1. Are you 30 or older?
2. Do you have at least $3,000 or three months of living expenses saved up to cover emergencies?
3. Are you participating in your company's 401(k) or pension program?
4. Do you save or invest beyond your retirement plan and emergency fund?
5. Are you aware of how much you need to save each month to retire at the age you would like?
6. Do you have life insurance (at least enough to cover funeral expenses)?
7. Do you have health insurance?
8. Do you have insurance that covers disability (besides Social Security)?
9. Do you have a will?
10. Do you spend less than 25 percent of your income on your rent or mortgage?
11. Are you investing or saving money with each paycheck in a savings account, money market account or mutual fund?
12. Are you paying your credit cards in full each month?
13. Are you paying all of your bills in full each month?
14. Do you know the interest rates on your checking, savings and credit card accounts?
15. Have you reviewed your credit report lately?
16. Do you balance your checkbook each month?
17. Do you track your monthly expenses?
18. Do you regularly read about improving your personal finances?
19. Do you have a financial plan?
20. Are you saving at least 10 percent of your gross income each month?
How Did You Score?
Give yourself five points for each "Yes" answer, and zero points for each "No" answer.
0 to 40 points: Financially Flabby
You could be headed for financial trouble. You need to get your spending under control immediately. If you don’t have a monthly budget, draw one up and follow it. Use the Spending Guide on the back of this flyer to figure out where you stand financially. Put away your credit cards and cut out all unnecessary spending until you can answer “no” to all or most of the questions on the Financial Fitness Test. Visit FinancialFitness.org for additional FREE resources!
45 to 75 points: E for Effort
You're definitely on the right track financially, but keep an eye on your budget and your financial priorities. Don’t let credit use get out of hand and watch impulse spending. Use the Spending Guide on the back of this flyer to find out how your expenses compare to your income. Visit FinancialFitness.org for additional FREE resources!
80 to 100 points: In Great Financial Shape
You are in terrific financial shape! Your hard work has paid off, and your personal financial plan is healthy and thriving. You’re sensible about using credit and take budgeting and saving seriously. Be sure to update your financial plan frequently, as your life changes.