Bills IQ

You all know that we are a family of 4 surviving on a income of 1....well, we have PLENTY of bills to pay every month, rent, car payment, car insurance, ect. Well I came across this site called Bills.com, I took their Bills IQ test. It is where you can find out if you are financially fit or not. I wanted to share with you my person experience with the Bills IQ:

Overall I got a 71% C, which isnt bad considering I got worse in highschool lol. I knew we werent great with our bills, I kinda expected worse honestly. After I took the test and got my score of 71%, they give you tips and advice of how to improve each section, Credit, Debt, Budget, Wealth and Life Plan. They take each of your answers and tell you what you need to do to improve that aspect. EX: "Have you ever filed Bankruptcy?" my answer was "never"...they said "Good News. Bankruptcy is a public record on your credit report that can impact your employment, security clearance, and more. Bankruptcies can remain on your credit report for up to 10 years. It can have a damaging impact on your credit profile and credit score." After you review all of that information you can click and go to the next section which is things you can do NOW to improve your financial profile. After you have either done those, or decided not to, you can go to the next section which is where you can compare your score with others. To compare your score they ask a series of questsions such as gender, age, income, ect. They then compare you to all of those categories. I was well below average for all of them!

The main thing Bills IQ made me think about was the kids...we arent saving for their college! 2 kids (eventually more) to put through college is going to be tough! We really need to start saving for that. Jeff has a 401(k) so I'm not too worried about our future. He has a life insurance through work, and my dad has a life insurance on me so, I know the kids would be well taken care of after we are gone.

Ive learned that I really need to pay off my 2 credit cards (even though they are both under $500) Bills IQ also has Credit card debt help, we need to get our van paid off ASAP, and start saving to buy our own home. I really cant wait to own our own place instead of renting!!!