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Take this quiz to find out.", "image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/c44882d8-5901-40fb-8e60-ead5cdad2425.jpg?w=120&h=120&keep_ratio=1", "width": "5256", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/c44882d8-5901-40fb-8e60-ead5cdad2425.jpg", "height": "3508", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}}, "questions": [{"image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/c44882d8-5901-40fb-8e60-ead5cdad2425.jpg?w=120&h=120&keep_ratio=1", "width": "5256", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/c44882d8-5901-40fb-8e60-ead5cdad2425.jpg", "height": "3508", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "explanation": "Forbes indicates that 45 percent of Americans pay monthly maintenance and other fees on their checking accounts. Wouldn’t you rather be in the 55 percent of people who direct the money spent on this unnecessary expense to a more useful area of their budgets? Just make sure the bank you choose is insured by the FDIC.", "answers": [{"content": "I selected a major bank with a branch conveniently located between home and work.", "points": "0", "correct": "False"}, {"content": "I compared fees, minimum balance requirements and available services for all banks with local branches.", "points": "1", "correct": "True"}], "title": "How much thought did you put into choosing your bank?"}, {"image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/c194b644-64f0-4831-8031-9891ac5fe551.jpg?w=120&h=120&keep_ratio=1", "width": "5119", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/c194b644-64f0-4831-8031-9891ac5fe551.jpg", "height": "3418", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "explanation": "You can’t set a spending limit until you know where your money goes, and you’ll probably be in for a few surprises when you track your spending. $150 a month for to-go coffee? You could be putting that money to better use.", "answers": [{"content": "I would estimate a reasonable amount given my lifestyle.", "points": "0", "correct": "False"}, {"content": "I would track every dime I spend for a month to find out where my money is going. Then I would adjust that amount to eliminate unnecessary extravagances.", "points": "1", "correct": "True"}], "title": "When setting yourself a limit for discretionary spending, what factors should you consider?"}, {"image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/3cbb2cad-ea85-4df8-9606-3c8a2572b5ea.jpg?w=120&h=120&keep_ratio=1", "width": "5760", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/3cbb2cad-ea85-4df8-9606-3c8a2572b5ea.jpg", "height": "3840", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "explanation": "It’s a myth that carrying a balance from month to month will boost your credit. Even if that balance is low, interest charges from multiple cards can easily become a drain on your income.", "answers": [{"content": "I pay off the entire balance for each card I have monthly.", "points": "1", "correct": "True"}, {"content": "I consistently carry a balance on one or more of my cards, but the number is low.", "points": "0", "correct": "False"}], "title": "How do you handle your credit cards?"}, {"image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/87077cde-929a-4de9-bc62-86aa5ef1f207.jpg?w=120&h=120&keep_ratio=1", "width": "5121", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/87077cde-929a-4de9-bc62-86aa5ef1f207.jpg", "height": "3414", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "explanation": "That mobile app alert is great insurance against something inadvertently going wrong, but what if you’re in the middle of a business meeting or enjoying dinner out when it starts waving? Missed payments can mean late charges, and like those on-the-go coffees, this is money you can better spend elsewhere. Not to mention that excessively late payments can hurt your credit score.", "answers": [{"content": "I schedule automatic payments at the beginning of the month for the dates they’re due.", "points": "1", "correct": "True"}, {"content": "I have a mobile or computer app that alerts me when bills are due.", "points": "0", "correct": "False"}], "title": "How do you keep track of your fixed expenses?"}, {"image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/ecbf7023-207c-4a2c-8b39-f6d30e8f8e28.jpg?w=120&h=120&keep_ratio=1", "width": "8000", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/ecbf7023-207c-4a2c-8b39-f6d30e8f8e28.jpg", "height": "5333", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "explanation": "Both are good steps to take, but a lot of damage can occur in 12 months. In fact, you might find yourself turned down for credit at some point during that stretch, totally mystified because you haven’t been late with a single payment. Fraud alerts give you a heads-up, so you can act immediately to mitigate any damage. No one can open an account in your name without the business first verifying your identity. If you place an alert with a single credit reporting company, it’s obligated to notify the other two.", "answers": [{"content": "I get my free credit report once a year and periodically check my credit score to make sure everything is on track.", "points": "0", "correct": "False"}, {"content": "I’m signed up for fraud alerts with one of the major credit agencies.", "points": "1", "correct": "True"}], "title": "How do you protect yourself against ID theft and fraud?"