Okay, just for fun here is a quick 5 question quiz to help you determine your money personality. There are 5 major personalities. Keep track of your answers and see who you are at the bottom of the page!
You really need a new purse. Will you:
A – Buy that trendy purse you have been wanting, you need one anyway
B – Stay away from it, you don’t need a new purse
C – Buy the first one you see and then realize that it isn’t what you wanted
D – Pick something out, it doesn’t matter how much it costs and you don’t really care what it looks like
E – Buy it, but you fret over the amount of money you spend
The neighbor just got a new car. You are still using a clunker that has been having problems lately. You:
A – Buy the same car with a few “extras”
B – Keep driving your old car until it dies on the road
C – Buy a car, and the matching stroller and those new hubcaps look pretty neat too
D – Buy that car you have been wanting since you were 16
E – Buy the cheapest reliable car you can find
You go to the mall and you:
A – Purchase that new cell phone that you just saw on TV
B – Stay away from the stores, you don’t need anything right now
C – Can’t find anything you want or need so you grab a shirt that looks okay and a shake in the food court. You don’t want to leave with nothing
D – Buy everything you need or want. You don’t want to think about it until you get the bill.
E – Just window shop. You want to buy stuff, but you would rather save up for something bigger
You get your bank statement in the mail. Do you:
A – Throw it away without looking at it
B – Look closely at your new savings account balance to see if it has gone up
C – Throw it away, balance it, compare it to next month – it depends on your mood when you open the envelope
D – Cry
E – Try to figure out exactly how much longer you have until you can retire on the interest alone
You decide to start investing. You:
A – Purchase a stock that the news said just came out with big earnings
B – Purchase bonds
C – Get a few things here and there, some stocks, some bonds, whatever pops in your head
D – What, investing?? I definitely did not decide to start investing, this question is just wrong
E – Research portfolio diversification and set up a system that will allow you to retire early
Do you have more A, B, C, D, or E’s? Here is your money personality:
A – Big Spender – You “don’t keep up with the Joneses, you are the Joneses!” You tend to take large risks and stay trendy and buy the “new” gadgets.
B – Saver – You are conservative. You don’t take big investment risks, you like looking at interest rates, you can be viewed as “cheap”. You seldom use a credit card and hardly ever follow trends.
C – Shopper – You like the thrill of the hunt. You are concerned with the debt it causes, but feel like it is out of your control. Shopping entertains you and you love when you get a good deal (even if it is something you do not need)
D – Debtor – You don’t like to think about finance. You don’t particularly like shopping, but it is necessary and you buy the things you need. You go in debt with items that you would consider basic necessities. You can’t invest because all of your money goes to the things that you have to have.
E – Investor – You are always thinking about the future. Everything you buy is thought of as “how much will this be in 10 years?” You love to invest and are always looking for the allocation that will bring you the greatest returns.