Quiz - Is Your Lifestyle Habits Affecting Your Future Financial Prosperity?

Written on Friday, September 8, 2017
By Team Bajaj Capital

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We all strive to comfort our families with a healthy and enjoyable lifestyle. However, all that is earned, can't be spent in the name of lifestyle as we must do proper savings as well as investing in order to meet our future financial goals. Afterall taking care of the future needs of our family is as important as facilitating their present or current requirements. Hence, we need to maintain a proper balance while allocating our money towards lifestyle expenses and towards our future prosperity. So are you properly maintaining that balance? Take up this quiz to judge yourself. 


The quiz will help you to see if your current lifestyle habits are affecting your future financial stability?. Answer the following questions.


1. When I get the salary, my prime financial concern is: 
A. To save as much as I can 
B. To get rid of my loans 
C. To equipped my life with high-end products 
2. I save: 
A. 10%-30% of my salary 
B. It varies, I save what ever is left after other expenses 
C. My salary is not sufficient for any savings 
3. I spend: 
A. As per my planned budget 
B. As per the balance left in my bank account 
C. As I wish depending my debit + credit card capacity
4. I use my credit card: 
A. I don't use credit cards 
B. Once in 2-4 months or when inevitably required 
C. Every month 
5. I pay my credit card bills: 
A. No bills, if any I pay in full every month 
B. Sometimes I could pay only the minimum amount due 
C. Every month, I could pay only the minimum amount due 
6. My budgeting habits include: 
A. Keeping a track of each and every expenses 
B. I maintain record of expensive purchases only
C. I always fail to track my expenses 
7. I do luxury Dine-Out, Movies, Shopping, etc.: 
A. As per my monthly budget plan
B. Only when my pocket permits
C. Whenever I feel like 
8. I utilize my annual appraised salary:
A. To increase my savings
B. To raise my lifestyle standards as well as savings 
C. To raise the bar of my lifestyle standards only
9. My investment portfolio includes:
A. Investments for my financial goals
B. Investments as per my tax saving needs
C. I haven't done any investment 
At the end of the quiz, sum-up your points to get your final score. 
. If you choose option A, you get 3 points 
. On choosing option B, you get 2 points 
. On choosing option C, you get 1 point
More than 20 
Good Going! You know what you have and what you want in future. Your lifestyle is completely in sync with your earning capability as you have a plan regarding how much to spend, when to spend and how much to save. Keep up your budgeting and financial planning habit. However, to further strengthen your future financial prosperity, you might require increasing or rightly managing your investments. For this, you can get your financial portfolio reviewed by professionals and take their advice. 
Between 13-20
Need Improvement! You are not spending blindly, but at the same time, you are not even managing your finances rightly. You lack a financial plan that is why sometimes your expenses go out of control and your saving habit also lose its uniformity. First of all, you need a plan, develop the skills of budgeting and learn how to allocate finances, so that you can have a well-manged lifestyle, and not a very restricted or extravagant one. Having a plan will also keep stable in your investment journey as well. You can start by doing your self-financial assessment, check out how. 
Less than 13 
Need Corrections! You are living way above your means. You are not effectively managing your finances as your earning is not sufficing your current lifestyle and spending habits. Also, you are not saving anything for the future. You need to control your expenses, reduce your dependency on credit cards, do proper financial assessment in order to be back on track. Next, you need to increase your savings and start investing for your future financial security.


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