11 Questions to Ask Yourself About Money

Questions to Ask Yourself About Money

Money is something that affects us every single day of our lives.

It’s used to pay for our shelter. It’s used to purchase food for our families. It’s used to purchase heat in the winter. It’s used to purchase necessary medical care. The list could go on and on.

For being so important, you’d think we’d devote more time trying to keep it. However, it seems like we regularly devote more time trying to find new ways to spend it.

Due to this interesting paradox, I find it necessary to occasionally sit back and reflect on my financial life. To do this, I ask myself a few questions regarding my current financial health. Each question is very short and is designed to get me thinking about the bigger picture (i.e. keeping my money) again. I also devote some time to research, I look at sites like https://www.creditfix.co.uk/debt-solutions/trust-deed/ for new knowledge and for insights I might otherwise never obtain.

If that sounds like something you’d like to try (and I recommend you do), here are a few questions and some deeper follow-up questions to get you started.

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Questions To Ask Yourself About Money

“Is My Money Being Spent on the Things That Truly Matter to Me?”

Are there items in your budget that could be removed or reduced to help better utilize your income? Does your spending reflect your values?

“What Was The Last Item I Regretted Purchasing?”

Why did you regret purchasing it? What was your mood when you purchased it? Can you implement strategies to avoid making the same mistake again?

“What’s Holding Me Back From Taking Action?”

Why do you fear financial freedom? What’s standing in your way? How can you eliminate that obstacle? If you’re worried about failure, read these stories.

“How Would My Budget Look Without Debt Payments?”

Is a large portion of your income going towards interest payments? What would you do with all of that extra cash flow? Would you save that money and retire early? Would you give it to those less fortunate? How would conversations about money in your house change?

“Am I Listening to the Right People?”

Are you surrounding yourself with good financial influences? Is the advice you’re receiving best for your situation? Does your spouse want nothing to do with the financial issues at hand? Can you get them on board?

“How Can I Improve My Financial Literacy?”

When you’re faced with an issue related to your finances, are you researching solutions or are you just giving up? Are you utilizing your local library to read everything you possibly can about personal finance?

“What’s My True Hourly Wage?”

After commuting costs, time spent getting around for work and clothing expenses, how much are you really making per hour? How can you reduce those extra costs?

“What Can I Do to Increase My Income?”

How long has it been since you asked for a raise a work? Can you take on a part-time job? Do you want to change careers? Do you have a small business idea and the capital to make it happen?

“If I Died Today, Would My Family Be OK?”

Would your family be able to sustain their current standard of living? If not, how can you ensure that they are able to?

“Am I Setting a Good Example For My Children?”

Are you teaching your children good financial values? Do you want your children to have the same issues that you’re currently having? How can you help them avoid your mistakes? If you don’t have children, think about your future children.

“Where Do I Want to Be One Year From Now Financially?”

What steps can you take today to get started on that goal? What’s holding you back? Have you created some SMART financial goals?


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Hopefully these questions sparked some critical thinking regarding your finances.

Are these the only questions you should be asking? Absolutely not. Your questions might be completely different, but just as important to ask yourself.

What questions did you come up with? Is there one question that turned things around for you in the past? Please share in the comments so others can read them!



  1. Ryan @ Impersonal Finance on December 13, 2013 at 9:28 AM

    Seriously thank you for posting this list. I can definitely relate to your feelings on a few of them (We don’t have kids, yet). I’m always looking to read more to improve my financial literacy, increase my income, worrying about my finances if I passed, and mainly trying to stop being afraid. I think the security of a regular paycheck and benefits keeps a lot of people where they are at, rather than where they would want to be. Once I can get myself in a place where I know I will be okay financially no matter what life throws at me… that will be the day.

    • Adam Hagerman on December 13, 2013 at 9:43 AM

      You’re welcome!

      My wife and I don’t have kids either but it’s still beneficial to think about the impressions you would be making on them.

      I’m not sure where I read it, but an author said that we are technically all self-employed now and we should think about of finances in that way. We need to stop thinking that we have a guaranteed paycheck and great benefits. It only contributes to our complacency.

      Thanks for commenting!

  2. Susan on July 14, 2019 at 4:06 AM

    I have some savings and I want to use them to pay for private education for my grandchildren. Is there anything that would stop me doing that please?