Measuring Your Financial Progress

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The following statements will help you determine how well you are doing. Check all that apply to you as you periodically review this list.

	I know my short-term, intermediate, and long-term financial goals.
	I understand my financial resources; I am familiar with my pay and the deductions that determine my net income; I have calculated my net worth.
	I follow a spending plan, or budget, for managing my income and expenses.
	I target at least 10 percent to 15 percent of my net income for savings/investments each pay period.
	I have an emergency fund that can pay for 3 to 6 months of basic living expenses.
	I use credit wisely: I pay my balances in full each month, and I limit my open lines of credit.
	I know my credit score and the information contained within my credit report.
	I check my credit report at least once each year for accuracy.
	I understand my consumer rights and take steps to ensure my credit rating is accurate.
	I am investing for retirement. I contribute to my 401(k) or 403(b) at least enough to obtain the entire match offered by my employer. I understand the federal income tax advantages of IRAs and other plans.
	I am familiar with my options for investing for education.
	I am familiar with the basic investing implications of stocks, bonds, real estate and mutual funds.
	I have purchased appropriate auto insurance coverage for my vehicle.
	I have purchased renters insurance to protect my personal property (if you do not own a home).
	I have insured my home for its complete replacement value (if you own a home).
	I have appropriate life insurance for my situation. My death will not create a financial burden for my family.
	I have the appropriate level of health insurance for my situation.
	I have appropriate disability income insurance.
	I have prepared and executed a will and powers of attorney as appropriate. I update them regularly to prevent my estate and other important matters from being delayed in court after my death.