.
| When a credit card statement arrives, do you: | |
| a) Open it immediately and pay on time? | .... 1 point |
| b) Open it at a later date and pay on time? | .... 2 points |
| c) Forget about it until you know that ii is overdue? | .... 3 points |
| d) Pay installments only when you are threatened with court actions? | .... 5 points |
| Do you know what the current interest rate is on your mortgage? | |
| a) Yes | .... 1 point |
| b) Correct within 0.5% of the true figure | .... 2 points |
| c) No idea | .... 3 points |
| Do you know what interest rate you are paying monthly on your credit cards? | |
| a) Yes | .... 1 point |
| b) Correct within 0.5% of the true figure | .... 2 points |
| c) No idea | .... 3 points |
| At what multiple of income is your outstanding mortgagee? | |
| a) Less than two | .... 1 point |
| b) Less than three times | .... 2 points |
| c) More than tree times | .... 3 points |
| Is your home, at current market value, worth more or less than you paid for it? | |
| a) More | .... 1 point |
| b) About the same | .... 3 points |
| c) Less | .... 5 points |
| If you rent your home, what proportion of your income covers the rent? | |
| a) Less than 20% | .... 1 point |
| b) 20 to 35% | .... 3 points |
| c) More than 35% | .... 5 points |
| Do you know, without looking it up, to what amount your outstanding debts total? | |
| a) Yes, exactly | .... 1 point |
| b) Within R2 500 of the true figure | .... 2 points |
| c) No idea | .... 3 points |
| How many credit cards do you have? | |
| a) None | .... Zero |
| b) Two or three | .... 2 points |
| c) Four or more | .... 5 points |
| Do you regularly use store cards, without immediately paying off the balance? | |
| a) Never | ... Zero |
| b) Sometimes | .... 2 points |
| c) Yes, regularly | .... 3 points |
| If you have an outstanding balance on one or more store cards, is it: | |
| a) Less than R500? | .... 2 points |
| b) Between R500 and R1 000? | .... 3 points |
| c) More than R1 000? | .... 5 points |
| Have you taken out any new line of credit during the last year (mortgage bond or bank loan, credit card, hire purchase)? | |
| a) Yes | .... 3 points |
| b) From more than one source | .... 5 points |
| Adding up all your debts, including your outstanding mortgage balance, is the total: | |
| a) More than twice your annual income? | .... 1 points |
| b) More than three times your annual income? | .... 3 points |
| c) More than four times your annual income? | .... 5 points |
| Does your bank current account pay interest when in credit? | |
| a) Yes | .... Zero |
| b) No | .... 3 points |
| Do you save money (pension schemes excluded)? | |
| a) Yes, regularly | .... Zero |
| b) Sometimes | .... 3 points |
| c) Never | .... 5 points |
HOW DID YOU SCORE IN THE DEBT QUIZ?
10 to 15 points:
You really do seem to have your
finances under control.
15 to 25 points:
You are drifting into the marginal category of debtors. You need to
tighten control of your finances and pay more attention to where your money is going.
25 to 35 points:
Be careful! You are drifting into the danger zone. Either your
income must rise or your expenditure must fall to avoid the perils of a sudden shock to
your financial system. Beware of going into a debt maze without knowing the way out.
more than 35 points:
You are firmly in the danger zone, but don't panic. By completing
this quiz you are facing up to your situation and that is the first step on the road to
recovery. Remember, your debt situation does not have to be permanent.
