10 questions that can predict your financial future

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first_img 42SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Money, ideally, is a wellspring of security and freedom. Poorly managed or inadequate funds are the opposite: a sinkhole of uncertainty and constraint. The purpose of earning and saving is not to hit an arbitrary number in a bank account but to enhance these underlying values and experiences in order to live the life you want and provide for your loved ones. The Consumer Financial Protection Bureau (CFPB), the federal agency charged with protecting the wealth and income of average American citizens, has just released a financial well-being scale to measure how well money is working in your life.The simple 10-question, multiple-choice survey has been designed and tested to focus financial counselors, educators, coaches and planners on a single, simplified metric of financial health. The CFPB’s hope is that this survey will be taken by millions of Americans and used, for example, to assess the impact of a financial education program or to track an individual’s progress over time.Scores on the test can range from 0 to 100. It’s scored slightly differently for folks above retirement age (around 62). Not enough people have taken the scale yet to establish “good” and “bad” values, but reading it and answering the questions for yourself may inspire you to reflect on the biggest financial issues in your life.last_img

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