Even as some start to see light at the end of the tunnel in this long bear market, it's still important to make sure your finances are in the best possible shape. Unlike the big financial institutions, which have gotten so much direct support from the federal government, you need to rely on your own prowess in order to make ends meet during a recession.

To figure out whether or not your finances make the grade, I've come up with this financial stress test take the following stress test and see how you do.

1. How much ready cash do you have access to?
Big financial institutions got themselves in trouble by having too much leverage and not enough capital. The bank stress tests done by the Federal Reserve showed that American Express (NYSE: AXP) and Goldman Sachs (NYSE: GS) did a good job of raising capital before the financial crisis hit, while other banks, including Morgan Stanley (NYSE: MS) and Wells Fargo (NYSE: WFC), need to get more capital infusions in order to protect themselves against another economic hit.

Similarly, anything from a job loss to an unexpected home or car repair bill can send your finances into a downward spiral if you're not prepared. That's why it's a good idea to keep at least three to six months' worth of living expenses set aside in an emergency fund.

Scoring: Give yourself one point if you have three months of expenses saved, and two points if you have six months of expenses or more in your emergency fund.

2. Are you saving for retirement?
When times are tough, it's easy to give up setting money aside for retirement. After all, that goal may be decades away, while things that seem much more important have a lot more immediate impact.

But you can't afford not to contribute to retirement accounts like IRAs or 401(k)s. If you have an employer that still makes matching contributions -- something that's becoming more scarce all the time -- you should at least save up to the amount of the match. Beyond that, contributing to a traditional IRA can give you a current tax deduction, while a Roth IRA lets your money grow tax-free.

Give yourself one point for contributing to either your 401(k) or an IRA, and two points if you make contributions to both.

3. Do you have a brokerage account?
Retirement accounts are great, but especially inside 401(k) plans, the investment options they offer aren't always the best. With your own brokerage account, on the other hand, you can invest in a wide range of stocks, funds, and other investments.

The key, though, is not to spend too much on fees and commissions. That's where discount brokers can really make a big difference.

If you've got a discount brokerage account, give yourself two points. If not, take a closer look at what discount brokers have to offer. Continued...