Financial

  What’s Your Financial Survival Style? Find Out How Long You Could Last! Ever wonder how you’d fare in a financial storm? Answer these 8 questions to discover your survival style!   Question 1 of 8 A surprise, non-essential expense of $500 pops up. What’s your first thought? No problem, I’ll just pull it from my ‘Miscellaneous’ budget category. Okay, I can cover it from savings. I’ll need to remember to replenish that. Phew, that’s tight. I’ll have to juggle some bills or cut back on other things this week. Time to put it on the credit card and figure it out later. When you hear ’emergency fund,’ what comes to mind? A fully funded account with at least 6-12 months of living expenses, of course. A good goal. I’m actively saving towards having 3-6 months of expenses covered. That’s the few hundred bucks I keep in my savings for a flat tire, right? My credit card’s available limit. A friend invites you on a spontaneous, expensive weekend trip. You… Check my ‘Travel’ sinking fund. If the money’s there, I’m in! Tempting! I’ll review my budget to see if I can afford it without derailing my goals. Hesitate. It sounds fun, but I know it would stress my finances for the rest of the month. Say yes! I’ll make the money work somehow. YOLO! Next Question → How would you describe your approach to grocery shopping? I have a stockpile. I buy in bulk and could ‘shop my pantry’ for weeks. I meal plan for the week and shop with a detailed list to stick to my budget. I have a rough idea of what I need, but I’m often tempted by impulse buys. I pop into the store every day or two to grab whatever I feel like eating. Imagine your income suddenly doubled. What’s the FIRST thing you do with the extra money? Max out all retirement and investment accounts, then bulk up my emergency fund. Create a plan: half goes to accelerating goals, half goes to lifestyle upgrades. Finally breathe a sigh of relief and enjoy not stressing about bills for a bit. Book that dream vacation I’ve always talked about! You get a notification from your bank. What are you most likely to see? An alert that a large certificate of deposit (CD) is maturing. A notification that your automatic transfer to savings has successfully completed. A ‘low balance’ warning. A fraud alert because you’re swiping your card in a new, exciting location. Next Question → When it comes to your career, what’s your primary focus? Stability, a good pension, and a predictable path. I value security. Growth. I’m always looking for opportunities to gain new skills and increase my earning potential. Just getting the job done. It’s a paycheck that funds my life outside of work. Flexibility and passion. I might freelance or change jobs to find work that truly fulfills me. The phrase ‘pay yourself first’ means… It’s the iron law of my budget. Savings and investments are automated and non-negotiable. A great principle I try to stick to. I set aside money for savings right after I get paid. Whatever is left over at the end of the month is what I ‘pay myself’. Treating myself to something nice because I worked hard for my money! See My Result →   Your Result     Take Quiz Again