Personal Finance Questions You Should Be Asking Yourself
Wondering about how secure your financial situation is? Here are a few questions to ask yourself and find out.
Top 7 Personal Finance Questions You Should Be Asking Yourself
1. Do I Have Enough Control of My Money and Assets?
One of the first personal finance questions you should be asking yourself is “What is my NET income”? Do you know how much you’re spending monthly and how much of it is going to unnecessary expenses?
Security comes from control. Take a look at your assets and optimize their use.
2. How Do I Improve My Income?
What are your career prospects? Are there any chances of improving your salary? Could you get a better-paying job in your field? Could you get a side-hustle?
Start small – determine what your goals for the next year are. Where do you want to be in 12 months and what do you intend to do about it?
3. What Can I Do to Improve My Credit?
This is one of the most important personal finance questions you should be asking yourself if you really care about your future financial prosperity. It’s no secret that credit scores basically govern our financial lives. Any financial decision we make could have a long-term consequence that could either harm or help our financial standing.
Determine which problematic aspects of your spending are harming your credit and do what’s in your power to improve it.
If you have trouble determining them on your own – ask for a professional’s help. This is one expense you shouldn’t try to save on.
4. Am I Handling My Debt Correctly?
American people’s relationship with debt is becoming ever more complicated. There has been a divide into two camps, one of which views debt as the evil that should be avoided at all costs, while another views it as an inescapable part of life that saddles you for years.
Have a game plan for your debt, even before you acquire it. Know what you’ll be putting towards it every month and how soon you’ll be done.
If you’re already in debt, choose a payoff method that will help you get rid of it sooner. Debt is a tool that can be helpful if correctly utilized – that doesn’t mean you should be stuck with it for more than absolutely necessary.
5. Am I Saving Enough for Retirement?
Are you on track for retirement? Are you maxing out your 401K (or 403b)? Do you have a (preferably Roth) IRA? These are the personal finance questions you should be asking yourself in order to ensure your financial future.
If you were to retire at 60, how much money would you have access to, if you count on standard 7% revenue on your assets?
Cover your bases while there’s still time – even if means giving up on certain things in life.
6. Am I Safe from Financial Emergencies?
Taking care of emergency fund in advance is a wise choice. That’s the reason why emergency should be on your list of personal finance questions you should be asking yourself.
Imagine your car suddenly breaks down. Or you suddenly have to pay an emergency visit to a doctor or a dentist. Or you suddenly have to move to another state on short notice.
Do you have the cash to cover it? Most Americans wouldn’t be able to cover a $500 emergency out of pocket, not to mention a $5000 (that’s how much an interstate move costs, on average).
That’s why you need an emergency fund. One that covers at least 6 months’ worth of your expenses.
Without an emergency fund, you might easily find yourself in a pinch at the most inconvenient of times.
7. How Do I Handle an Emergency without an Emergency Fund?
Before making any decisions, consider all aspects of your problem. How time-sensitive is it? Would it get worse if not handled immediately? How much time would you need to get the necessary cash together?
If the deadline isn’t pressing, you should try to get cash together from sources that don’t add to your financial issues (work overtime, ask for an advance, get a side-hustle).
But if that’s not an option, you might need to consider looking into other options – like getting an online title pawn, for example.
Getting an online title pawn with Georgia Auto Pawn, Inc. is a simple, quick, and accessible way to get cash when you’re on a tight deadline since your credit and income situations will be accommodated (you can even get approved while unemployed!).
Apply for an Online Title Pawn and Get up to $15,000 TODAY!
To qualify for an online title pawn with Georgia Auto Pawn, Inc. you’ll need a driver’s license or state-issued ID (you must be over 18), a car, and its lien-free title in your name.
Start the process by submitting an online inquiry form on the website, You’ll be contacted by a store representative who’ll provide further information and schedule an appointment for you.
Take the required items to the appointment for an assessment. Based on their state an associate will determine if you qualify for the loan.
If they approve you – you’ll get the cash the same day.
So, what are you waiting for? Get started now by filling out a short intake form on our website and get up to $15,000 title cash today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.