}, {"image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/3dbdd491-ecd1-4cf1-af1c-9130b4c7753d.jpg?w=120&h=120&keep_ratio=1", "width": "4621", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/3dbdd491-ecd1-4cf1-af1c-9130b4c7753d.jpg", "height": "3796", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "explanation": "An employer-offered contribution-match plan is basically free money — for as much as you contribute to your retirement fund each month, your employer will match that number. Then there’s that other nice bonus — your contributions are tax-deductible, lowering your taxable income. Some experts suggest paying your retirement plan first, then balancing the rest of your budget around this.", "answers": [{"content": "I make sure to maximize my contributions to my workplace plan.", "points": "1", "correct": "True"}, {"content": "As much as I possibly can, but retirement is still a way off.", "points": "0", "correct": "False"}], "title": "How much do you put toward retirement savings each month?"}, {"image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/6a724f9b-9a46-4b26-9514-09e1414535db.jpg?w=120&h=120&keep_ratio=1", "width": "5252", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/6a724f9b-9a46-4b26-9514-09e1414535db.jpg", "height": "3390", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "explanation": "Insurance may be one of those bills you hate paying because it feels like you're not getting anything in return. But it's a godsend if you have to make a claim. The question then becomes: How much do you need? You should tailor both your deductibles and overall coverage to address your personal financial situation and your lenders' requirements. Consider talking with your insurance providers to avoid paying for more insurance than you reasonably need.", "answers": [{"content": "I pay for just enough coverage to protect me against having to pay more out-of-pocket than I can afford if a problem arises.", "points": "1", "correct": "True"}, {"content": "I’m insured to the hilt. I’d rather pay predictable premiums than face any financially disastrous surprises.", "points": "0", "correct": "False"}], "title": "How much do you spend per month on insurance premiums, including health, homeowner’s and auto?"}, {"image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/8fd16098-539b-45e1-9ead-9e4a8a0116e5.jpg?w=120&h=120&keep_ratio=1", "width": "5121", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/8fd16098-539b-45e1-9ead-9e4a8a0116e5.jpg", "height": "3414", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "explanation": "Budgets are not one-size-fits-all, but many experts recommend tucking aside 10 percent at a minimum. You can set up automatic savings transfers with your bank for the 10 percent, then save more when and if you can.", "answers": [{"content": "I adhere to the "50/20/30" rule and always save 20 percent of my income, no matter what.", "points": "0", "correct": "False"}, {"content": "I save a minimum of 10 percent and more when I can.", "points": "1", "correct": "True"}], "title": "How much do you save per month overall, including retirement contributions?"}], "conclusions": [{"content": "Time to Hit the Books: Financial discipline isn’t your strong suit. Start with one or two areas where you can improve (such as cutting excess spending or saving 10 percent of your monthly income) and move on to others once you master those.", "image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/599717dd-4c48-40cd-90c6-b39cd704f317.jpg?w=120&h=120&keep_ratio=1", "width": "4752", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/599717dd-4c48-40cd-90c6-b39cd704f317.jpg", "height": "3168", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "pointsrange": {"max": "3", "min": "1"}}, {"content": "You’re Almost There: You’ve got a pretty firm grasp on what you should be doing to best manage your money, but you may not be putting all that knowledge into practice.", "image": {"thumburl": "http://photos2.demandstudios.com/DM-Resize/s3.amazonaws.com/photography.prod.demandstudios.com/76078a1b-36f3-4296-9129-e10f0612a6a3.jpg?w=120&h=120&keep_ratio=1", "width": "5119", "url": "http://s3.amazonaws.com/photography.prod.demandstudios.com/76078a1b-36f3-4296-9129-e10f0612a6a3.jpg", "height": "3416", "credit": "Getty Images", "attributionhtml": "Getty Images", "validated_image": false}, "pointsrange": {"max": "6", "min": "4"}}, {"content": "Congratulations! 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Do You Pass the Money Management Test?

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You pinch your pennies, you’ve got a retirement plan in place and you’re insured to the nines. So you might think you have money management down to a science. But do you? Take this quiz to find out.

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