The older you get, the more complicated it seems that your finances become. If you're feeling overwhelmed, take it one step at a time by answering these ten questions about your finances.
Personal finance site How Do I Money explains that, for most of us, our finances aren't as overwhelming as they seem as long as you cover the basics. To get your financial life in order, ask yourself the following ten questions:
- What is 2 + 2? (That's a warm up question.)
- How much money do you have?
- How much do you earn each month?
- How much debt do you have?
- How much money do you spend each month?
- How much do you spend each month on debt payments only?
- How much money are you saving each month?
- How much is in your emergency fund?
- What is your net worth?
- What's your plan?
- Bonus question to make up for question #1: How many months until you are debt free?
If you've already got a budget and financial plan in place, you can probably answer most of these without even checking anything (personally, I could pull off eight out of ten without logging into an account). If you don't know the answers, then work on each question one at a time. They may not be the most comfortable questions to answer, but each one is a bite-sized piece of your financial life that you could knock out in a few hours at most.
Can you answer the ten easiest money questions ever? [How Do I Money via Rockstar Finance] Photo by 401(k) Calculator.