Your Financial Health Score
It’s so easy! Within two minutes, you can find out your financial health score with FIFO Management’s online self check system. The following multiple choice questions will provide a window into your financial circumstances and give insights into where you may be able to refine and improve your future financial health.
How often is your credit card paid on time?
Remember... even if you have the money available but pay late, it is still late!
How often are your bills paid on time?
Remember... even if you have the money available but pay late, it is still late!
Do you spend more than you earn?
When you add up all of your essential living costs, plus general expenses, are they higher than your wage? Remember to consider growing credit card debts... not just whether there is cash left in your bank each month.
How much does debt restrict your daily life?
How much does debt restrict your daily life? Debt includes any scheduled payments such as loans, mortgage, rent etc. Daily life restrictions can range from the ability to go out for dinner, to taking a holiday or limiting the area you choose to live in.
If your income stopped today, how long could you survive financially on your current savings?
Your savings would have to cover essential living costs, plus any scheduled payments which you can’t skip such as groceries, housing, utilities, child care, insurances, mortgage, loans, credit cards etc.
Are you saving enough for retirement?
Sufficient funds is considered 70% income replacement rate. To see if you’re on track, use FIFO Management’s Retirement Calculator.
If you can no longer work or your house burns down, are you financially protected by insurance?
Think beyond getting injured on the job. If you fall ill and can no longer work, or one of your assets is destroyed, do you have the right insurance to allow your finances to remain on track.
