Shape Your Financial Future
Answer seven yes or no questions and
get a snapshot of your spending styles
Answer seven yes or no "I always" questions and
get a snapshot of your spending style.
1) Always set aside at least ten percent of income for savings and
investing using the payroll deduction method.
___Yes ____No ___Sometimes I manage to put some money aside.
2) Always contribute maximum amount to employer sponsored pension
plans in order to get the maximum contribution from employer every
___Yes ____No ___Contribute some, but not sure if my employer even
3) Always use manufacturer's and retailer's coupons when possible
and send in for rebates.
___Yes ____No ___Use only instant rebates and coupons, otherwise
no time to clip them out.
4) Always look over sale flyers and comparison shop before I
spend, especially for food.
___Yes ___No ____Occasionally I stop in at a place and I will get
the money saving special.
5) Always comparison shop motor vehicle and household insurance
policies when they come up for renewal.
___Yes ___No ____Policies automatically renew, never thought to
6) Always pay credit and charge card purchases in full when the
statement arrives and never pay interest charges or penalty fees
of any type.
___Yes ____No ___Sometimes I take up to two, three, six or 12
months to pay off purchases, but never calculated the extra costs.
7) Always keep banking and other receipts, even for smaller
purchases, and note on them the details.
___Yes ____No ___My important receipts are on my credit card
bills, otherwise, unless I will get reimbursed for the expense by
somebody else, I pitch everything else.
Scoring: 100% = 7 yes answers
7 Yes: A wise spender you are and a spender mentor
you should become.
6 Yes: You are right up there with the minority, however, how much
would the money you could save, in the question you answered no
to, be worth in 12 months if you invested it?
5 Yes: Getting close, but no big savings payoff yet because you
may still be missing out in the areas of the questions you
answered no. If you want your assets to grow, look for saving in
every area of your spending.
4 Yes: You are past the half way mark, however, if you do what you
have always done, you will always get what you have now. Time to
change some spending habits if you want to see a brighter
financial future. If credit cards are your bane, try something
that will remind you about the dangers of spend, spend, spend,
credit card warning labels and
protection sleeves with anti spend messages for your credit /
3 Yes: Get off the money-merry-go-round! You are probably living
from paycheck to paycheck or earning upwards to $100,000 a year
and have little or nothing to show for it. Poor spending Practices
must be doing you in. If you need a quick shot in the wallet, the
average household spends 30 cents of every take home dollar on
household and grocery items. You can make a big impact there the
next time you go to the grocery store.
2 Yes: When it comes to saving money, you must stop at nothing.
Kick it up a few notches, you will be amazed at the results. You
have an obligation to be as good to the person you are going to be
in 20, 30 or 40 years as you are to yourself today. Start saving
and spending with your future in mind.
0-1 Yes: What is that smell? Smoke from your credit cards being
overused? Put them in a glass of water and freeze them solid. If
you aren't in credit counseling or bankruptcy court, both could be
right around the corner. Outside intervention is what you need
now. And start looking for a spender mentor, quick.