Thursday, 16 February 2017

Personal Finance Fitness Test (PFFT)



PFFT is a simple questionnaire i have designed to help you determine your financial intelligence status and how well you are doing on your journey to financial freedom. Please answer “YES”, “NO” or “NO IDEA” to the following questions.
Questions
1.         Do you save money on a regularly basis?
2.         Do you know your present net worth?
3.         Are you okay with your current financial condition?
4.         Do you know how to increase your cash flow?
5.         Is your savings up to your 6 months living expenses?
6.         Do you have a bank account?
7.         Do you record your income and expenses?
8.         Do you spend than you earn?
9.         Do you reconcile your bank account regularly?
10.       Do you know how much you spend monthly/yearly?
11.       Do you own a house or other landed property?
12.       Do you have other forms of investments?
13.       Do you budget your expenses or you spend on impulse?
14.       Have you taken any form of insurance policy?
15.       Do you have a plan to retire rich and at will?
16.       Do you set aside some money for investment regularly
17.       Do you have a plan for your children’s education?
18.       Do you have an investment account?
19.       Do you a financial mentor or coach?
20.       Do you have more than source of income?
21.       Do you devote enough time to financial issues weekly?
22.       Do you read books on money regularly?
23.       Do you make constant efforts to boost your I.Q?
24.       Do you honour God regularly with part of your wealth?
25.       Are you in control of your financial future?
26.       Are you creating and adding enough value to humanity?
27.       Have you prepared your last will?

KEY TO SCORES: If “YES” is
            20 & above                -           Good shape. Keep it up
            11 – 19                       -           On course. Keep focus
            6 – 10                         -           Week shape
            1 – 5                           -           Poor shape. Need help

No Cause For Alarm
 No matter how bad your case, there is no need to panic. There are ready prescriptions in this blog and other financial resource materials that will offer you very quick recovery if religiously applied. Age has nothing to do with money making. You can start at any age and achieve financial independence.
I hope you find this exercise interesting and useful. If so please help others to get to know about this post. Share with your relations, friends and acquaintances.
Watch out for more uplifting posts on this blog.
Yours sincerely,
Aminu Sule

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