Financial Wellbeing

Fnancial Wellbeing

Charles Dickens  Famous English writer of  books like Oliver Twist, Great Expectation, David Copperfield and many more books. Quotes from his book David Copperfield “My advice is, never do tomorrow what you can do today. Procrastination is the thief of time. Collar him!”

It is so true we keep delaying things for tomorrow and tomorrow never comes, It specially applies to our Financial decisions like investments. When It comes to spending money for our wants we never think twice but when it comes to Investments for the future we keep procrastinating it till it becomes NEED and then we end up taking personal loan or debt from some friend or relative. We always have that opportunity to save  for rainy day like ants save for themselves, small amount which does not pinch our pockets and we  do not need to alter the life style.

SIP is the word which one should get well connected and well verse with. SYSTEMATIC INVESTMENT PLAN (SIP) by which you can save small amount for each and every financial goals and It starts paying immediately.

But then argument will be ” My expenses are as such that at the end of the month My bank accounts becomes almost empty.

WHY?

Answer is simple   Like other things we get or buy which has Instruction as how to use it?

Money does not come with an instruction on it How to spent it, where to spend it and when to spend it.

It is we who  must learn the skill of managing money or spending it in right way on right thing.

Like we learn to drive or play an instrument.same way we must learn most important skill of life, Managing Money.

While growing up some of us are fortunate enough to observe and learn this skill from our elders   and some are unfortunate who at the end of the day feels miserable ,guilt, frustrated , angry and disappointed for not spending or managing money right way and we envy those who knows exactly what money is and their relationship with money is very strong and Perfect.

Before you read any further, take a quick look at your current  money management skill    level.Answer the following questions truthfully, based on what  you do today. You do not  need to share your answers with  anyone – they are merely to help you identify how you  may want to improve your own money management skills.

 

ARE YOU MANAGING YOUR MONEY EFFICIENTLY

Time limit: 0

Quiz-summary

0 of 10 questions completed

Questions:

1. 1
2. 2
3. 3
4. 4
5. 5
6. 6
7. 7
8. 8
9. 9
10. 10

Information

Please answer the following as truthfully as possible
according to your present financial practices and circle
the most accurate answer.

Name*	You must specify a text.
Email ID*	You must specify an email address.
Mobile No*	You must specify a number.

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading...

You must sign in or sign up to start the quiz.

You have to finish following quiz, to start this quiz:

Results

0 of 10 questions answered correctly

Time has elapsed

You have reached 0 of 0 points, (0)

Average score
Your score

Categories

1. Not categorized 0%

• Check your points and see where you stand.

  HOW DID YOU SCORE?
  15 – 20 points suggests you are practicing good money
  management skills.
  10 – 15 points suggests that you are making an effort toward
  improving your money management skills.
  0 – 10 points suggests that you need to improve your money
  management skills.

1. 1
2. 2
3. 3
4. 4
5. 5
6. 6
7. 7
8. 8
9. 9
10. 10

1. Answered
2. Review

1. Question 1 of 10

   1. Question

   2 points

   I pay the rent / mortgage/EMI housing loan
   payment and utility bills on time

   • NEVER
   • Sometimes
   • ALWAYS
2. Question 2 of 10

   2. Question

   2 points

   I save 10% of my net income.

   • NEVER
   • SOMETIMES
   • ALWAYS
3. Question 3 of 10

   3. Question

   2 points

   I try to keep 3 months
   of my net income in reserve
   for emergencies

   • NEVER
   • SOMETIMES
   • ALWAYS
4. Question 4 of 10

   4. Question

   2 points

   I plan ahead for large expenses
   such as taxes and insurance.

   • NEVER
   • SOMETIMES
   • ALWAYS
5. Question 5 of 10

   5. Question

   2 points

   I set goals and keep a budget
   for my net income.

   • NEVER
   • SOMETIMES
   • ALWAYS
6. Question 6 of 10

   6. Question

   2 points

   I spend no more than 20% of my
   net income for credit payments,
   excluding my mortgage payment.

   • NEVER
   • SOMETIMES
   • ALWAYS
7. Question 7 of 10

   7. Question

   2 points

   I  compare price  of goods  to be shop before I
   purchase goods and services.

   • NEVER
   • SOMETIMES
   • ALWAYS
8. Question 8 of 10

   8. Question

   2 points

   I use credit only for expensive
   purchases or when I have
   the money in the bank to cover
   the charge.

   • NEVER
   • SOMETIMES
   • ALWAYS
9. Question 9 of 10

   9. Question

   2 points

   I balance my cheque book
   every month.

   • NEVER
   • SOMETIMES
   • ALWAYS
10. Question 10 of 10

    10. Question

    2 points

    I keep myself financially updated
    by reading consumer and
    financially related articles.

    • NEVER
    • SOMETIMES
    • ALWAYS