Good day, all!

I recently found this fun little financial assessment quiz over at Budgets Are Sexy. It only takes a couple of minutes to complete – all you have to do is answer each question with Always, Sometimes or Never.

For all you financial voyeurs out there, here are my answers!

The “2-Minute Financial Assessment”

 #1. I pay my bills on time.

Always! Most of our bills are set up to be paid automatically. The rest are paid on time, or early.

 #2. I save 10% or more of my income each month.

Always! I’m one of the lucky few who have a workplace pension, so this is done automatically for me. I have around 9-11% of my pay deducted automatically and my employer matches that, so I’m actually saving about 20% of my income through this pension. Aside from that, I also save another 10-15% of my income in our kids’ RESP plan, and once that’s maxed out, in my TFSA or RRSP.

 #3. I keep three months net income in a “rainy-day fund.”

Never. I’ve had emergency funds over the years, but never that much. My EF got as high as $10,000 last summer, but currently sits at a whopping $73! Ouch.

 #4. I plan ahead and save for large expenses.

Never. I think about saving for upcoming big-ticket items (trip to Scotland in 2021, truck replacement sometime in next 5 years, new living room furniture, etc), but I never get around to actually doing it.

 #5. I set and keep financial goals for myself on a regular basis.

Always. Well, I didn’t always in the past, but since starting a while back, I discovered that I’m a total financial goal nerd. So now – and for forevermore – I set at least 5 per year and track my progress on these monthly.

 #6. I follow a set budget each month.

NEVER, and I likely never will. However, I ALWAYS track every penny that we spend and take in, so I feel extremely comfortable with my awareness of our finances and where money is being spent. In all honestly, I feel so strongly that tracking is just as, if not more, beneficial than budgeting, that I’m giving myself full points on this question (that’s the beauty of having my own blog – I can make up the rules as I go!).

 #7. I shop around and compare prices before making a major purchase.

Always. Well, I don’t but my husband does. And I try to do this as well for service providers (cell phone, satellite, insurance, etc).

#8. I regularly check my credit report.

Sometimes. Actually, to be perfectly honest, I’d only done this once before, back in 2016, until I started writing this post. Then, I did it a second time. Twice counts as ‘sometimes’, right? There are two national credit bureaus in Canada: Equifax Canada and TransUnion Canada. Tread very carefully on these websites – although you’re entitled to a free credit report, the links to those reports are notoriously hard to find because the credit bureaus are eager to sell you instant access to your report and credit score online instead (watch for – and avoid – any links that refer to monthly credit monitoring fees). Equifax refers to your free credit report as “credit file disclosure” and TransUnion refers to it as a “consumer disclosure” – the links above should bring you as close to those free requests as possible. After a bit of digging around, I was able to get my free online consumer disclosure from TransUnion in a matter of minutes. Here are 10 reasons why you should check your credit report regularly and some info on how to read your credit report

 #9. I examine my checking account statements each month.

Always. I check them nearly daily, along with credit card statements, investment account balances, pension values, net worth reports, etc. If anything, I need to check these things less, but what can I say – if something wonky happens with our money, I want to know asap.

 #10. I look for ways to become more financially aware and educated on a regular basis.

Always. I enjoy reading personal finance books, and I follow several PF blogs. There’s always something new and interesting to learn!

 That’s it!

 Answer key:

2 points for every “Always”, 1 point for every “Sometimes”, 0 points for each “Never”

  •  15 points and up = Warren Buffett (self-explanatory)!
  • 10 to 14 points = MC Hammer (why? I have no idea… I didn’t make this up!)
  • 9 or less points = Macaulay Culkin (again, I’m clueless)

 Looks like I got 15 points (including my ‘cheat’ on Q6), just squeaking into Warren Buffet territory (phew… just maintained my financial cred by a whisker!)!

 What about you? How’d you do?!

 LS