– –GET TING STARTED

Financial empowerment
self-assessment
Take this self-assessment to better understand your own
financial knowledge, skills, and overall confidence.
As someone who helps your organization serve individuals and families, it’s important
for you to understand your own level of financial empowerment. The questions asked
in this assessment are directly related to the module topics contained within the
Your Money, Your Goals toolkit. This tool has three parts:

•to•Part 1: What you know helps you benchmark your knowledge, so you know where
build upon and fill in the missing gaps

•Part 2:lifeHow you feel helps you identify how you feel about your own
•financial
•Part 3:you’re
•services Your experiences helps you understand which financial products and
familiar with and which are new to you

What to do
•If•you
Answer the questions in Part 1 and compare your responses with the answer key.
didn’t answer an item correctly, review the toolkit module listed next to the
answer for more information.

•Answerit’stheabout
•because questions in Part 2. There are no right or wrong answers here
your own financial knowledge, feelings, and situation.

•Answeryou’re
•because the questions in Part 3. There are no right or wrong answers here
identifying your experiences. This is important because the
people you’re working with may have experienced situations or used products
and services you haven’t.

A step further
If parts 1 or 3 of this tool reveal topics you’re not familiar with, take a look at the
relevant modules. This information can help you build knowledge and confidence.

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 SELF-ASSESSMENT

Part 1: What you know.

Decide if each of the following statements is true or false.

STATEMENT TRUE FAL SE

1. Only income and expenses matter when you’re making a budget.

2. To have enough money for an emergency, you must save at least 3 to 6

months’ worth of living expenses.

3. If you make and stick to a monthly budget, you’ll be able to pay your
bills on time.

4. If you can’t pay all of your bills and debt collectors are calling, just pay
the one who calls the most.

5. The only way to receive employment income is a paycheck.

6. Credit is when you owe someone money.

7. Your total monthly debt payments may affect your ability to borrow
more money.

8. A poor credit history can keep you from getting an apartment, and in
some states, insurance or even a job.

9. The only cost of having a checking account is the monthly service fee.

10. As a consumer, you have almost no rights when it comes to

financial products.

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 SELF-ASSESSMENT

Part 2: How you feel... .

Use check marks to show how you feel today about each statement.
Then tally up the total number of check marks in each column at
the bottom.

NOT SURE /
STATEMENT AGREE DISAGREE
DOESN’ T APPLY

1. I have enough money set aside for

emergencies and goals.

2. I am not worried about how much

money I owe.

3. I am confident about how to make

sure the information on my credit
reports is correct.

4. I don’t worry about being able to

pay my bills and expenses.

5. I understand how credit works.

6. I feel confident about helping

people begin to manage financial
challenges.

7. I know where to get help if I have

an issue with a financial product or
service.

8. I know where people in my

community can get financial
counseling and free tax filing
assistance.

TOTAL

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 SELF-ASSESSMENT

Part 3: Your experiences..

Use check marks to show your level of experience with the concept
described in each statement.

STATEMENT YES NO I DON'T KNOW

1. I have a savings or checking account at a

bank or credit union, and I use it regularly.

2. I have applied for, received, and used a

credit card.

3. I have used a loan to help me purchase a car

or a home.

4. I have taken out a payday loan or an auto

title loan.

5. I have requested my own credit report and

reviewed it.

6. I make and stick to a budget.

7. I have used a check cashing business.

8. I have been contacted by debt collectors.

9. I understand my rights and know what to do

if I believe a financial services provider has
tried to take advantage of me.

10. I receive income via a method other than a

paycheck (payroll card, direct deposit, or
cash, for example).

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 Answer key for Part 1: What you know
Check your answers for “Part 1: What you know.” If there are any you're unsure of or that you
answered incorrectly, review the module listed for more information. Reading through the module
can help you build your financial knowledge and confidence.

STATEMENT TRUE FAL SE MODULE

1. Only income and expenses matter when

you’re making a budget.  1 Setting Goals

2. To have enough money for an emergency,

you must save at least 3 to 6 months’ worth
of living expenses.
 2 Saving

3. If you make and stick to a monthly budget, 5 Getting through

you’ll be able to pay your bills on time.  the Month

4. If you can’t pay all of your bills and debt

collectors are calling, just pay the one who
calls the most.
 4 Paying Bills

5. The only way to receive employment 3 

Tracking Income
income is a paycheck.  and Benefits

7 
Understanding Credit
6. Credit is when you owe someone money.  Reports and Scores

7. Your total monthly debt payments may

affect your ability to borrow more money.  6 Dealing with Debt

8. A poor credit history can keep you from

7U
nderstanding Credit
getting an apartment, and in some states,
insurance or even a job.
 Reports and Scores

9. The only cost of having a checking account 8C

hoosing Financial
is the monthly service fee.  Products and Services

10. As a consumer, you have almost no rights 9 

Protecting your
when it comes to financial products.  Money

NUMBER CORREC T TOPIC S TO LE ARN MORE ABOUT

out of 10

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 Answer key for Part 2: How you feel
There are no right or wrong answers for "Part 2: How you feel." The answers are your opinions about
your own financial knowledge, feelings, and situation. Take a look at the total number of statements
with which you agreed and disagreed, at the bottom of the assessment page.

