Financial Quiz That Will Trip You Up In Financial Freedom!

Financial knowledge quiz, give yourself a tally mark for every “Yes” to each checklist item

  1. I know the value of my home including the size of the mortgage and the amount of equity I have built.
  2. I know the length of the mortgage payment schedule and how much extra it could cost each month to pay down,the mortgage and half the time. I also know the interest rate we are paying on the mortgage and if it is competitive in todays market.
  3. I know how much life insurance I and my spouse. I know how much cash value there is in the policy and I know the rate of return my cash value is in earning.
  4. I know the details of all the insurance policies carried by myself and my spouse this includes Health disability term life.
  5. I have reviewed my life insurance policy in the last 12 to 24 months to see if the price I have pain or is still competitive in today’s Marketplace.
  6. If I own my own home I know what kind of homeowners coverage I have and what the deductibles are. If I rent I know the amount of renter’s insurance I have and what the deductible is in. Either case in the event of a fire or catastrophe I know whether my insurance will cover or reimburse me for the actual cash value of my property or the cost of replacing it at today’s current values.
  7. I have attempted to protect my family’s Nest lawsuits by carrying an umbrella insurance policy that includes liability coverage.
  8. I either prepare my own tax return this year or viewed my tax situation with the person who prepare my return.
  9. I know they location in amounts of my families invest in it cash and saving. Saving bonds, stocks real estate, Investments collectibles.
  10. I know the annualized return generated by each of the above investments.
  11. If I were my family owns a business I know the current valuation of the business including how much that it carries in the value of the liquid assets.
  12. I know the value location of performance of all my retirement accounts and Company pension plan.
  13. I know how much money I will be getting for Social Security and what my pension benefits will be.
  14. I know whether my income is protected if I become disabled.
  15. I have  disability insurance, in addition I know what the exact have coverage is when the benefits was start and whether benefits would be taxable.
  16. My family maintains a safety deposit box I know how to get access to it and I have reviewed it’s contents. Within the last 12 months if I have the key other families know where to find it if something happens to me.

SCORE YOUR YES:

How many items did you have a “yes “on?

  • 14 to 18 points- Excellent !  You have a strong grasp where your finance docs are and whats going on.
  • 9-13 points- You are not totally clueless in the dark, but you have some learning and discovery to do
  • Under 9 points- You are at high risk of getting financially hurt if something unforseen happens, you need to learn how to protect yourself from future financial disaster

If you scored well great but don’t celebrate just yet even among knowledgeable money managers it’s rare to find anyone male or female who has a handle on every single aspect of their own finances that they can secure themselves of a secure future so even if you scored High I guarantee you’ll discover more secrets and to continue learning on how to keep your money make more money and build your wealth.

if you did not score well that’s okay you know exactly what you need to take and learn to take charge of your financial health and invest wisely for your family’s future security

I hope this quiz inspires you and motivates you to take control of your financial future by getting educated about your money

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