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Financial Health Check
Answer each question. If true, tick the box.
· Be a hard grader so if the statement is sometimes true please DO NOT tick the box until the statement is always true for you.
· If the statement does not apply to you, tick the box.
· If the statement will never be true for you, tick the box. (You get "credit" for it because it does not apply or will never happen.)
· you may change any statement to fit your situation better.
I currently save at least 10% of my income.
I pay my bills on time, virtually always.
My income source/revenue base is stable and predictable.
I know how much I must have to be minimally financially independent and I have a plan to get there.
I have returned or made-good-on any money I borrowed.
I have written agreements and am current with payments to individuals or companies to whom I owe money.
I have 6 months' living expenses in a money market-type account.
I live on a weekly budget which allows me to save and not suffer.
All my tax returns have been filed and all my taxes have been paid.
I currently live well, & within my means.
I have medical insurance.
My assets (Income, car, home, possessions, treasures) are well-insured.
I have a financial strategy for the next year.
I have no legal clouds hanging over me.
My will is up-to-date and accurate.
Any parking tickets, alimony or child support are paid and current.
My investments do not keep me awake at night.
I know how much I am worth.
I am on a career/professional/business track which is or will soon be financially and personally rewarding.
My earnings are commensurate with the effort I put into my job.
I have no "loose ends" at work.
I am in relationship with people who can assist in my career/professional development.
I rarely miss work due to illness.
I am putting aside enough money each month to reach financial independence.
My earnings outpace inflation, consistently.
There are 25 boxes - how many did you tick?
SCORING
Initial scores for the first-time participant range, on average, between 7 - 17 points out of the 25 points possible.
Most people who are get advice from 4 Financial Advice increase their scores between 2 and 6 points per month. Points are added more quickly at first, slowing down significantly after one has added 5 or so points. Major plateau areas are at 18, 20 and 22. Those last few are the ones which are most worth working on.
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Copyright © 2008 4FinancialAdvice All Rights Reserved.
Ring us on 1300 882-456 to speak to a financial adviser or make an appointment.
Copyright © 2008 4FinancialAdvice All Rights Reserved.