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Personal Finance Health Check Exercises

13 minPRO
5/6

Key Takeaways

  • True DTI is typically 5-10% higher than lender-calculated DTI — include all obligations.
  • A 12-month cash flow projection reveals seasonal patterns and potential shortfalls.
  • Stress testing with three simultaneous adverse events reveals true financial resilience.
  • A written Financial Policy Statement creates discipline during emotional decision moments.
  • Complete these exercises with actual financial data, not estimates, for maximum value.
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Test Your Knowledge

1.What three adverse scenarios should be modeled simultaneously in a stress test?

2.What is the purpose of a written Financial Policy Statement?

3.Why is true DTI often higher than lender-calculated DTI?

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