There are many questions that you could potentially ask in order to stress test your personal finances, however, the following list should hopefully help you to work out how well organised you are when it comes to managing your finances and preparing for those “what if” events that can crop up in life.
If you answered mostly “YES” to the questions above then it’s likely that you are in control over your financial affairs, however, it is important to review your situation and to seek professional advice periodically and when your personal or financial circumstances change. In reviewing your situation, the first step may be to identify the areas that you were unsure of or answered “no” to above and look to put some measures in place.
If you answered mostly “NO” to the questions above, then you could benefit from seeking professional advice to help you develop healthy spending and debt management habits, understand your superannuation and insurances and put in place some simple yet important measures to ensure you can manage the “what if’s” in life.
ClearWay Advice and Financial Management is a Corporate Authorised Representative Representative No.473095 of Keystone Partnership Pty Ltd ABN 22 169 650 720, Australian Financial Services License (AFSL) No.466137.