If you like to take quizzes to help you learn more about yourself, you're in luck.
There's a web site called Quizzle that you can sign up for free, answer a few questions, and get a comprehensive report about your finances.
This report includes your Quizzle Score and detailed report on five areas of your finances.
The first section contains your credit score and credit report. Quizzle provides you with free credit score and credit report from Experian. Note that the Experian scale is slightly different from the standard scale and it goes from 360 to 840.
With a click of a button, you can access your Experian credit report, which contains 6 sub-sections: Summary, Open Accounts, Closed Accounts, Negative Accounts, Public Records, and Credit Inquiries. This is your actual, real credit report from Experian, which you can also obtain for free through AnnualCreditReport.com.
As an added bonus, it also has a little reminder to let you know when you can get another free credit report from Experian — note: you are allowed one free report from each credit bureau per year.
If you're a homeowner, this section shows details about your home, purchase history, estimated equity, satellite map of your home, and neighborhood reports. Since I already know the value of my home, the most interesting part of this section was the neighborhood report. I learned a lot about my neighborhood's demographics, race, ethnicity, crime rates, housing statistic, and education statistic. Personally, I was surprised by the crime rates stated the report.
More from GFC, Below
This section gives you a bird's eye view of your budget, in particular, income, expenses, debt, and equity. However, the information in this section is only as good as you make it — specifically, you'll have to enter a lot of data to get good information out of it. Since Quizzle Budget is not as robust as some other budgeting software alternatives. I suggest that you only enter your income so that you can see your debt-to-income ratio.
In this section, Quizzle analyzes your current mortgage and provides you with recommendation to save money by refinancing. If you do not own a home, you can also use the Purchase tool to help you identify mortgage options for your situation.
Since Quizzle is powered by Quicken Loans, these recommendations naturally feature Quicken Loans Products. Although it only pushes one company, I think this information is useful because you can use it for comparison shopping.
Rainy Day Fund
The last section is pertaining to your emergency fund. This section is very straightforward. Quizzle basically recommends that you have 4 months net income worth in your emergency fund.
Also, it's worth noting that each section above comes with two links: “How is this grade calculated?” and “Help Me Improve”. I recommend that you check them out, because they do offer useful information and some practical tips that you can follow to improve each area of your finances.
Pinyo is the owner and primary author of Moolanomy Personal Finance blog. Moolanomy focuses on practical money management concepts, personal finance tips, and wealth building. If you like this article, please visit his blog. Lastly, you can leave financial question on Moolanomy Answers where Pinyo and other community members participate to provide you with answers.