Most of us are mired in the day-to-day management of our personal finances, and between paying down debt, saving for emergencies, getting enough insurance and investing properly, it’s hard sometimes to see the big picture. CNN Money’s quiz can help.
The tool first asks for age and gross annual income, then for each of seven main financial topics, one or two related questions so it can check the ratios and rules of thumb. For example, enter how much you spend for your monthly housing payment and it will warn you if your payments exceed 28 per cent of our gross income.
Some or even most of these guidelines you likely already know, such as saving 3-6 months for emergencies, but having them all in one place in an easy-to-use tool is great. At the end you’ll get a financial health grade and may perhaps better gauge where you’re doing well and which areas you need to work on improving.
How healthy are your finances? [CNN Money]