Did you know that... Most people are living one step away
from financial disaster. Are you in a place where your
financial habits are jepardizing your future? Take this
quick test to see if your habits are setting you up from
disaster.
I lost my shirt because of bad financial management and
impulsive decisions. Many people are fooling themselves by
turning their cheek and looking the other way when it comes
to financial situation. Is this you? Takethis brief
questionaire on financial fitness that I found in the aisle
of my local grocery store. It was published by American
Media Mini Mags, Inc. Authored by Peter Reilly.
Which phrase best describes your financial philosophy?
a) "Shop till you drop."
b) "Eat drink and be merry, for tomorrow we die."
c) "A penny saved is a penny earned."
What's the highest interest rate you pay on a credit card?
a) 19 percent.
b) 12 percent.
c) 0 percent because you make all purchases in cash.
How do you plan for vacation?
a) You charge it to a credit card and worry about paying for
it later.
b) You shop discount travel travel services online like
Priceline.com or Orbitz.com and look for the best deal.
c)You budget a little each month so that you can afford that
great trip.
When your credit card bills come in each month, you are:
a) panic stricken and have to borrow from one card to pay
the minimum on another.
b) surpiised at how much you spent.
c) able to pay the bill in full.
What do you do if you get a raise?
a) Splurge on that home entertainment system you always
wanted.
b) Pay some bills and treat the family to a nice dinner
out.
c) Stick the extra money in a family emergency fund each
month.
When buying insurance, you:
a) pick an agency out of the newspaper that advertises the
cheapest rates.
b) go to an established agency because it's near your
house.
c) research agencies and compare prices for the best deal
without sacrificing service.
What do you do when it's time to pay your taxes?
a) Miss the April 15th deadline so you have to end up paying
fines.
b) Don't itemize and just fill out the 1040EZ short form.
c) Itemize and use an online program like TurboTax or tax
preparation firm to legitimately reduce your taxes.
When buying a car, you
a) pay sticker price and take whatever additions the
salesman suggests.
b) haggle a little, but give in if it comes to a
confrontation.
c) do your homework, then are prepared to walk out if the
dealer can't meet your price.
How much do you save each payday?
a) Nothing I live paycheck to paycheck.
b) You put 5 percent into a 401K.
c) Put 10 percent in savings, plus 10 percent in a 401K
retirement plan.
When buying a home, you:
a) get more house than you can afford because you'll make
money when you sell it.
b) get a home mortgage that's 50 percent of your income and
stretch the payments over 30 years.
c) get a mortgage that's 25 percent of your income and pay
it off in 15 years.
How did you do? Where are the majority of your answers?
Let's take a look; if the majority of your financial quiz
answers were in the As range, you need help and to realign
your money habits and thoughts.
If they are in the Bs range you're like the majority of
people out there making ends meat , but you can do better.
If you're in the cs range your a financial genius!
Reevaluate the quiz and compare these results to your FICO
scores I bet you'll see the correlation. A simple shift in
thought and action will set you on the right path.
Source: http://www.ArticlePros.com/author.php?Ryan Wegman
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