Self Assessment Tests

How Well Do You Manage Your Money?

Money management isn’t just for your parents or the well-dressed people toiling downtown. Even if you’ve only got a few expenditures, you’d be smart to have a plan. Use this brief assessment to see how good you are with cash right now.

And give yourself extra credit if you can answer “Yes” to any of these questions:

  • Do you have disability insurance right now?
  • Have you started a diversified investment plan, a 401k, Roth IRA, traditional IRA, or some other savings plan?
  • Is your credit score is above 693 (US Average according to Experian.com)?
  • Do you clip coupons of any kind?
  • Do you have short and long-term financial goals written down and do you refer to them/update them periodically?
  • Do you reconcile your bank account statements?

Start Test

 

1. Do you have a savings account that you regularly make deposits into?

2. If you get a raise or cash gift, do you put it into savings?

3. Do you spend a large portion of your budget on discretionary expenses, i.e. entertainment, cigarettes, travel, games, etc.?

4. Do you have a checking account to pay your bills with?

5. Do you know how to balance a checkbook?

6. Are you using a budget that lists income, expenses, and the difference between the two?

7. Do you have an emergency fund with at least three months worth of expenses saved?

8. Does less than 20% of your monthly income go to pay for loan and credit payments?

9. Do you have enough money every month to pay your expenses?

10. Do you pay your bills on time?

11. Do you use at least three different outlets to comparison shop for major purchases?

12. Do you go shopping to release tension and/or as an escape from important issues?

13. Do you keep track of your tax forms?

14. Do you or your parents use a CPA to prepare your taxes?

15. Do you know what your federal tax bracket is?

16. Do you have credit card debt?

17. Do you pay your credit balance off completely before the due date to avoid interest charges?


18. Do you check your credit report annually?

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"Our students found Debt Free U to be a valuable resource. We're excited about our center’s collaborative efforts with Debt Free U aimed at strengthening the financial literacy skills of our students"
-Paul F. Goebel, Director of UNT's Student Money Management Center

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