What grade do you give your personal finance skills?

Debt: Credit, credit cards, mortgages, auto, etc. -
B+ - I only have a mortgage.

Budgeting
B- - Sometimes higher but November and December, both the wife and I seem to blow up our budget.

Long-term financial planning
A - Maxed out everything I can, 401K, Roth, 529, etc.

Risk / Insurance
A - Insured 10x my income with a term life policy. When it expires in 27 years I will be self insured.

Investments: 401k, 403b, stock portfolio

See Long term planning

Real Estate
D - Primary Mortgage is okay. I took a hit on an investment property and had to short sale a couple years ago.

Overall - C+ I made a major mistake with zeros on the end of it, but I learned.

Mind you I am a college student so this probably doesn't mean shite

quote:

---

Debt:

---

Have none

quote:

---

Budgeting

---

i'm pretty bad at this. I generally think hard about what I am buying before I do, but hardly ever put it on paper

quote:

---

Long-term financial planning

---

I'm working hard on my education

quote:

---

Risk / Insurance

---

not applicable

quote:

---

Investments: 401k, 403b, stock portfolio

---

I have a good chunk in index funds. A lot from birthday money, ect, but some from my earned money

quote:

---

Real Estate

---

not applicable

quote:

---

Debt

---

A - I'm not afraid to use debt correctly, in the right circumstance it is smarter than paying cash. But I'm very careful not to misuse it and always read the fine print.

quote:

---

Budgeting

---

C - I'm pretty bad at this but fortunately have enough surplus income that it doesn't matter. Basically I just don't spend a huge amount on "stuff" but don't really have a budget beyond making sure my 401 and Roth get stuffed each year.

quote:

---

Long-term financial planning

---

B - I think about it sometimes but again I have enough extra income that I'm not all that worried.

quote:

---

Risk / Insurance

---

B+ - I have an umbrella and enough LTD to take care of things, plus the other usual stuff.

quote:

---

Investments: 401k, 403b, stock portfolio

---

A - I used to help manage portfolios for a living. I actually read the fund prospectus, for example, to make sure what I'm getting is what the name of the fund would imply.

quote:

---

Real Estate

---

D - Don't really know much here.

quote:

---

Debt: Credit, credit cards, mortgages, auto, etc.
Budgeting
Long-term financial planning
Risk / Insurance
Investments: 401k, 403b, stock portfolio
Real Estate
etc

---

A

It also helps to be married to a summa cum laude Accounting/Finance type though.

quote:

---

Debt

---

The amount that I do owe is minimal and at an average rate of 1.5%... B

quote:

---

Budgeting

---

I'm on autopilot for the most part... I limit my purchases. I don't have a want for stuff, but the stuff I do own, I want to be really nice... I project my quarterly personal financial statement, income, and cash flow two to three years out... A

quote:

---

Long-term financial planning

---

Tax diversified... Contribute maximum to every account imaginable... Not even close to needing estate planning, but starting to research vertical and horizontal asset segregation and sheltering in trusts... B-

quote:

---

Risk / Insurance

---

My employer takes care of this one for the most part... health/life/short-term/long-term... Should probably get an umbrella... Will need to eventually get long-term care... B+

quote:

---

Investments

---

Need to work on asset allocation... And I still believe that I can beat the market... D

quote:

---

Real Estate

---

Don't own any... Don't want to own someone else's house... Want to build... Missed out on 3% rates... F

Debt B
Budgeting C
Long-term financial planning A
Risk/Insurance A
Investments B+
Real Estate B-
Net worth for age A

Debt: 10/10 as I have zero
Credit: 3/10 as I have no credit history
Investments: 0/10 as I have no investments yet
money management: 5/10 as I have a budget that I'm good at sticking to, but I could do a much better job of keeping records and tracking purchases and expenditures.

Debt: Credit, credit cards, mortgages, auto, etc. - C. I am good with mortgage and auto but have more credit card debt than I would like. Car will be paid for in less than 1 year
Budgeting - B. I am able to make all payments on time and contribute to 401k. Once I kill the CC debt, I would bump this
Long-term financial planning - see below under investments
Risk / Insurance - B+ - great coverage on homeowners and auto that I diligently shopped around for and have life insurance set up so that my wife and son will be taken care of in the event that something were to happen to me.
Investments: 401k, 403b, stock portfolio - B. Have a diversified portfolio and contribute enought to 401k to get company match, along with an IRA from my first job. Also have some RSU's from my previous employer and other shares that I bought through ESPP. Would like to increase my 401k contributions and set up a 529 or other savings vehicle for my infant son in 2014
Real Estate - B+. I bought a great piece of property on short sale that appraised for 20% more than I paid for it in a part of town where home values continue to increase (up and coming neighborhood with great HOA close to good schools). I also had to sell my previous home due to a relocation less than a year after buying it initially but sold it for more than I paid for it and negotiated the heck out of the real estate commission so that I didn't get taken to the cleaners on it.

Overall - I feel like I'm at a B- right now due to the credit card debt, but I think 2014 is the year for me to take control of my finances in a big way. Already making a dent in the CC debt, will pay off my car, and I'm expecting a large tax refund due to birth of a child along with selling a house and paying off all of the interest associated with it given that I had only made 10 mortgage payments before selling. $4000 of PMI was also included in the payoff. Plan on using the bulk of it on the CC debt and investing the rest.