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FINANCIAL MANAGEMENT SELF AWARENESS SURVEY FOR INDIVIDUALS OR COUPLES

How well you manage your finances is a strong indicator as to how well you will survive a financial crisis such as an extended illness, loss of job, or death of an income producing family member. Take this Financial Management Self-Awareness Survey to rate your ability to weather a financial crisis. (You can also download this survey in a word document by clicking here.) Use the scale that follows to rate each of the statements below. Then total the ratings to arrive at your financial crisis readiness score for each section. Call us at 410-937-2323 or e-mail survey@hfs-associates.com to obtain your scores and find out what they mean for you.

4=Always 3=Often 2=Sometimes 1=Rarely 0=Never

Debt Management          
I avoid paying late fees on credit cards. 4 3 2 1 0
I avoid paying interest on credit cards. 4 3 2 1 0
I pay more than the minimum payment on credit cards. 4 3 2 1 0
My monthly debt payments, except mortgage, do not exceed 20% of my net income. 4 3 2 1 0
It would take me less than a year to pay off all debt except my mortgage. ("Yes" = 4 rating; "No" = 0 rating) 4 3 2 1 0
Debt Management Score: ______

Spending Plan          
I avoid paying overdraft fees on my checking account. 4 3 2 1 0
I avoid using a credit card for daily expenses to make it until payday. 4 3 2 1 0
I avoid paying monthly bills to pay occasional bills (example: pay the rent/mortgage or credit card bill late so that the car insurance can be paid) 4 3 2 1 0
I manage my finances according to a written spending plan. 4 3 2 1 0
I avoid using savings to pay occasional and monthly expenses. 4 3 2 1 0
Spending Plan Score: ______

Savings          
My goals for short, mid and long-term savings are written down. 4 3 2 1 0
My emergency fund equals at least 3 months expenses. 4 3 2 1 0
I set aside at least 10% of my income for savings. 4 3 2 1 0
I contribute to my employer's retirement plan or an IRA. 4 3 2 1 0
I could go without (choose a number 0-4) paychecks before I could not pay a bill that was due. 4 3 2 1 0
Savings Score: ______

 

 

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