Derek over athowdoimoney.comwrote a post about the “ten easiest money questions ever” that I found interesting. I don’t agree that these are the “easiest” questions ever, but I do think they are some of the most important questions ever – and ones that everyone should think about and have answers to.
What are the questions? Here they are as he presented them in his post:
- What is 2 + 2? (That’s a warm up question.)
- How much money do you have?
- How much do you earn each month?
- How much debt do you have?
- How much money do you spend each month?
- How much do you spend each month on debt payments only?
- How much money are you saving each month?
- How much is in your emergency fund?
- What is your net worth?
- What’s your plan?
- Bonus question to make up for question #1: How many months until you are debt free?
Those are excellent questions that far too few people take the time to ponder. A financially fit person should be able to answer each of those questions with little effort. If you don’t know the answers to them for yourself, how about taking a little time to collect the needed information and think about the results. Knowing this information is a key part of having a financial plan that can help you achieve your life goals.
Want free budgeting spreadsheets?
Get Dave Ramsey's forms in spreadsheet format sent to your email...