How I scored on Bills IQ - Sponsored Post

I recently took the Bills IQ quiz which asks 5 different questions in 5 specific categories for a total of 25 questions. The goal of the quiz is to give you an understanding of your overall financial health and ways to improve your financial score. I received a total score of 94 which is considered an A. The detailed results of each of the 5 categories are as follows -

Credit - 95%
Debt - 97%
Budget - 98%
Wealth - 93%
Life Plan - 85%

Overall I thought the quiz was right on with how I view my financial situation. The quiz reaffirmed my strong areas when it comes to money in the Debt and Budget categories. The only debt that we carry (other than our mortgage) is a lease payment on one car. My family pays off all the bills each month which is possible because of our well laid out budget. The budget category scored the highest for me.

The quiz also help me to realize that I need to focus more on my family’s life plan which scored the lowest coming in at 85%. As I am the only money earner in the family of 4 (my wife is a stay at home mom), I am responsible for all of our income. While I have a good job at a strong company, I need to focus more on my long term career goals, retirement, and purchasing additional life insurance.

Having a family with two young children, I often struggle with how much to budget for medical expenses. I feel that any money that goes to medical expenses is money that isn’t going into my family’s savings, our 401k plans, and our children’s 529 College Savings Plans. My oldest son has severe allergies and asthma so I need to ensure that we have enough money saved up in order to offset any unforeseen medical expenses. Having a sound budget and financial plan can help to meet these goals.

Bills IQ offers help on several financial categories including Debt consolidation, Debt help, and Debt relief.