d i v e r s i t y w o m a n . c o m S u m m e r 2 0 1 4 D I V E R S I T Y W O M A N 35
Kelly's story is not unique. In Novem-
ber 2013, the U.S. personal savings rate
fell to just 4.2 percent, one of the low-
est rates in recent memory, according to
the U.S. Department of
Commerce.
Tis sobering num-
ber (and Kelly's story) shines a light on
the struggle that many of us experience
when it comes to money. Te good news:
Tere is hope. We can all make small
changes to create healthier fnancial lives.
Take this quiz to see just how savvy you
are and learn what you can do to change
dysfunctional money patterns.
By Katie Morell
M
att Kelly knows a
thing or two about f-
nancial stress. He and
his wife married in the
mid-1990s and proceed-
ed to try to keep up with their friends by
regularly dropping $200 on dinners and
drinks when getting together with them
in their Chicago neighborhood. Te prob-
Financial Fitness Quiz
Six questions to test your money savvy
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lem? Combined, the couple was making
around $80,000 per year. Add in a high-
cost mortgage and pretty soon they were
in debt.
Tey decided to start
over—fnancially and
geographically—by sell-
ing their Chicago condo and moving into a
small apartment in Colorado. It took years
to get their debt (more than $160,000)
paid down, but with discipline, they did
it and today are living frugally and fnally
saving money. Kelly even started his own
fnance company: Momentum Personal
Finance Coaching in Durango, Colorado.
Katie Morell is a San Francisco–based
independent journalist who specializes in
business, travel, and human-interest topics.
Read more of her work at katiemorell.com.