1. Having control over day-today, month-to-month finances

Are you able to pay bills on time, is your debt manageable?  Do you manage your bills or do they manage you?  Are you able to make ends meet? 

 2. Having the capacity to absorb a financial shock 

Do you have a financial "cushion" against unexpected expenses and emergencies? Do you have enough savings to last at least 3 months if your income were to stop?

 3. Being on track to meet your financial goals

Do you have any goals you are working towards, like saving for a car or a home? Do you have an adequate savings and protection plan in place for the future and your retirement? 

 4. Having the financial freedom to make choices that allow you to enjoy life 

Can you 'splurge' on yourself or your family once in a while? Are you able to make choices that allow you to do the things you want - such as taking a vacation, enjoying a meal out now and then, or going back to school to pursue an advanced degree?

Source: Consumer Financial Protection Bureau 

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