Debt Awareness Quiz by admin | Aug 28, 2023 | 0 comments Welcome to the 'Debt Quiz' Discover your financial expertise and gain insights into your money management skills. Let's dive in and see how well you know your finances! Name Email Phone 1. Do you know your total tax paid per year? Yes, I'm well aware of my annual tax contribution. I have a rough idea, but not exact figures. No, I'm not sure about my total tax payments. None 2. Do you know what your net cash position is per year after taxes? Yes, I have a clear understanding of my annual net cash position. I have a general idea, but it could be more precise. No, I'm uncertain about my annual net cash position. None 3. Do you know the total cost of your utilities per month, including electricity, gas, phone, internet, and fuel? Yes, I track my monthly utility expenses diligently. I have an estimate, but it's not exact. No, I'm not sure about my total monthly utility costs. None 4. Do you know the total cost of all your hard costs per year? (Hard costs are essential living expenses, including utilities) Yes, I have a comprehensive breakdown of my annual hard costs. I have a rough idea, but I could do a more detailed analysis. No, I don't have a clear understanding of my annual hard costs. None 5. Do you put money aside from each pay packet? Yes, I have a structured savings plan in place. I save occasionally, but not consistently. No, I don't currently save from my paychecks. None 6. Do you know how much more you could save each year if you reduced non-essential spending? Yes, I've identified areas where I can cut non-essential expenses. I have some ideas but haven't calculated the potential savings. No, I haven't looked into reducing non-essential spending. None 7. Do you know how much you pay in interest monthly for consumer debt (credit cards, personal loans, car loans, HEC debt)? Yes, I'm well aware of my monthly interest payments. I have a rough estimate, but it could be more precise. No, I don't know my monthly interest payments. None 8. Do you have a budget, and do you know how you can increase your cash flow? Yes, I have a budget and regularly review it to optimise cash flow. I have a budget but could use some guidance on improving cash flow. No, I don't currently have a budget or know how to increase cash flow. None 9. Do you have a strategy to pay off your mortgage faster, other than working harder? Yes, I have a well-thought-out plan to accelerate my mortgage payments. I have some ideas, but they could be more structured. No, I haven't considered a strategy for paying off my mortgage faster. None 10. Do you know the difference between good debt and bad debt? do you have a strategy to dissolve your bad debt and become debt free? Yes, I understand the distinction between good and bad debt and manage my debt accordingly. I have a general idea, but I could benefit from further clarification. No, I'm not familiar with the concept of good and bad debt. None Time's up Submit a Comment Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment.
