Financial Health Quiz
Questions: 15 · 10 minutes
1. How are your major financial goals, such as education, housing, retirement, or a large purchase, currently defined?
I have general goals but have not attached amounts or dates to most of them.
At least one priority goal has a target amount, timeline, and tracked progress.
I mostly respond to financial needs as they arise rather than setting longer-term targets.
I have estimated amounts or timelines for some goals, but progress is reviewed irregularly.
2. How clearly can you describe your current debts?
I know the lenders and approximate balances but not most rates or payoff details.
I maintain current balances, rates, minimums, and due dates, or I have no outstanding debt.
I can identify most balances and payment amounts, though some terms would require checking.
I would need to gather statements before I could list several of the debts or amounts.
3. You receive an unexpected $500 while carrying several credit balances. Which choice most resembles your usual decision process?
Keep it available for routine spending while continuing only the required minimum payments.
Split it between a cash cushion and debt reduction based on near-term obligations.
Put it toward the smallest balance first because a quick payoff would help motivation.
Protect cash needed for upcoming bills, then direct the remainder to the costliest debt; if debt-free, add it to reserves.
4. Suppose your income fell by 20% for two months. How prepared would you be to adjust?
I could reduce optional spending, but the lower income would use most of my normal flexibility.
I am not currently sure which expenses could change or how I would cover the gap.
I would probably borrow or use credit and work out repayment once income recovered.
I already know which expenses I would adjust and have reserves for the remaining gap.
5. Which statement best describes your debt or credit payments over the past 12 months?
I had one late payment or close call but corrected it quickly.
I am currently behind, in default, or dealing with collection activity.
I had several close calls or one late payment that remained unresolved for a while.
I had no required debt payments, or every required payment was made on time.
6. When your income, dependents, housing, or other responsibilities change, what usually happens with your financial protection arrangements?
I review relevant insurance, beneficiaries, emergency contacts, or essential documents and update gaps.
I usually keep existing arrangements unless a provider or another person prompts a review.
I review them after major changes, although smaller changes may not trigger action.
I am not currently clear about what coverage or arrangements I have in place.
7. You are considering a large purchase that would use much of your available cash. What most influences your decision?
Whether the monthly payment or immediate price looks affordable right now.
Whether available credit or cash is sufficient to complete the purchase.
The total cost, effect on reserves and goals, and whether waiting would improve the tradeoff.
A mix of immediate affordability and a plan to rebuild some of the money afterward.
8. During the last three months, what usually happened just before your next income arrived?
I sometimes ran short and had to postpone a purchase or payment.
I generally had a modest buffer after planned spending and saving.
I usually reached close to zero but covered required expenses.
I maintained a buffer large enough that ordinary timing changes caused little disruption.
9. Which description best matches how you handle recurring bills?
I use a consistent manual routine and am rarely surprised by a due date.
I mainly act when reminders arrive and sometimes have to reshuffle other spending.
I have a calendar or automated system plus enough account buffer for expected payments.
I check due dates as they approach, although timing occasionally catches me off guard.
10. If all household income stopped today, approximately how long could available cash cover essential expenses without borrowing?
About one to four weeks.
Three months or longer.
Less than one week.
About one to two months.
11. After accounting for new charges and payments, what has happened to your total non-mortgage debt during the past year?
It has generally fallen according to a repayment plan, or remained at zero.
It has risen because ordinary expenses often exceed available cash.
It has stayed around the same, with payments roughly offsetting new borrowing.
It has fallen overall, although progress has been uneven or unplanned.
12. Over the past six months, how often have you used credit or borrowing for groceries, utilities, or other routine essentials because cash was unavailable?
Occasionally, during one or two tight periods.
Never, or only when I chose credit despite having cash available to repay it.
Most months or continuously.
Rarely, and the amount was repaid without carrying it into several later months.
13. Which statement best describes saving or investing for needs more than a year away?
I contribute regularly at a level connected to a target or reviewed plan.
I contribute occasionally when a month leaves extra money.
I am not currently setting aside money for needs beyond the next year.
I contribute regularly, although the amount is not clearly tied to a target.
14. How do you review progress toward longer-term financial goals?
I review on a planned schedule and adjust contributions, targets, or timelines when needed.
I check a few times a year, usually when making another financial decision.
I look mainly when a concern or major expense brings the goal to mind.
I review roughly once a year or less, without routinely changing the plan.
15. A necessary home or vehicle repair costs about one week of your take-home pay. Which response is closest to what you could realistically do?
Pay from money set aside for unexpected costs, then rebuild that fund without missing regular commitments.
Use credit or a payment plan, with a general expectation that later income will cover it.
Use available cash and temporarily reduce optional spending while keeping required bills current.
Delay the repair or shift an essential bill because I have no workable source of funds right now.