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MONEY SMART
Spend smart, invest sucessfully and live the life you want.
Test Your Money IQ
Indicate how much you agree with the following statements as best as you can.
1. I can and will manage my money successfully.
2. When I decide to make a change in a spending or saving pattern, I follow through with the change.
3. I have written down clear life goals.
4. I live below my means.
5. To be successful with money people usually need to make a lot of money.
6. Personal money management is very complicated. It is a good idea to rely on professional advice for key decisions, especially when it comes to investing.
7. Provided I have enough time, the best strategy for investing in the stock market is to be patient and invest for the long run.
8. I have been unable to spend very much time with family and friends in order to build a better life for tomorrow.
9. I have a written spending and savings plan that I follow.
10. Excluding a first mortgage, car loan and student loans, I don’t have any debt.
11. I help or give back to others on a regular basis.
12. I have been saving a good amount for my future for quite some time.
13. When I get a raise I spend less than half of it.
14. I have my savings automatically withdrawn directly from my paycheck.
15. I have a prioritized written list of the major purchases I wish to make for at least the next 12 months.

16. I do a good portion of my regular shopping at Costco, Sam s Club, BJ s or a similar source.
17. I almost never make a purchase on impulse.
18. I actively limit the number of possessions I own.
19. I often use the internet as part of my buying process for things over $100 and for things that I buy repeatedly.
20. When making a purchase I try whenever possible to buy the cheapest item.
21. Whenever possible I ask for or try to negotiate a better price for products and services.
22. I am likely to respond to advertising for services (such as plumbers, attorneys, etc.) when I need them.
23. My emergency (rainy day) savings provide a good safety net.
Note: The following questions have a different answer format.
24. Assuming you had the money, how often you would buy a brand new car?
25. The following types of insurance are worth getting: life insurance for children; mortgage protection life insurance; travel insurance; credit card theft insurance; credit card balance insurance.

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MONEY SMART BLOG   Recent articles…

Should I Invest in Gold?

I've been asked that question a lot, especially in the last month or so. Over the past year I have consistently advised against investing in gold and that advice has been pretty good as the price really hasn't changed much. I do believe there will come a time when owing some gold will be a very good idea, but I don't believe we've reached that point as yet for a variety of reasons.

We See Through the Lies!

Earlier this week, a New York Times article came out that really caught my attention. It was disappointing to see the typical economic spin that encourages people to invest with the financial services industry NO MATTER WHAT taken to such great lengths, but was also encouraging to see that the article was in response to a terrific new trend by their customers. People are really starting to catch on that it’s not a good idea to invest in the stock market, especially not at this time, and have been pulling their money out. Now, that’s great news.
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