Suffering from Affluenza?
Answer the following questions to see how you are doing with your personal finances
- Do you have a written budget where you consciously and specifically allocate each dollar of income to spending, saving and investing before the month begins?
- Do you save money for irregular, annual, bi-annual or quarterly expenses like car repairs, gifts or insurance?
- Do you have medical insurance, short-term disability and long-term disability insurance and life insurance?
- Do you have an emergency fund equal to three to six months of your living expenses?
- Are you spending less than 35 percent of your take home pay on housing (rent, mortgage, property taxes, HOA fees)?
- Do you only pay for purchases with cash or debit cards?
- Are you investing 15 percent of your take home pay for the purpose of achieving financial independence?
- Are you saving for your children’s college fund at a rate that will allow them to attend a four-year institution without taking on student loans?
- Are you paying on your mortgage at a rate that will allow you to pay it off in 15 or fewer years?
- Do you work at your job because it is your passion?
- Has it been more than three months since have you worried about money?
- Do you have a dream toward which you are moving consciously and deliberately? If you have a partner, is it a shared dream?
If you answered “no” to one or more of these questions, you would benefit from some effective personal finance planning or coaching.
