Navigating Financial Torrents: A Self-Quiz

Surviving today’s economic times can be difficult. But it can be done. The key is to save and spend more efficiently. To discover how efficient you are, try answering the following questions.

1. Most people “pay” themselves (through savings) last. Do you?

   1. No

   2. Sometimes

   3. Yes

2. Have you projected a realistic program of budgeting and saving with your husband or wife?

   1. Yes

   2. We are working on one

   3. No

3. Have you ever sought wise counsel on budgeting, saving, or increasing family income?

   1. Yes

   2. I’ve read a book or article about it

   3. No

4. In today’s shaky economy, should you consider buying a house?

   1. Yes

   2. I’m not sure

   3. No

5. Have you stored a year’s supply of food?

   1. Yes

   2. A few months

   3. No

6. Do you spend less than 10 percent of your annual income via credit cards?

   1. Definitely yes

   2. I’m a little over 10%

   3. Over 15%

7. Have you heard of zero-based budgeting now implemented in many business and government agencies?

   1. Yes

   2. I think so

   3. No

8. Circle each money-saving rule that you consistently follow:

   • Compare prices

   • Read current consumer articles

   • Buy quality used items when possible

   • Budget gift-giving

   • Shop with a list

   • Review receipts for errors

   • Consume less gasoline

   • Weatherize home

To evaluate your score, award yourself two points for each “A” answer, one point for each “B” answer, and none for each “C” answer. To score question ten, give yourself one point for each item that you circled. Then total all points.

Generally, scores above eighteen points distinguish you as a great family financial planner.

A total between six and eighteen suggests that you have found some pathways through these turbulent times but need to try more approaches. Read a few of the excellent priesthood and Relief Society lessons and past Ensign articles dealing with family preparedness.

A score below six points simply means that you have not yet discovered the many means that alert financial managers are using to reduce financial stress.

Whatever your score, take heart! Talk with wise people, get some sound advice, and remember—the sky is the limit! And as Presiding Bishop Victor L. Brown has said: “The LDS family that develops … family preparedness will experience serenity in the midst of upheaval, security in the midst of uncertainty, and sustenance in the midst of want.” (Ensign, Nov. 1975, p. 115.) Eric Stephan, Provo, Utah, and Jan Adam Stephan, Orem, Utah