Can You Answer These Ten Money Questions?

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:

1. What is 2 + 2? (That’s a warm up question.)
2. How much money do you have?
3. How much do you earn each month?
4. How much debt do you have?
5. How much money do you spend each month?
6. How much do you spend each month on debt payments only?
7. How much money are you saving each month?
8. How much is in your emergency fund?
9. What is your net worth?
10. What’s your plan?
11. 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.