Make 2012 better financially

I am in no way an expert on personal finances, but considering that my husband and I are pretty good with money, why not offer a bit of advice! Don’t worry, this isn’t actually my advice. I had The Marilyn Denis show on today while sitting and playing Batman with my son. They did a little financial quiz. Ten simple questions, and the more “yes” answers you had, the better you were with your money. Here are the questions (and the link to the quiz):

  • Do you pay your bills in full and on time?
  • Do you plan ahead for major purchases?
  • Are you setting financial goals for yourself?
  • Do you know your financial situation (both debt and savings)?
  • Do you follow a realistic budget?
  • Do you live within your means and are not living pay cheque to pay cheque?
  • Do you have three to six months worth of your salary in a savings account?
  • Do you know the difference between “need” and “want”?
  • Do you use credit wisely?
  • Have you ever kept a record of your daily spending?
I answered yes to every single one of these questions, can you? Take a look at the ones you answered no to, how can you change that to a yes?
Another thing the guest mentioned was not to use the word “budget”. It can have a negative connotation, and make you feel trapped and not able to spend money. Instead, she suggested calling it a “spending plan”. I love this! I never minded saying we are on a budget, but a spending plan is an even better way to put it!

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