Quiz | Caleb Hammer

1. Do you know how much you spent last month? *

Yes, I track every dollar and review my spending weekly

I have a general idea, but I don't track everything

I only know my big expenses (rent, car, etc.)

No idea, I just hope I have money left at the end of the month

2. Do you have a system for tracking your income vs expenses? *

Yes, I use a budgeting app or spreadsheet and update it regularly

I check my bank account regularly, but I don't have a formal system

I only track when I think I'm overspending

No, I don't track anything

3. Do you categorize your spending (e.g., groceries, entertainment, utilities)? *

Yes, I have detailed categories and review them monthly

I have a few categories, but I don't review them often

I lump everything together as "expenses"

I don't categorize anything

4. How often do you review your budget? *

Weekly or bi-weekly

Monthly

Once every few months

Never, I don't have a budget

5. Have you cut any unnecessary subscriptions or expenses in the last 6 months? *

Yes, I regularly audit and cut things I don't use

I've cut a couple things, but I know there's more

I've thought about it, but haven't done it yet

No, I don't even know what I'm subscribed to

6. Do you know your total debt balance (credit cards, loans, etc.)? *

Actually, I don't have any debt

I know the rough amount, but not the details

I know some of it, but not all

No idea

7. Are you paying more than the minimum on your debts? *

Thankfully, I don't have debt

Sometimes, when I have extra money

Rarely — I usually just pay the minimum

No, I only pay the minimum (or less)

8. Do you understand how interest rates affect your payoff timeline? *

Yes, I know my rates and have a payoff strategy

I have a general idea, but I haven't done the math

Not really — I just make payments

No clue

9. Have you refinanced, consolidated, or negotiated any debt in the last year? *

Yes, I actively look for better rates and terms

I've thought about it, but haven't acted yet

I didn't know that was an option

No, and I don't know how

10. Do you contribute to a retirement account (401k, IRA, etc.)? *

Yes, I max it out or contribute at least 15%

Yes, but I contribute less than 10%

I have one, but I rarely contribute

No, I don't have a retirement account

11. Do you know the difference between a Roth IRA and a Traditional IRA? *

Yes, and I've chosen the best one for my situation

I know the basics, but I'm not sure which is best for me

I've heard of them, but don't really understand the difference

No idea

12. Have you started investing outside of retirement accounts (brokerage, stocks, ETFs)? *

Yes, I have a diversified portfolio

I've started, but it's small

I've thought about it, but haven't started

No, I don't know where to begin

13. Do you understand asset allocation and risk tolerance? *

Yes, I've designed my portfolio based on my goals and risk tolerance

I have a general idea, but I haven't optimized my portfolio

I've heard the terms, but don't really understand them

No clue

14. Do you know how much house you can afford? *

Yes, I've run the numbers and know my budget

I have a rough idea based on my income

I have no idea, but I assume I'll figure it out when the time comes

I don't know and haven't thought about it

15. Have you explored house hacking, rental income, or real estate investing? *

Yes, I own rental property or plan to house hack

I've researched it, but haven't acted yet

I've heard of it, but don't know much

Never heard of it

16. Do you understand the difference between fixed-rate and adjustable-rate mortgages? *

Yes, and I know which is best for my situation

I know the basics, but I'm not sure which to choose

I've heard the terms, but don't understand the difference

No idea

17. Do you have 3 – 6 months of expenses saved in an emergency fund? *

Yes, I have 6+ months saved

I have 1–3 months saved

I have less than 1 month saved

No emergency fund at all

18. Do you have a plan if you lost your job tomorrow? *

Yes, I have savings, a plan, and multiple income streams

I have some savings, but no formal plan

I'd probably be okay for a few weeks

I'd be in trouble immediately

19. Do you have adequate insurance (health, life, disability)? *

Yes, I've reviewed my coverage and I'm fully protected

I have some insurance, but I haven't reviewed it recently

I only have the bare minimum

No insurance, or I don't know what I have

20. Have you reviewed your financial plan in the last 6 months? *

Yes, I review and adjust regularly

I reviewed it sometime in the last year

It's been over a year

I've never had a financial plan

Amazing! You're one step away from your personalized financial roadmap 💪

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