What is your financial success score … out of 100 percent? Any idea? Believe it or not … you do not have to sport a million in your bank account to score high … and you could show low financial progress scores … even if you have dollars galore in your bankroll.
Malcolm Bugler … author of the new book … 'Ten, Twenty, Seventy' describes his life mission as one that assists people to reach a high level of personal finance mastery.... This test of financial progress ... is Malcolm's thumbnail guage for who's making it.
Use this quick test to calculate your basic financial score ….
1. If your debt is not increasing each month, you score 10.
2. If you are actually paying yourself 10% and not spending it, score another 10.
3. If you are actually using 20% of your income for debt reduction, score another 10.
4. If you have paid all your debts and are using 20% for future investments, score another 10.
5. If your income from your investments is more than 10% of your monthly income, score another 30.
6. If your income from your investment is more than 20% of your monthly income, score another 30.
Now … it’s time to read your score….
-- A score of at least 20 means you are in the game.
-- A score of 30 to 50 means you are playing to won.
-- A score of 60 to 100 means you are definitely winning and … in Malcolm’s words…”need to find something to do with all the money you are accumulating!”
Check out Malcolm’s details and see more excerpts from this excellent book at Malcolm’s 'Ten, Twenty, Seventy' site. What do you think?
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