What's Your Money Personality?
Quiz

  1. Which scenario best describes your spending style?

    A) I don’t like to spend lots of money. I sometimes put off buying things I need, just because I don’t want to spend the money, although I do have it.
    B) I like to shop and I enjoy having nice things. I buy what I want, when I want it. If I don’t have the money for something I really want, I will put it on my credit card.
    C) I don’t care either way about spending money or not. But when I do spend money, I hope I have the money in my account to cover the expense. I rarely balance my checking account.
    D) I buy what I need although I may get tempted by things that I want. I have a clear understanding of what I need to buy and what I may have to wait or save for in order to buy.
    E) My parents and/or family buy me whatever I need or want. Since it’s their money, I don’t have too many worries about how much money I’m spending.

  2. Which scenario best describes your saving style?

    A) I hold on to my money and am always putting something away for a rainy day.  I am often afraid of not having enough money and will go without things I like in order to  keep my money.
    B) I make money and then spend it. Saving is a good idea but buying things I want is a  better one.
    C) I don't think about money enough to have a savings plan.
    D) I save the same amount every month based on my monthly budget.
    E) I don't have to worry about saving because my family and/or parents support me.

  3. What part does money play in your relationships?

    A) When dining out with friends, I pay for exactly what I spend and not a penny more. I  am not known for loaning money freely. I have been referred to as "tight with money" by  loved ones.
    B) I often buy extravagant gifts for loved ones whether I can afford it or not. Family  members have commented on my "shopping habit" and "expensive taste".
    C) Money is not a topic of discussion with friends and/or family. I prefer to talk about  other things rather than talk about money and material things. Talking about money either  bores me or it makes me stressed.
    D) I am known as responsible with money. People may ask me for advice on  budgeting and saving. I am very honest with loved ones about whether I can afford an  item or an activity.
    E) My parents could be considered my ATM machine. I withdraw what I need, when I  need it.

  4. How would you describe your bills and/or debts?

    A) I only have one bill, my cell phone bill. I have the cheapest package available even  though I would like to use a few more minutes and have extra services.
    B) My cell phone bill is a little expensive but I want the most up-to-date phone with all  the extras (unlimited minutes, text messaging, special ringtones, etc.). I have a couple of  credit cards bills and they are all close to maxed out.
    C) I have a cell phone bill and one credit card bill. Sometimes I miss paying on time  because I have more important things to think about than my bills.
    D) I have a budget that details all of my monthly expenses. I am current on my bills and I  don't have any debt. If I charge something, I pay it completely off  when the bill comes.
    E) When my cell phone bill comes, I tell my parents and they cover the bill. My parents  pay my credit card bill every month too.

  5. Planning for Future Financial Goals

    A) Saving money and having it stashed away for later makes me feel comfortable.  I don't have any definite plans for spending the money, I just like to have it there as a  cushion.
    B) There are plenty of things I want to buy in the future. I just figure I'll buy  whatever I want as the money rolls in. Or I'll charge the items.
    C) I don't think about money and the future. When I think about my future I think about  other things like the effect I want to have on the world, my ideal career or trips I want to  take with my friends.
    D) I have developed a detailed financial plan based on my goals for the future. I have a  monthly budget, a savings plan, and a list of future purchases with dates of when I can  make the purchases.
    E) I figure if I want to buy something a year from now, I'll ask my parents to get it for  me.

Knowing your money personality helps you better understand your tendencies with money. You are able to better understand your strengths and areas for improvement. This knowledge assists you in developing a relationship with money that works to your benefit.

Read the descriptions below to get an understanding of your relationship with money.

A) Saver/Hoarder

saver hoarder

As a saver/hoarder, you value having money saved away for a rainy day. Your strength is that you may be an excellent saver and good at finding the most economical deals. You probably have what you need to survive, plus some. However, this hoarding of money may come from a fear of never having enough.

The downside of being a saver/hoarder is that you may carry the penny-pinching too far and never enjoy what you’ve earned. Make a budget for yourself that covers all your expenses, includes your savings plan, and gives you a set amount of spending money to enjoy.

Knowing your money personality helps you better understand your tendencies with money. You are able to better understand your strengths and areas for improvement. This knowledge assists you in developing a relationship with money that works to your benefit.

Read the descriptions below to get an understanding of your relationship with money.

B) Spender/Striver

spender striver

As a spender/striver, you value buying and doing the things that you want. These items or activities may equal success to you. Your strength may be that you are very ambitious and usually will earn enough money to buy many of the things that you want.

The downside of being a spender/striver is that you may go overboard with your spending and accumulate huge amounts of debt. You should determine your financial priorities first (i.e. purchasing books, paying bills, etc.) and then fit your spending into this plan.

Knowing your money personality helps you better understand your tendencies with money. You are able to better understand your strengths and areas for improvement. This knowledge assists you in developing a relationship with money that works to your benefit.

Read the descriptions below to get an understanding of your relationship with money.

C) Avoider

avoider

As an avoider, you do not bother dealing with money on a regular basis. You may not care about money or you could be afraid, confused or intimidated by it. Your strength is that you are not consumed with money and you focus on other areas of your life.<

The downside of being an avoider is that you may have bad financial habits and no financial goals. You may miss bill payments often or bounce checks due to lack of attention to your money. This may result in late fees and bad credit. Use set-it-and-forget-it strategies like automatic bill payments or automatic savings withdrawals. Look at money as a “tool” to help you accomplish all the other things that are important to you.

Knowing your money personality helps you better understand your tendencies with money. You are able to better understand your strengths and areas for improvement. This knowledge assists you in developing a relationship with money that works to your benefit.

Read the descriptions below to get an understanding of your relationship with money.

D)  and E) Coaster

Coaster

As a coaster, you are in one of two situations:
Letter D: You do not have any money crises because you have a set plan and strategies for handling your money wisely. Your strength is that you are responsible and organized. The downside is that you may become comfortable with the status quo and could be missing out on the opportunity for greater prosperity. Review your finances regularly to see if you can make smarter money choices (i.e. a savings account with higher interest rates).

Letter E: Your finances are handled by a family member and you do not have to deal with money. The strength in your situation is that you do not have to worry about money and can focus on other areas of your life. The downside is that you have no responsibility and are not learning the skills you will need as an adult to do well financially. You could try to take on more responsibility such as getting a monthly allowance you must budget and use to cover your expenses.

Knowing your money personality helps you better understand your tendencies with money. You are able to better understand your strengths and areas for improvement. This knowledge assists you in developing a relationship with money that works to your benefit.

Read the descriptions below to get an understanding of your relationship with money.

E) Coaster