Do you find yourself spending money frequently? Maybe you see your friends spending more money than you do. Are you wondering just how good of a job you are actually doing when it comes to managing your money? If so, here’s a great quiz to help you find out just how well you manage your money and what your money management personality might be!
Keep track of your answers to the following questions and check out your money management personality at the end of the quiz!
Your friends go out to dinner a lot. You usually:
a. Go every time. You love eating out and seeing your friends.
b. Only go one or two days a week.
c. Only go once or twice a month on special occasions.
When you are at the mall with your friends, you:
a. Buy anything you see and want.
b. Buy a completely new outfit.
c. Sometimes treat yourself to a new shirt or shoes.
You now have a credit card. You usually:
a. Swipe it whenever you want, even for a small coffee.
b. Use it to buy clothes and food only.
c. Use it for gas only and cash for any other needs.
The number of days you will go out and socialize each week:
a. Every weekend and sometimes during the week.
b. Usually just two days, but then again, sometimes it’s three.
c. One day a week, if that. You realize it is expensive and there is homework to be done
Whenever you are feeling bored, you:
a. Jump right into your car and go somewhere, not thinking about gas.
b. Sometimes just drive around to unnecessary destinations.
c. Go to the gym or an activity on campus. Gas is expensive and not worth wasting.
When buying textbooks, you:
a. Buy all new.
b. Buy used.
c. Rent them.
Your Money Management personality is…
Mostly A’s: Big Spender!
You really have no concept of saving money at all, and you truly love to spend! But the bad news is, all that spending will eventually will catch up with you. To help manage your money better, destroy (or at least hide) your credit card(s). Also, if you do not have a job, look for a part-time opportunity where you can earn some extra cash to prevent you from running out of money so quickly. This is also a great way to start saving while earning extra cash that you can spend at the same time.
Mostly B’s: Sporadic Shopper
While you can see the importance of saving your money, you still like to indulge at times. Try making a chart for all the times you spend unnecessarily so you can see where you need to stop yourself from spending. This is also the first step in creating a budget. First, find out where your money is going, and then make a plan to better manage it moving forward. You are on the right track, but could use a little nudge in the right direction.
Mostly C’s: Frugal Financier
You truly do see the importance of managing your money. You understand that you must be able to afford the things you buy, or you do not buy them. You also see the importance of doing homework and taking care of your responsibilities rather than continuously socializing, which in turn costs money. You are financially conscious and that is fantastic! Stay on the right track and you will be well your way to a bright financial future.