Money Coaching Assessment

For Individuals and Couples

Money Coaching Assessment (for individuals + couples)

In order to hit the ground running + make the best use of our time together, I ask you to complete this assessment. Your answers help me to understand your money history, emotions you have around money, and to see what emotional - mindset blocks may be sabotaging you from meeting your money-life goals.

If you are part of a couple, I ask that you each complete separately.

Your thoughtful reflection is appreciated and I thank you in advance for the time + energy you put into this assessment.

Money Assessment
First
Last

Money Beliefs / History

In this section, ASK your GUT to “fill in the blank.” Don’t use your head. Your money beliefs rule the way you think about money, the practices you bring to money and the emotions you have about money. Beliefs have emotional roots, that is why we want your GUT to respond here…and often what your gut has to say isn’t always rationale…and that is OK.


Cash Flow

Please complete these “True” and “False” Statements together, if you are a couple. This section gives us a picture of behaviors you practice when it comes to your money.

Mail is opened daily and sorted
Bills are paid on time, late payments are rare
Some bills are not paid on time and become debts
I am aware of the relationship between my monthly expenses and monthly income
I make sure that my inflow of money is greater than my outflow of money each month
I know how much money I bring in monthly from my work or other sources
I create a monthly cash flow plan and track against it
I analyze my spending patterns and know my spending triggers
There is room for improvement in how I plan, track and analyze monthly cash flow
I am good at financing my needs before my wants
I plan my month to make sure that throughout the month, money flows easily and I do not suffer cash flow constrictions
My dollars nourish and fund my deepest values

Savings

Saving money is a habit for me
I have investment accounts such as IRA’s, 401K’s, 403B, etc
I have an account just for periodic expenses, a “save to spend” account for things like car repairs, summer camps, holidays, insurances, taxes
I have an emergency fund of 6 months of income easily available in a bank savings account, money market or certificate of deposit
I track my investment portfolio monthly, aware of the ups and downs
I understand the difference between saving and investing
If I don’t have the money for a purchase, I save for it rather than place that expense on a credit card
I have obstacles that keep me from saving money

Earnings

I earn to my full potential and receive market value for my services
I earn enough to live within our means, save for retirement and have money left over to have fun
I love the work we do
I receive raises on an annual basis
Bonus money can be counted on annually
Earning money is something I do very well
Annual raises get gobbled up in expanding lifestyle choices

Insurances

I have adequate auto coverage
I have $___________ term life insurance coverage
Short and Long term disability is in place through employers / individually funded
I have adequate family health insurance
I have umbrella insurance
I have renter’s / home owners / flood / earthquake insurance
I have long term care insurance
I have professional liability insurance
I have annual reviews of all my insurance policies to make sure I get the best rates and coverage that is best for my particular situation
I can locate all our insurance policies
Names of beneficiaries are up to date on policies
I have a written / photographic / video-taped record of household goods

Estate Planning

I have a living will and trust
I have durable power of attorney for health care and finance
I have communicated with loved ones where important paperwork is in case anything happens to us
My living trust documents are current and up to date

Taxes

I have a tax accountant
I am current with federal and state taxes
I am free of liens on our property
I usually receive a yearly tax refund
I have a tax repayment plan in place with the IRS / State
I pay quarterly taxes on time and in full (business owner)
I can easily locate copies of the last 3 years income tax returns

Credit / Debt

I have a relationship with credit where I go into revolving credit card debt, get out and repeat the cycle many times
I check credit card statements against purchase receipts
I pay off my credit card charges the same month the charges are incurred
I check my credit report about every 3-6 months to make sure statements are accurate
I have lists of my credit card numbers and whom to contact in case they are stolen
I know the exact amount of debt I owe
I know the annual amount of interest I pay on each debt
I want to eliminate my debt
My debt limits my life choices
The major reason I use credit cards is to accumulate air miles
I use my credit cards to supplement my earnings, because my earnings don’t cover my regular monthly expenses
I have a past history of bankruptcy
I realize using credit cards can gives me the illusion I have more to spend than I actually do

Goals / Dreams / Communication

I know my financial net worth.
I create yearly goals and figure out how to finance those goals without going into unsecured debt or eating away investments
I have weekly money meetings to discuss cash flow and other family money matters needing attention
I take responsibility for the behaviors (thinking, emotions, actions) I practice that creates my current money picture
I enjoy the details of managing my cash flow
I do what I want in my life regardless of if I can afford it or not
I am good at knowing what my dreams are and trying to achieve them in a balanced way

What are your top three values in order of priority?