Financial Assessment Questionnaire – Carreira Finance


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Answer this financial assessment questionnaire truthfully and reflect on your current financial situation.

Don’t lie to yourself! Only if you Only you can see the results of your answers.

There are a total of 34 questions with 8 categories:

  • Debt
  • Budgeting
  • Savings
  • Credit score
  • Retirement
  • Investing
  • Tax
  • Others

Financial Assessment Questionnaire

Debt Assessment Questions

1. How much debt do you carry?

  • $0 (Excellent!)
  • < $1,000 (Pay it off at the end of the month)
  • $1,000 to $9,999 (Pay it off within 6 months)
  • $10,000 to $49,999 (Pay it off within 2 years)
  • > $50,000 (Pay it off within 3 years)

2. What type of debt do you carry?

  • No debt (Excellent!)
  • Mortgage (Don’t miss any mortgage payments)
  • Student Loan (Can your employer help you pay it off?)
  • Auto Loan (Pay it down to $60 and then pay $1 per month)
  • Personal Loan (Have a strategy to pay it off quickly)
  • Credit Card Debt (Pay it off as soon as possible)
  • Payday Loan (Pay it off as soon as possible)

3. How do you use your credit card?

  • As a debit card (Excellent!)
  • Pay in full when it is due (Improve your credit score by paying it off every week)
  • Like an emergency fund (Create an emergency fund to not use your credit card)
  • Pay the minimum monthly payment (Pay it off as soon as possible)

4. What is your debt-to-income ratio? (= debt / income)

  • 0% to 10% (Excellent)
  • 10% to 30% (I hope that you have a mortgage)
  • 30 to $43% (That’s risky, don’t forget to pay off your personal debt)
  • +43% (You have to pay off your personal debt)

5. Do you have a plan to get out of debt?

  • I’m debt-free (Excellent!)
  • Yes (Make sure it is within the timeline from question #1)
  • No (Time to create a financial plan to get out of it)

Budgeting Assessment Questions

1. Do you track your expenses?

  • Yes (Excellent!)
  • No (Time to track it regularly)

2. Do you have a budget?

  • Yes (Excellent!)
  • No (Time to create one)

3. How often do you review your budget?

  • Weekly (What is preventing you to review it monthly?)
  • Monthly (Excellent!)
  • Quarterly (Unless you have an amazing system in place, it might not be enough)
  • Yearly (It might be hard to make changes)
  • I don’t (Time to be better at it)

4. How do you budget?

  • App (Don’t forget to look at it)
  • Spreadsheet (Don’t forget to update it)
  • Paper & Pen (Don’t forget to update it)
  • In my head (You must be a mathematician)
  • I don’t (Time to help yourself by using a template)

5. Do you divide your expenses into the needs and the wants categories?

6. How many budget categories do you have?

  • 1 to 9
  • 10 to 19
  • 20 to 29
  • 30+
  • I don’t have any

Savings Assessment Questions

1.  Do you automate your savings?

  • Yes (Excellent!)
  • No (Time to save some time)

2. Do you have an emergency fund?

  • Yes (Excellent!)
  • No (It is really important to have one)

3. How many months do you have in your emergency fund?

  • 6+ months (That’s where you want to be if you have kids)
  • 3 to 6 months (That’s where you want to be)
  • 1 to 2 months (You are on the right track)
  • 0 months (It’s never to late to start)

4. How much is your savings rate? (= savings / income)

  • < 10%
  • 10% to 19%
  • 20% to 29%
  • 30% to 39%
  • > 40%
  • No idea

Credit Score Assessment Questions

1. What is your credit score?

  • < 580
  • 580 to 639
  • 640 to 699
  • 700 to 749
  • 750+
  • No idea

2. What is your credit utilization ratio?

  • 0%
  • 1% to 9%
  • 10% to 19%
  • 20% to 29%
  • > 30%
  • No idea

3. Do you know what the Fair Credit Reporting Act is?

Retirement Assessment Questions

1. Do you have a tax-advantageous retirement plan? (401k, IRA, etc…)

2. Do you max out your retirement plan contributions?

3. Do you know how much your household needs to retire?

Investing Assessment Questions

1. Do you have an investment plan?

2. Which wealth pillar are you investing in?

  • Stock Market
  • Business
  • Real Estate
  • 2 pillars
  • 3 pillars
  • 0 pillar

3. Do you take advantage of the tax-loss harvesting?

4. Do you have an investment plan?

5. Do you invest in index mutual funds or ETFs?

Tax Assessment Questions?

1. Do you know your marginal tax rate?

2. Do you know your average tax rate?

3. Do you know wether standard or itemized deduction is more advantageous for you?

Other Assessment Questions

1. Do you track your net worth? (= assets – debt)

2. How many sources of income do you have?

3 – What does financial freedom mean to you?

4 – What makes you happy in life?

Next Steps

Let me know if you would like to contribute by adding questions to the financial assessment questionnaire.

If you need help with your finances, don’t hesitate to schedule your free 15-minute call.

Learn about everything related to personal finance for free by reading my financial articles.

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