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Course: Financial Literacy > Unit 4
Lesson 1: Money personalityMoney personality
Figuring out your money personality means learning how you feel about saving, spending, and growing your money. Knowing your money personality helps you make better financial choices that are right for you.
What is money personality?
Your money personality is a representation of your attitudes and habits when it comes to dealing with money. Understanding your money personality can help you make better financial decisions and reach your financial goals.
How do I determine my money personality?
Do you tend to save money, or do you spend it as soon as you get it? Your money personality has something to do with how you answered that question. Money personalities can be described in a few different ways. Some people are savers—they put money away and think about long-term goals. Other people are spenders—they love to buy things and might not be as good at saving. There are also investors, and balanced money personalities. Do you know your money personality?
Take a quiz below, and let's figure it out!
Money personality quiz
Answer each question with A, B, C, or D, and keep track of your choices.
1. When you receive money as a gift, you are most likely to...
A) spend it right away on something you want.
B) save it for something you need.
C) invest it or donate it to a good cause.
D) split it between spending, saving, investing, and donating.
B) save it for something you need.
C) invest it or donate it to a good cause.
D) split it between spending, saving, investing, and donating.
2. When you are shopping, you are most likely to...
A) buy whatever catches your eye, regardless of the price or quality.
B) compare prices and quality, and look for discounts and deals.
C) avoid shopping unless it is absolutely necessary, and buy only the essentials.
D) have a budget and a shopping list, and stick to them.
B) compare prices and quality, and look for discounts and deals.
C) avoid shopping unless it is absolutely necessary, and buy only the essentials.
D) have a budget and a shopping list, and stick to them.
3. When you have a financial goal, you are most likely to...
A) forget about it or give up on it if it takes too long or requires too much effort.
B) work hard and save diligently, even if it means sacrificing other things.
C) seek advice and guidance from experts or mentors, and follow their recommendations.
D) plan and track your progress, and reward yourself for reaching milestones.
B) work hard and save diligently, even if it means sacrificing other things.
C) seek advice and guidance from experts or mentors, and follow their recommendations.
D) plan and track your progress, and reward yourself for reaching milestones.
4. When you face a financial challenge, you are most likely to...
A) ignore it or hope it goes away, and continue spending as usual.
B) cut back on your expenses and look for ways to increase your income.
C) ask for help from your family, friends, or professionals, and accept their support.
D) analyze the situation and come up with a realistic and flexible solution.
B) cut back on your expenses and look for ways to increase your income.
C) ask for help from your family, friends, or professionals, and accept their support.
D) analyze the situation and come up with a realistic and flexible solution.
5. When you think about your financial future, you are most likely to...
A) live in the moment and not worry about tomorrow.
B) have a clear vision and a detailed plan for achieving your goals.
C) be optimistic and confident that things will work out for the best.
D) be cautious and prepared for any possible risks or opportunities.
B) have a clear vision and a detailed plan for achieving your goals.
C) be optimistic and confident that things will work out for the best.
D) be cautious and prepared for any possible risks or opportunities.
Scoring and results
For each question, give yourself the following points for each answer:
A:
B:
C:
D:
B:
C:
D:
Add up your points and find your money personality profile below.
| Total | Personality | Characteristics |
|---|---|---|
| Spender | You enjoy spending money and living in the moment, but you may have trouble saving or planning for the future. You may also struggle with debt or impulse buying. | |
| Balancer | You are good at managing your money and making smart decisions, but you may also be prone to stress or indecision. You may miss out on some opportunities or experiences because of your cautiousness. | |
| Saver | You are excellent at saving money and reaching your goals, but you may also be too frugal or rigid. You may neglect your present needs or wants, or have difficulty sharing or spending your money. | |
| Investor | You are savvy and strategic with your money, and you seek to grow your wealth and make a positive impact. You may also be adventurous and willing to take risks, but you may be too optimistic or overconfident, and ignore some of your basic needs. |
Want to join the conversation?
I got balancer, very accurate!(10 votes)
Very well done! However, this comment belongs in the "Tips and Thanks" section of this page.
Great job though!(4 votes)
- I got an 11 which is a balancer but I really think I'm more of a spender.(8 votes)
I got 14 I need to be 20 - 25 please help me learn to become one.(4 votes)
This is a personality test. The score tells you something about your personality. Don't make it into a performance thing.(7 votes)
i got investor but i don't feel like that is right, i feel more like i match the personality of a balancer(6 votes)
I'm 17 I'm a saver!(5 votes)- Same here! Same score and everything!(2 votes)
i got 15 guess im a saver which is true(4 votes)- what does money personality effect ? when trying to keep your credit score decent ?(3 votes)
- If you are a spender, and you want to keep your credit score decent, you should get your credit limit on your cards reduced to the minimum to prevent you from overspending.(3 votes)
- i got 25, investor.(4 votes)
Turns out I'm an investor.
But, how do I invest? I'm only 13, and I live in a very easy, comfortable life, where I don't worry about money much at all; my parents have me covered in pretty much everything, and don't make me pay back money I borrow from them. I really want to take my financial freedom a step further. Are there any beginner ways to invest?
Thanks in advance!(2 votes)- Consider that you are too young to have to worry, or even to think, about this. Enjoy, for now, being 13. Enjoy the fact that you are fed, housed, clothed, insured and even funded by loving parents. Love them back. Consider building financial freedom only AFTER you have paid back your college loans.(3 votes)