Financial Health Diagnostic | Alexandre Lignos

Question 01

How would you describe your current financial situation regarding debt?

I have a lot of debt and can barely pay the interest. The situation seems out of control. I have some debt, but I manage to make the monthly payments. I have little debt (only planned financing like a mortgage or car loan) and manage it well. I have no debt. I pay all my bills on time and with room to spare.

Question 02

Do you have an emergency fund (money set aside for unexpected events)?

No. Any unexpected expense forces me to take out a loan or use credit. I have something saved, but it is enough for less than 1 month of expenses. Yes, I have 3 to 6 months of expenses saved in an easily accessible account. I have more than 6 months of expenses saved and am already investing beyond the emergency fund.

Question 03

At the end of the month, what usually happens with your money?

I always run out of money before the month ends. I frequently use overdraft or credit cards. I manage to pay all my bills, but almost nothing is left to save. A little is left over, which I usually put into savings or an investment. I save and invest a regular percentage of my income (I pay myself first).

Question 04

Do you have a monthly budget or track where your money goes?

No. I don't know exactly how much I spend or on what. I have a general idea of my fixed expenses, but I don't track variable ones. Yes, I use an app or spreadsheet to track my expenses regularly. I have a detailed budget with goals and review my plan monthly.

Question 05

If you lost your source of income today, how long could you maintain your standard of living?

Less than 1 month. It would be an immediate crisis. 1 to 3 months. I would need to cut expenses quickly. 3 to 12 months. I would have time to reorganize calmly. More than 1 year. I have investments and reserves that would give me great security.

Question 06

Do you have any type of insurance (life, health, home) or financial protection?

I have no protection at all. Any major unexpected event would be devastating. I only have the basic health plan provided by my employer. I have adequate health and life insurance for my needs. I have a complete protection strategy (health, life, home, and private pension).

Question 07

Do you usually pay only the minimum on your credit card, or do you always pay the full balance?

I frequently pay the minimum or carry a revolving balance. The interest is suffocating. I sometimes pay the full amount, but some months I use installments to avoid going negative. I almost always pay the full balance. I rarely put anything unplanned on installments. I always pay the full balance. The card is a convenience tool for me, not a credit line.

Question 08

Do you have a clear financial goal (buying a home, retirement, travel) with a plan to achieve it?

I have no clear financial goals. I can barely pay this month's bills. I have dreams, but no concrete plan for how to achieve them. I have 1 or 2 clear goals and am actively saving toward them. I have multiple short-, medium-, and long-term goals, all with a defined plan and timeline.

Question 09

How would you rate your knowledge of investing and financial education?

Practically none. I have never delved into the subject. Basic. I know savings accounts and maybe a CD, but not much beyond that. Intermediate. I already invest in government bonds, funds, and know variable income. Advanced. I have a diversified portfolio and actively monitor my investments.

Question 10

Do you actively think about your retirement or financial independence?

No. Retirement is very far away and I have more urgent financial problems right now. I think about it, but don't take any concrete action. It stays just a thought. Yes, I have a retirement account or pension and make monthly contributions for the long term. I have a detailed financial independence strategy with a defined target date and amount.

What Is Your Financial Health?