It’s okay if you’re wondering how bad things are.
The drumbeat of economic news has you on edge, and rightly so. Inflation is at a 40-year high, mortgage rates are inching up, credit card debt is getting more expensive, and the release of government data suggests the economy is slowing down. Meanwhile, unemployment is near historic lows. It all can be confusing.
So I’ve teamed up with my colleagues to build this quiz to help you figure out how current economic events could impact your finances. There’s no right or wrong answer. The questions are a way for you to gauge where you stand financially. Your score — and our financial advice — could help you prepare for what’s coming if the economy gets worse.
Question 1 of 10
Do you have enough money coming in to cover necessities?
Question 2 of 10
Do you have monthly student loan debt that was difficult to pay before the pandemic?
Question 3 of 10
Do you have emergency savings?
Question 4 of 10
Are you contributing to a retirement account?
Question 5 of 10
Do you have revolving credit card debt?
Question 6 of 10
Do you have to pay for gas for the drive to work?
Question 7 of 10
Are you looking to buy a home within six months to a year?
Question 8 of 10
Do you have a fixed-rate mortgage?
Question 9 of 10
Has your rent increased significantly?
Question 10 of 10
Do you need to buy a new or used car soon?
You need to answer every question to see your result. You’re missing Questions 1, 2, 3, 4, 5, 6, 7, 8, 9 and 10.