We all have our challenges, and a new year is the perfect time to set goals and meet expectations. So, what’s your biggest challenge in 2015? Take the quiz to find out.
1. When shopping for a new car, your first impulse is to:
a. Test-drive the fastest model on the lot.
b. Haggle over price before looking closely at the models.
c. Consult your budget to determine what you can afford before stepping foot on the lot.
d. Brush up on financing terms so you’ll be able to follow the conversation.
2. Your daughter is starting college in the fall. When it comes to paying the bill, you:
a. Apply for parental loans and encourage her to apply for student loans as well. You’ll pay off the balance eventually.
b. Are shocked by the cost of tuition, fees, room and board. You casually suggest community college in order to save money.
c. Aren’t sure if you can help her financially. Your budget is already stretched too thin.
d. Are unsure how to proceed. Scholarships? Federal loans? Private loans? You aren’t familiar with the basics.
3. A recent credit check reveals a 30-point drop in your score. You:
a. Assume late payments and a recent collection account are to blame.
b. Are horrified! How did this happen? It’s not fair!
c. Sigh and curse the crippling debt that is dragging your score down.
d. Have no idea why your credit score dropped. You aren’t really sure how scoring works or how your actions affect credit.
4. You won $1,000. You celebrate by:
a. Spending it on a weekend getaway or new gadget.
b. Asking close friends for advice about what to do with it. You’re worried about making the wrong decision.
c. Pay off one of many outstanding bills.
d. Researching what to do with a decent sum of money.
5. Your father recently died. When his credit card provider calls and demands you pay his remaining balance, you respond by:
a. Paying it. One less thing to worry about.
b. Falling apart with worry. You can’t afford to pay the debt and you’re afraid of the consequences.
c. Feel the strain of another bill. Your budget can’t take another burden.
d. Aren’t sure if you’re responsible for the debt.
6. A family reunion means you’ll be flying across the country. You’re most concerned about:
a. It’s time for vacation!
b. Getting to the airport on time, not losing your baggage, getting a good seat, not getting lost at the terminal…the list goes on.
c. The cost of airfare.
d. Wondering if you got the best deal on airfare and hotel accommodations.
7. When you hear the phrase, “financial planning,” you feel:
Mostly A’s: Money Management
You walk a fine line between credit strength and chaos. Whether you realize it or not, your money management style could use an overhaul. Consider revising your budget in 2015 and taking a hard look at your spending habits. What you discover could lead to positive change.
Mostly B’s: Stress
Stress rules your life, and often, your financial choices. You may not be a spendthrift, but you’re willing to make poor financial decisions if they seem easier or less worrisome than the alternative. This year, leave your emotions at the door and prioritize financial stability. Gaining control will help you feel confident.
Mostly C’s: Debt
Your financial responsibilities are overwhelming, and now is the perfect time to focus on debt reduction. Talk to us about proactive ways to change and begin living a debt-free lifestyle. Allow 2015 to be the year of options.
Mostly D’s: Education
You have the potential to become a credit repair superstar, but your knowledge isn’t quite up to par. Whether you’re new to consumer credit or simply need a refresher course, educate yourself this year by learning about credit basics and strategies to take control of your finances.