Our friend, Anisa Virji at Common Sense Living came up with an interesting quiz to measure your approach towards wealth-building, and we thought we should share it with you, our valued readers.

Common sense Living believes that everyone can attain the wealth and success they desire. They adopt pretty much a common sense approach.

So, hope you enjoy taking this quiz, and find it enlightening in the journey of wealth creation and financial freedom.

Read on...

To see if your approach to wealth-building is solid, take the quiz below, answer the questions, and see how you score at the end...

1. You think the best way to become wealthy is...
   a. Have multiple sources of income
   b. Save and invest every rupee of your salary you can
   c. Win the lottery
   d. Rob a bank


2. The best way to grow your money is...
   a. Start or invest in businesses
   b. Invest wisely in stocks
   c. Keep your money in savings accounts and FDs
   d. Stuff your savings in your mattress


3. How do you treat loans?
   a. With great care - loans are toxic.
   b. As necessary, loans can help you build wealth too.
   c. Like most people - I have a home loan, a car loan, and a business loan or two.
   d. The loan officer is my best friend - he just funded my dog's birthday party.
   
   


4. How do you manage debt?
   a. Debt! I am completely debt-free and plan to stay that way.
   b. I have a solid strategy in place to pay off my debt (highest interest rate first).
   c. I can usually scrape together money when I get repayment notices.
   d. I hide under the bed.


5. Do you plan for your financial goals?
   a. I have well-defined long and short-term goals and save and invest accordingly.
   b. I know my next goal, and I'm working towards it.
   b. I know my next goal, and I'm working towards it.
   d. I plan to win the lottery!


6. How do you think of retirement?
   a. I plan to have both passive and active income flow during retirement.
   b. I will live off my various and wise investments.
   c. I set some money away from time to time and hope it will be enough.
   d. I'll never get old! I'm young at heart, after all.


7. If you came into a lot of money, what would you do with the money?
   a. Invest some, save some, put some into my business, give some away, and maybe even treat my family to a holiday.
   b. Pay off my loans and buy a new car for the family.
   c. Keep your money in savings accounts and FDs
   d. Buy a mansion and put chandeliers with real crystal in each room.


8. When you want to buy something expensive, you...
   a. Plan for it, put it in your budget, and wait for sales.
   b. Shop around, find a good price, and get it even if it was unbudgeted.
   c. Get it and figure I'll manage somehow...
   d. Go right out and get the most expensive one. Price equals quality.


9. Do you read about wealth building ideas?
   a. I read a lot of books and blogs. A few of them have been instrumental in my wealth building.
   b. I have read some, but it's all so complicated.
   c. I read the papers and watch the news. Is that enough?
   d. Read? I already know what I need to know.


10. 10. Do you know anybody who's successfully built wealth who could help you on your own journey?
    a. I read wealth coach Mark Ford's ideas and know I'm on my way to wealth.
    b. I have a financial advisor I pay from who tells me where to invest.
    c. My brother-in-law is very good with money. I follow his advice.
    d. I watch Wall Street movies and know exactly how the industry works.

How Did You Do?

If you got mostly As...

You are on a super wealth-building journey. We wouldn't be surprised if you reach your wealth goals within a few years. You understand that to grow wealth you need to do more than invest in stocks. You need to earn more, spend less, and live well without blowing holes in your pockets. You also know you need to do your homework. If you're interested in further reading, click here and get a special free email series that reveals Mark Ford's top 11 wealth secrets.

If you got mostly Bs...

You are on the right track and have some of the habits of wealth builders. But you need to learn more to build your skills and make real progress on the way to wealth. Knowing what to do with money and when is crucial. Every decision you make can bring you closer.

If you got mostly Cs...

You are trying, but you need to know a few things about wealth before you can start to truly build it. You need to put some good money habits in place and design a plan that you can follow. You always have a choice to spend or invest, and every choice you make comes with an 'opportunity cost'. The way you're going, you could end up in financial hot water.

If you got mostly Ds...

We doubt any of the readers would get mostly Ds. But if you are somebody who behaves this way with money, you need to handle hard earned money with care and prudence.

Financial freedom can be yours if you make good decisions. With some training, practice, and dedication, you can do it! Wherever you are in your journey, you're in the right place to learn more.

This article was authored and first published by Common Sense Living – an initiative that brings you straightforward lifestyle and wealth-building ideas from wealth coach Mark Ford.

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