July 10, 2008
What’s your BillsIQ?
Do you know your BillsIQ? I just took the quiz and I scored 84%, which is acceptable only because I’m an ostrich when it comes to finances. I’d much rather keep my head down in the sand than know what’s going on. If you’ve been reading my blog you know that my professional license was due for renewal last week and I couldn’t renew because I was behind on my taxes. Here’s the thing: the money for the taxes was in the bank, but I procrastinated myself into a corner that was pretty uncomfortable. I took a week off to get my paperwork all in order and I’m happy to say that my taxes are paid and I’m back at work, license intact. Taking the Bills IQ exam reminded me that I really need to set up a budget and live within it, and that paying bills on time (like, say - my tax bill!) is pretty important to my financial health. The results also recommended that I consolidate debt and establish a retirement plan. All common-sense advice, and all things that I should be doing. The results weren’t 100% on-point in my case because the questions assume that you have credit cards. I don’t, so I had to “work around” a couple of the questions. Still, taking the test is a good way to see how you’re doing in several areas of financial health, and to find solutions for areas where you need some help. At the end of the test you’ll be able to compare your results with others, by gender, income, geography, age and education. I guess it’s good to know that I’m pretty close to the averages in all of those categories, but above-average would be better. Being “average” means that I’m late with my bills sometimes (even when I have the money in the bank) and that I haven’t done any solid financial planning. Well, yes, I am smarter than that, but too lazy (or maybe too unfocused) to do what I should do. Seeing my score and the explanation for the answers was a wake-up call. I’m getting close to retirement age and don’t have a lot of years left to “get my act togehter” if I want to have something to live on after I quit working. Maybe it’s time to start taking responsibility for my financial health, ya think? Maybe you could use a friendly reminder, too? Take the BillsIQ test and you’ll have a good picture of your own financial health.
Technorati Tags: BillsIQ, debt, financial health
Posted by skeet @ 4:30 pm • Finance
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July 13th, 2008 at 3:08 pm, Angie Says:
That’s pretty neat! I just took mine and got a 93%. I need to work on a retirement strategy. Thanks for sharing that!
July 15th, 2008 at 12:22 am, skeet Says:
I really hate dealing with anything financial, Angie, but the quiz is a good reminder that we really should be aware of our situations.