FI Checkpoint: Where Are You At? | brokeGIRLrich
So this post is to point you guys in the direction of this fun quiz over at Cashflow Cop.
Remember being a fourteen year old girl and taking quizzed in Seventeen to find out if you were a Dawson or a Pacey kind of girl?
Pacey all the way.
Weren’t you all fourteen year old girls once??
Well, fear not. This quiz is nothing like that. Give it a go yourself here to find out where you are on the FI Journey (scroll to the Excel sheet at the bottom of the post to take the quiz – it’s very fast).
If you want to lay on your bed on your stomach with your feet in the air while you do it, I think that’s ok too.
So I went into this thing a little cocky thinking I’d do pretty well but I only got a 5/14. I’m a lowly Sergeant. This puzzles me a bit as I am debt-free, but whatever.
Though to be fair, while I’ve been chasing Financial Independence for a little while now, it really hasn’t been all that long, and I have managed to do all the damage control of fixing all the bad financial stuff in my life.
Here are some things I scored well in:
- I have income, and it’s higher than my expenses (most months).
- I have an emergency fund, but it’s only funded for up to 6 months (though probably longer if I really had to stretch it).
- I don’t have any debt!
Working on your own emergency fund? Here’s my post about how great emergency funds areand another post about some of the best places to stash your cash.
However, I failed in the last seven questions about passive income.
I currently make about $500 a year in passive income from savings and investments, so I’m definitely not on the FI spectrum there yet.
If the quiz leaves you feeling disheartened, check out this post I wrote about the Personal Finance Mountainand maybe some of the resources in there will help you get to the next step on the FI Checklist!
I also got a 5/14 and I’m still digging my way out of debt. But I like the checklist, kinda breaks the process of becoming FI down even further into smaller goals.
MsFISeeker recently posted…Things We Cut to Add Money to Our Debt Snowball
I agree, it’s always fun to have something to mark your progress against and inspire you to keep going!
Thanks for giving it a go everyone. I hope you don’t feel too disheartened.
The first version was not perfect. Give the second version a go. It might make you feel better. If not, it is at least much more accurate with pointers to improve to the next checkpoint.
The link to version 2.0 is in the original post above.
I am working on version 3 at the moment so let me know if you have any feedback.
I like this Cashflow Cop site, thanks for that. This is one I need to read absolutely everything on and add to my daily update list.