First FinFit Test
For this test first make list of your monthly expenses .... (Take your Bank statement and mark your expenses the past month)
Then you take your real income:- Paid into your Bank account monthly
Take Income R ......, ...
Expenses R......... , ...
Total: R........ , ....
If your income is more than your expenses you are ... OK
Then move to the second Test
If your Expenses are more than your income ... you are Financially "UNFIT" A fitness program will be recommended
Second FinFit Test
In this test you will encourage to pay 30% of your salary as debt repay , this is repayments to towards all your debt
Take your total Monthly Income:-
Divided by Total monthly Debt repayment x 30%
R ...... / R ...... x 30%
If your monthly repayments exceed 30% you will be left with to little funds to be Financially Fit
You may have to get an Action Plan to assist you to reduce your debt or consider consolidating your debt
Also look at the GOOD Plan to assist you with this
Choose to change
This is outmost important if you are serious in changing your financial fitness
First, take the two DIY Tests which will test your Fitness in the following two areas:-
1. INCOME / EXPENSES
2. INCOME / DEBT
If you choose to improve your Financial Fitness you need to urgently look at ...
The Financial ROAD MAP...
This will give you an opportunity to move forward with your financial situation with an ACTION Plan/Road Map ... Presently you just do, no planning no action ... now you must change ...