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Conquer your finances one question at a time! Keep moving forward with Chase Slate, the card designed to help you spend with confidence.

If You Get 9/9 On This Quiz, You’re Probably Really Good With Money

"In general, you should strive to save at least 15% of your income per month," says Mical Jeanlys, General Manager of the Chase Slate credit card. "Consider setting up a direct deposit of 15% of your paycheck into your savings account to make the process as seamless as possible." However, if 15% of your income isn't realistic, Jeanlys says to "pick a savings amount that works with your budget." Even $25 a month will start to add up in the long run!

You should be trying to save 15% of your income per month.

How much of your income should you be trying to save per month?

Your “take-home pay” is the amount of money you make after subtracting federal income tax, Social Security and Medicare contributions, any state or local income taxes, monthly health and dental insurance premiums, and 401(k) contributions. Knowing your take-home pay is incredibly important for budgeting — you want to make a budget with the money you actually bring home, not your total income.

Take-home pay is your monthly income minus taxes and other obligations.

"An emergency fund typically includes enough to cover three to six months of expenses," according to Jeanlys. If you can cover more than that, great! If not, get to saving. "Focus on costs, not income," Jeanlys advises. "All you need is a barebones calculation of items you absolutely need to pay. Start by determining how much you really need to get through a crisis and start putting away a little at a time to save toward that goal."

Your emergency fund should be able to cover AT LEAST three to six months of expenses.

Your emergency fund should be able to cover AT LEAST \_\_\_  
months of expenses.

Your credit score is a measure of your credit worthiness and is calculated based on the information on your credit report. A good credit score is an indication that you are financially responsible and have a good track record of paying bills on time.

A credit score is a measure of your credit worthiness.

Your FICO® Score can range from 300–850. The FICO® ranges are POOR: 300–579, FAIR: 580–669, GOOD: 670–739, VERY GOOD: 740–799, and EXCEPTIONAL: 800+.

The FICO® Score range for a VERY GOOD credit score is 740–799.

Which number is considered a VERY GOOD credit score?

Your credit history can affect more than just your ability to get a loan. Property rental agencies, mobile phone companies, insurance companies, and employers can all use your credit report as well.

Landlords, insurance companies, and employers can all use your credit report.

"Soft inquiries occur when you check your own credit report, when your credit report is checked as part of a background check, or when a financial institution administers a pre-approved credit card/loan offer," says Jeanlys. "Soft inquiries do not negatively impact the score — so you should check your credit score regularly to stay on top of your credit health."

A "soft inquiry" is a type of credit check.

Fixed expenses are regular bills that cannot be easily changed like rent, student loan payments, or monthly insurance premiums. They’re the bills you need to prioritize when creating a budget. Flexible expenses are more discretionary and are likely to change from month to month.

A fixed expense is a regular expense that stays the same from month to month.

The avalanche method is a popular (and financially optimal!) way to pay down debt. In the avalanche method, debts are paid down in order of interest rate, with debt that carries the highest interest rate being paid down first.

The avalanche method is a strategy for paying down debt.

Real talk: It seems like money talk scares you. Which is totally understandable! Money can be scary! But knowledge is power. Try setting aside time this month to [brush up on the budget basics](http://buzzfeed.com/chaseslate/financial-upgrades-that-will-make-you-feel-like-a-real) and [start learning about credit](https://www.buzzfeed.com/chaseslate/heres-everything-youve-ever-wondered-about-credit-but-were) — your future, financially empowered self will thank you.

You Could Be Better With Money

Let’s be honest: You know the basics, but there’s still a lot more you could learn. It’s time to take control! If you don’t have a grown-up financial habits, [start upgrading](http://buzzfeed.com/chaseslate/financial-upgrades-that-will-make-you-feel-like-a-real). If you don’t understand credit, [educate yourself](https://www.buzzfeed.com/chaseslate/heres-everything-youve-ever-wondered-about-credit-but-were). Your future, financially empowered self will thank you!

You're On Your Way to Being Good With Money

Real talk: You don’t seem freaked out by money at all! You’ve taken the time to learn the basics. You likely have a budget in place. You probably even know your credit score. Instead of making big changes, consider smaller ones: Are you using the right credit card for your financial goals? Could you be saving more? There’s always [room for improvement](http://buzzfeed.com/chaseslate/financial-upgrades-that-will-make-you-feel-like-a-real)!

You're Probably Really Good With Money

All facts provided by Chase Slate.

All images Lauren Zaser / © BuzzFeed

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If You Get 9/9 On This Quiz, You’re Probably Really Good With Money

Learn how to spend with confidence! Enjoy insights and credit management tools with Chase Slate, the card designed to help you keep moving forward.

View this video on YouTube

If You Get 9/9 On This Quiz, You’re Probably Really Good With Money

Learn how to spend with confidence! Enjoy insights and credit management tools with Chase Slate, the card designed to help you keep moving forward.

View this video on YouTube

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