Are finances often the source of contention and conflict between you and your companion?



10: Never 8: Seldom 6: Monthly 4: Twice a month 2: Weekly 0: Constantly

Do you worry about having money for your needs?

10: Never 8: Seldom 6: Monthly 4: Twice a month 2: Weekly 0: Constantly

How much money do you save each month?

10: 10% of your gross income 8: 6% 6: 3% 4: 1% of your income

2: you save very little or nothing at all 0: you spend more than you make

What percentage of your income goes towards debt elimination?

10: have no debt 8: less than 20% for debt payments 6: less than 30% 4: less than 40%

2: less than 50% for debt payments 0: pay over 50% for debt payments

Do you keep your finances organized, including bank accounts, insurance policies, trusts, wills etc.?

10: You know where all financial documents are and have established a will and/or trust.

8: You can easily find all financial documents.

6: Your financial documents are in one place.

3: You could find your financial documents if necessary.

0: You and your companion do not know where financial documents are kept.

Are you financially prepared for the future?

10: You have three months of emergency savings, a retirement plan and you are properly insured.

8: You have some savings and proper insurance.

6: You have proper insurance.

4: You have a current savings account and plan to reevaluate your insurance.

0: You are living day to day.

Do you have a retirement plan?

10: You have a written retirement plan with a retirement date and annual income needed.

7: You are working on a retirement plan and make regular deposits into retirement account(s).

4: You make occasional deposits.

1: You have thought about making a plan.

Do you understand how taxes can affect your retirement savings?

10: You take advantage of tax-free and tax-deferred investments.

8: You are investing in a tax deferred IRA and/or retirement plan(s).

5: You have learned about your employer's tax deferred savings program.

2: You have considered a tax-deferred savings plan.

For every book or article you have read on financial matters in the past year give yourself one point (up to ten).

Give yourself one point (up to ten) for every significant tax law you know that directly affects your financial situation.

Total Score: __________ ___________

0 to 20 Disastrous! Immediate action is required.

21 to 40 Dangerous: Your future is at stake if no action is taken.

41 to 60 Dreary: Improvements are necessary to ensure financial stability.

61 to 80 Good: Minor changes are needed to ensure financial freedom.

81 to 100 Dead on! Keep up the good work.

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