As we near the end of our MULA series, I want to encourage you to take a few minutes and honestly answer the following questions.

 

I found the following test on pages 153-154 of Ron Blue’s, “Taming the Money Monster.”

 

 

1. You spend money in the expectation that your income will increase in the future. 

    True____   False____

 

2. You take cash advances on one credit card to pay off bills on another.

    True____   False____

 

3. You spend more than 20 percent of your income on credit card bills. 

    True____   False____

 

4. You often fail to keep an accurate record of your purchases. 

    True____   False____

 

5. You have applied for more than five credit cards in the past 12 months. 

    True____   False____

 

6. You regularly pay for groceries with a credit card. 

    True____   False____

 

7. You often hide your credit card purchases from your family. 

    True____   False____

 

8. Owning several credit cards makes you feel richer. 

    True____   False____

 

9. You pay off your monthly credit card bills but let others slide, such as doctors’ bills and utility bills. 

    True____   False____

 

10. You like to collect cash from friends in restaurants and then charge the tab on your credit card. 

      True____   False____

 

11. You almost always make only the minimum payments rather than paying your entire credit card bill. 

      True____   False____

 

12. You have trouble imagining your life without credit. 

      True____   False____

 

Now score your responses. How many times did you answer true?

 

1-4 True. You can probably keep going. You don’t splurge uncontrollably.

 

5-8 True. Slow down, you have entered the caution zone. It’s time to draw up a budget, pay off your bills, and reevaluate your spending habits.

 

9-12 True. You have to stop. You might be wise to consult a credit counselor or financial planner for help in changing your spending habits.