Financial Literacy Month, observed every April since 2003, encourages people to take more control of their personal finances. CO-OP Financial Services is dedicated to providing financial technology for credit unions and their members, with the goal of making people’s financial lives more convenient and secure.
The personal finance assessment below is meant to be a non-scientific, jump-start to financial literacy. Have fun and take control!
We Get It: Now Take the Test
We get it: finances can be a scary thing, especially if you are looking at your own bottom-line. If you are one of these people, we are making it easy to get your feet wet and better understand your current financial habits and overall financial health.
Answer the questions below and get a baseline financial assessment
- I pay my bills on time.
- Always
- Sometimes
- Never
- I save 10% or more of my income each month.
- Always
- Sometimes
- Never
- I keep three months’ net income in a “rainy-day fund.”
- Always
- Sometimes
- Never
- I plan ahead and save for large expenses.
- Always
- Sometimes
- Never
- I set and keep financial goals for myself on a regular basis.
- Always
- Sometimes
- Never
- I follow a set budget each month.
- Always
- Sometimes
- Never
- I shop around and compare prices before making a major purchase.
- Always
- Sometimes
- Never
- I regularly check my credit report.
- Always
- Sometimes
- Never
- I examine my checking account statements each month.
- Always
- Sometimes
- Never
- I look for ways to become more financially aware and educated on a regular basis.
- Always
- Sometimes
- Never
Now that you’ve taken the test, let’s add things up.
Each answer is worth the following:
A – 2
B – 1
C – 0
Add it up and let’s see who you are “channeling.”
15-20
Are You Warren Buffett!?
Even if you re by some chance you are indeed Warren Buffett, it doesn’t hurt to occasionally assess your financial habits and make sure your monetary ducks are in a row. Keep up the good work!
10-14
Are you MC Hammer?
You might be on the rise again and getting back to Hammer Time. Let’s make sure you stay on track and avoid potential stumbles and setbacks.
0-9
Are you Macaulay Culkin?
You have no idea what has happened since the 1990s, which might be the last time you checked your credit score. Moving on is definitely frightening, but in an age of technology, there are some great resources that can help your financial enlightenment.
Where are these resources? They can help you if you are a Warren Buffet, MC Hammer and Macaulay Culkin. Visit CO-OP Credit Unions here: https://co-opcreditunions.org/.