If the total of Agree is greater than the total of Disagree, you feel good about many aspects of
your financial life.

If the total of Disagree is greater than the total of Agree, you may be feeling stress about many
aspects of your financial life.

There are modules in the toolkit you can review that may help you feel more in control of your
financial situation. Take a look at the modules or information that correspond with any statement
with which you disagreed.

STATEMENT IF YOU DISAGREE , CHECK OUT THESE MODULES

1. I have enough money set aside for 1 Setting Goals

emergencies and goals. 2 
Saving

2. I am not worried about how much 6 Dealing with Debt

money I owe. 7U nderstanding Credit Reports and Scores

3. I am confident about how to make

sure the information on my credit 7U
nderstanding Credit Reports and Scores
reports is correct.

4. I don’t worry about being able to 4 Paying Bills

pay my bills and expenses. 5G  etting through the Month

5. I understand how credit works. 7 

Understanding Credit Reports and Scores

6. I feel confident about helping Consider reviewing some or all of the

people begin to manage financial content modules.
challenges.

7. I know where to get help if I have an 9 Protecting your Money

issue with a financial product
or service.

6
 STATEMENT IF YOU DISAGREE , CHECK OUT THESE MODULES

8. I know where people in my See the information in the Your Money, Your
community can get financial Goals Implementation Guide about creating a
counseling and free tax filing strong referral network at consumerfinance.gov/
assistance.
practitioner-resources/your-money-your-goals/
training-implementation. Our online resources could
also be helpful: consumerfinance.gov/practitioner-
resources/your-money-your-goals/online-resources.

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 Answer key for Part 3: Your experiences
There are no right or wrong answers for "Part 3: Your experiences." It helps you identify the financial
products, services, and situations you have had experience with. This is important because the
people you’re working with may have experienced situations or used products and services you
haven’t. If you’re not familiar with some of these topics and want to learn more, you can use the
modules listed in the right column. You may also find it helpful to review those modules even if you
have experience with these situations, products, services, and providers.

STATEMENT MODULES OF INTEREST

1. I have a savings or checking account at a

bank or credit union, and I use it regularly. 8C
hoosing Financial Products and Services

2. I have applied for, received, and used a 6 Dealing with Debt

credit card. 7 Understanding Credit Reports and Scores

3. I have used a loan to help me to purchase a 6 Dealing with Debt

car or a home. 7 
Understanding Credit Reports and Scores
8 Choosing Financial Products and Services

4. I have taken out a payday loan or a vehicle 6 Dealing with Debt

title loan. 8 Choosing Financial Services

5. I have requested my own credit report and

reviewed it. 7 Understanding Credit Reports and Scores

6. I make and stick to a budget. 3 Tracking Income and Benefits

7. I have used a check cashing business.

3 
Tracking Income and Benefits
8 Choosing Financial Products and Services

8. I have been contacted by debt collectors. 6 Dealing with Debt

9. I understand my rights and know what to do

if I believe a financial services provider has 9 Protecting your Money
tried to take advantage of me.

10. I receive income via a method other than a

paycheck (payroll card, direct deposit, or
3 
Tracking Income and Benefits
cash, for example). 8 
Choosing Financial Products and Services

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This tool is included in the Bureau of Consumer Financial Protection’s Your Money, Your Goals: A
financial empowerment toolkit. The Bureau has prepared this material as a resource for the public.
This material is provided for educational and information purposes only. It is not a replacement
for the guidance or advice of an accountant, certified financial advisor, or otherwise qualified
professional. The Bureau is not responsible for the advice or actions of the individuals or entities
from which you received the Bureau educational materials. The Bureau’s educational efforts are
limited to the materials that the Bureau has prepared.

This tool may ask you to provide sensitive information. The Bureau does not collect this information
and is not responsible for how your information may be used if you provide it to others. The Bureau
recommends that you do not include names, account numbers, or other sensitive information and
that users follow their organization’s policies regarding personal information.