Financial Fitness Quiz

Want to improve your personal finances? Start by taking this quiz to get an idea of how well you've managed your money so far. Choose the score that best describes your current financial management practices.

When you're done, click on the "View Results" button to see how you're doing.

Note: By taking this quiz you will be contributing to a study on financial fitness. Your results will be recorded anonymously. We are not collecting any identifying information.

- Research Results (122k PDF)

Financial Management

1.

I have a bank checking account (or credit union share draft account) with which to pay bills.

2.

I have enough money each month to pay my rent or mortgage payment and other household expenses.

3.

I have enough money to pay for an emergency, such as a large car repair.

4.

I have written financial goals with a date and dollar cost (e.g., $10,000 for a car in 2008).

5.

I have a written plan (budget) for spending and/or saving my money.

6.

I keep organized financial records and can find important documents easily.

7.

I know my federal marginal tax bracket (e.g., 15%).

8.

I calculate my net worth (assets minus debts) annually.

Saving and Investing

9.

I save regularly for long-term financial goals, such as education for my children, a house, or retirement.

10.

I have at least three months' expenses set aside in a readily accessible account (e.g., money market mutual fund).

11.

I increase my savings when I receive a salary increase.

12.

I have a personal investment account for retirement (e.g., 401(k), 403(b), IRA) other than a pension funded by my employer).

13.

I have money spread across more than one type of investment (e.g., stocks, bonds, mutual funds, CDs).

14.

The average after-tax yield of my savings and investments over the long term is greater than the rate of inflation.

Insurance and Estate Planning

15.

I have adequate insurance to cover "big" unexpected expenses, such as a hospital bill, disability, or liability for damages to others.

16.

I have a current will.

Credit

17.

Less than 20 percent of my monthly take-home pay goes to my credit cards, student loans, and car payments.

18.

I pay credit card bills in full to avoid interest charges. (If you don't use credit cards, select 'Always'.)

Shopping

19.

I comparison shop for major purchases by checking at least three sources.

20.

I avoid impulse purchases and don't use shopping as a form of recreation.

Demographic Data

21.

22.

23.

24.

25.

26.

27.

(leave this field blank)

  1. Rutgers
  2. Executive Dean of Agriculture and Natural Resources
  3. School of Environmental and Biological Sciences