Test Your Financial Freedom

Developed by: Stella

Are you in control of your money--or does money control you? Take our quiz to see just how financially free (or fettered) you really are...

Question 1: What's your debt level?

	Typical household debt: home mortgage, maybe car and/or student loan
	I have no debt whatsoever!
	Just a student or car loan
	Thousands of dollars in credit card balances, mortgage, car and/or student loans.

Question 2: What's your savings status?

	I have at least a six month emergency fund, 401k, IRAs, etc.
	I pretty much live paycheck to paycheck
	I have a modest cushion of savings for emergencies.
	I have at least a 3 month emergency fund plus some retirement investments

Question 3: What's your spending style?

	If I have it, I'll spend it.
	I plan my purchases and look for the best deals always.
	I pay myself first and rarely indulge in material "stuff."
	I occasionally splurge, but mostly live within my means.

Question 4: Do you have a budget?

	I have a basic idea of what I'm spending money on, but nothing formally established.
	What's a budget?
	I have a budget and mostly try to stay within it.
	I have a multi-year plan which I analyze weekly using tools like Mint.com, Quicken, etc.

Question 5: What's your credit score?

	It can't be good...
	600-750
	Under 600
	Over 750, baby!

Question 6: If you won the lottery, what would you do with the money?

	Pay off mortgage and all debts and then indulge in a few luxuries
	Buy a new house, new car, travel the world
	Invest it wisely in solid stocks and other low-risk funds
	I'd never waste money playing the lottery

Question 7: How do you go about financing big ticket purchases?

	Home equity loan
	Eh--I don't want it or need it.
	Save up and pay in cash
	Max out the credit cards!

Question 8: Which possessions do you consider most valuable?

	My investments and savings
	My intelligence, integrity and reputation
	My home, my car, my jewelry
	My Rolex, Maserati and Louis Vuitton luggage set

Question 9: What's your biggest financial goal?

	To be debt-free in the next five years
	To accumulate enough wealth for complete financial independence in five years
	To build up my retirement savings
	To pay off mortgage in the next ten years

Question 10: If you lost your job tomorrow..

	I have alternate streams and sources of income, so I don't even need to touch my savings
	By drastic economizing, I could manage for a couple months
	I'd have to file for bankruptcy
	I could coast for at least six months on my savings

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