If you're like most millennials, you're probably feeling the pain of living paycheck to paycheck and wondering how you're ever going to pay off those student loans, much less save for retirement. If this sounds like you, don't despair. Many employers now offer financial literacy tools as part of a benefits package to help you gain control of your finances. If your employer doesn't, you can educate yourself. Financial wellness is defined as the ability to effectively manage your short-term finances while saving money for future goals (e.g., retirement, kids, vacations).

So how do you begin to take control? It helps to first know what you don't know. Take this quiz to discover how financially literate you are.

1. What's a FICO?

a. A type of retirement fund

b. A credit rating scoring system

c. A life insurance policy

2. Who needs life insurance?

a. Only people in poor health

b. People age 65 or older

c. Anyone with dependents (e.g., spouse, kids)

3. How much money should you have in an emergency fund?

a. Enough to cover a month or two of expenses

b. Enough to cover six months of expenses

c. You don't need an emergency fund

4. What's the best way to meet a savings goal?

a. Set aside a defined dollar amount every month into a savings account

b. Save as much as possible when you can

c. Hit up mom and dad for cash

5. You should carry a balance on your credit card to maintain a healthy credit score

a. True

b. False

c. Don't know

Answers:

1. b. FICO is a scoring system used to determine your credit rating. The higher your FICO score, the better your credit.

2. c. Life insurance is necessary to protect your assets and ensure your loved ones receive the financial support they need in the event the unexpected occurs.

3. b. Enough to cover six months or more of living expenses. An emergency fund is necessary should you lose your job, need to pay a large medical bill or incur other necessary expenses.

4. a. Determine how much you want to save and set aside a little money every month to work toward that goal.

5. b. You don't need to keep a balance on your credit card to maintain a good credit score, but you do need to pay off the balance on your card each month to avoid paying interest.