Today's Quordle 279: Clues, hints and answers for October 30

How much have you hiked your monthly contribution towards mutual fund SIPs by this year?
A. I stopped a few SIPs after the poor showing by the stock markets.
B. I didn’t have enough surplus to hike my savings at all this year.
C. I have increased SIP outgo by more than 5% after getting my annual increment.

Are the needs of your dependents secured should you meet with an accident or untimely death?
A. My current earnings will be substituted with adequate life and accident cover through term insurance and accident insurance.
B. My insurance needs are low as my existing financial assets will provide necessary cover for my family.
C. I have not yet taken life or accident cover.

Are you in a position to protect your savings in the event of an extended illness or loss of job?
A. I will dip into my savings whenever the need arises. B I can cover up to 3 months’ worth of expenses with idle cash in my bank.
B. I can cover up to 3 months’ worth of expenses with idle cash in my bank.
C. I have put in place a separate emergency fund covering 3-6 months’ equivalent of expenses.

Do your financial goals and targets reflect your existing personal financial situation?
A. My financial targets are clearly outlined and have been reviewed with every change in personal circumstances.
B. I zeroed in on the financial value for my goals earlier and continue to work towards the fixed target.
C. I have identified my financial goals but have not quantified the required corpus yet.

Are the assets making up your portfolio in the right proportion?
A. I will let the market situation guide my asset allocation.
B. It is too much work, so I will let the asset allocation change on its own as the market evolves.
C. I have brought the asset mix back to its desired level to avoid a skew in my portfolio.

Have you accessed your credit report lately?
A. I regularly request for my credit report and check if my credit history is reflected accurately in it.
B. I pay all credit card dues, utility bills and loans on time, so I don’t need to check my credit report.
C. I will only check my credit score at the time I apply for a loan or credit card.

Have you taken benefit of available tax deductions this financial year?
A. I have not even exhausted the Rs 1.5 lakh limit under Section 80C yet.
B. I have taken benefit of the Sec 80C window and rebate on housing loan interest/HRA.
C. Apart from utilising the Sec 80C limit entirely, I have claimed available deductions on my medical insurance, housing loan interest/HRA and additional deduction on NPS and set off any capital losses against capital gains.

How much of your monthly income is currently flowing towards repaying different loans and credit card dues?
A. Less than 20%
B. Between 20-40%
C. More than 40%

Points
For questions 1,3,5,7
A: 1
B: 2
C: 3

For questions 2,4,6 & 8
A: 3
B: 2
C: 1

Answer key
Score: 20 or higher
Grade: A
How you are doing: You are in good financial fettle. Keep doing the same things to achieve financial security.

Score: Between 14-20
Grade: B
How you are doing: You are doing a few things right, but not so in others. Rectify the mistakes quickly to stay on the right path.

Score: 14 or less
Grade: C
How you are doing: You need to make drastic changes in your approach towards money to avoid financial ruin.