26 Questions That Will Help You Discover Your Financial Values

Boluwatife
29 Dec, 2022

Today we are going to ask questions that will help determine our financial strength and how we can improve ourselves for better future. 

What is your relationship with money? Do you love to save and budget for the future, or are you all about enjoying that hard-earned money and prepared to go into debt for it? Either way, we need to get better at talking about it if we ever want to be better at managing it, and eventually having more of it. Especially when you consider that globally, women control upwards of $20 trillion in annual consumer spending. But sadly, when it comes to managing money and planning for their financial future, women aren’t as independent as you’d expect. A study found that more millennial women cede control to their husbands than women of older generations. Well, our new series, The Money Files is set to change all that by helping women become masters of their own finances so they can manage their money and their future.

Money. We all love spending it and we all want more of it, but saving it is the hard part. It’s not that we don’t want to see more money in the bank (duh) but striking a balance between saving for the future and living the life you want isn’t always an easy one to master. Too often, the pendulum swings farther into the spending camp and before you know it, you’re in the red and playing catch-up with the interest charged on your credit card debt.

Don’t worry, we get it. That’s why we asked Priya Malani, partner of Stash Wealth, to help us all get our finances in order. So, she sent us 10 important money questions to ask ourselves so we can bank that cash, pay off that debt, and live life like a millionaire (well, that’s the dream).

Now if you can answer Yes or No to the following questions, your chances of living better life of your dreams is sure. Remember your answer should be Yes, No or I don’t Know. I want you to be honest with yourself as well. 

1. Do you know present financial condition or networth? 

2. Are you satisfied with your present financial condition? 

3. Are you aware of the simple ways to increase your networth? 

4. Do you have enough saving to see you through six months of normal living expense if you lose your job right now? 

5. Do you save money on a regular basic? 

6. Have you form the habit of saving? 

7. Do you have a well define documented financial goal? 

8. Do you have a Bank Account? 

9. Do you reconcile your bank statement every month? 

10. Do you keep records of your income and expenditure? 

11. Do you know how much you spend each month? 

12. Do you spent less than you earn? 

13. Do you have a household budget and are you successful at managing it? 

14. Do you avoid major credit purchase? 

15. Do you take advantage of all saving and investment opportunities that come your way? 

16. Do you have any investment that’ll help to reduce your taxable income? 

17. Do you diversify your investment? 

18. Are you satisfied with the contribution from your investment to your total income? 

19. Do you feel you have a brilliant financial adviser or team of financial adviser? 

20. Do you feel you have sufficient life insurance cover? 

21. Do you have a plan for your children college and university education? 

22. Do you own a house? 

23. Do you have a plan to retire in comfort? 

24. Have you prepared your WILL? 

25. Are you in control of your financial future? 

26. Are you satisfied with the contribution you have made to the world? 

Now here is the score guide: 

If No or I don’t Know is between 0 and 4: You are in good shape. 

If No or I don’t Know is between 5 and 10: You are on the right path but you need to improve. 

If No or I don’t Know is between 11 and 12: You are on a weak point, something have to be done. 

If No or I don’t Know is between 13 and above: You need help because poverty is knocking on your door. 

That’s all for now, let us known what is your take on this by using the comment button below. If you have any question I promise to do my best to answer you. 

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