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Take our Personal Finance quiz

Improving your financial fitness doesn't have to be complicated and boring. This quiz is for people who tuneout when the talk turns to income taxes and asset allocation as well as those who relish the challenge of tracking their investments. Here's your chance to rate yourself on 10 key points of financial fitness.

By Helen Huntley, Times Personal Finance Editor
Published January 20, 2008

Improving your financial fitness doesn't have to be complicated and boring. This quiz is for people who tuneout when the talk turns to income taxes and asset allocation as well as those who relish the challenge of tracking their investments. Here's your chance to rate yourself on 10 key points of financial fitness.  

1. Credit cards

A. I pay my credit cards in full every month.

B. I'm paying off my balances.

C. I make only the minimum payment.

2. Bill paying

A. I always pay my bills on time.

B. I sometimes get hit with late fees.

C. Bill collectors have me on speed dial.

3. Savings

A. I save 10 percent or more of my income.

B. I save what I can.

C. I spend more than I make.

4. Retirement planning

A. I have calculated how much I need to save for retirement.

B. I have read some articles about saving for retirement.

C. My retirement plan is to win the lottery.

5. Credit reports

A. I check my credit report at least once a year.

B. I don't check but know my credit is great.

C. I'm afraid to check.

6. Grocery shopping

A. I go in with a list and a budget.

B. I buy whatever I feel like.

C. Groceries? I eat out every meal.

7. Major purchases

A. I do research, comparison shop and save the money in advance.

B. I make sure I really need it and pay off the bill within a few months.

C. I charge it and hope for a miracle.

8. Emergencies

In an emergency:

A. I have enough money to cover at least three months' of living expenses stashed in a high-yielding account.

B. I keep a big balance in checking.

C. I plan to move back in with my parents.

9. Debt load

My monthly payments for mortgage, car loan, student loan, credit cards and any installment debt:

A. Are less than 33 percent of my monthly gross income.

B. Are less than 40 percent of my monthly gross income.

C. Are outrageous.

10. Home equity

A. My home equity is at least 50 percent of my home's value.

B. My home equity is at least 20 percent of my home's value.

C. What home equity?

Scoring

Give yourself 10 points for each A answer, 5 points to each B answer, 0 for each C answer.

80-100 points: You're doing great. Pat yourself on the back.

50-79 points: You're getting there. Aim for the next level.

0-49 points: Your finances need serious help. Time for a turnaround.

[Last modified January 18, 2008, 22:47:15]