condition are the perfect reflection of your habitual thinking. Thought rules the world.
~ Dr. Joseph Edward Murphy
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You will see how simple it can be to plan and achieve long-term financial freedom.