What are Your Values in Money Management?

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All of us make money decisions based on our unique set of beliefs and values. There is no right or wrong in having certain dominant value or values that drive your decision-making process. Your dominant values will also change throughout your life. This short quiz has 20 questions and will give you some insight into why and how you make money decisions the way you do now. 

Quiz Questions

• 1.
  My decision to buy which vehicle to drive comes down to this main issue:

  • A.
    My family members support my decision, and the vehicle will serve all our needs as a family.

    (Correlates to: Social Value ("S"score))
  • B.
    I want a vehicle that is reliable and gets me to where I am going with the least amount of trouble.

    (Correlates to: Inner Self Value ("I" Score))
  • C.
    I will weigh the costs and benefits of each vehicle and choose the one that fits my budget the most.

    (Correlates to: Financial Value ("F" Score))
  • D.
    I make enough money to afford the vehicle I love to drive even if the gas mileage is not great.

    (Correlates to: Physical Value ("P" Score))
• 2.
  One important priority I have in looking for my next home is finding

  • A.
    A place where I can make new friends (and/or my children can find friends and playmates).

    (Correlates to: Social Value ("S"score))
  • B.
    A home in a location where I can enjoy more quiet and privacy.

    (Correlates to: Inner Self Value ("I" Score))
  • C.
    A home in a nice neighbourhood that will appreciate in value.

    (Correlates to: Financial Value ("F" Score))
  • D.
    A home that offers more space, more amenities or more modern features than my present home.

    (Correlates to: Physical Value ("P" Score))
• 3.
  If I were to be late with a payment that will have serious credit consequences, I will worry most about

  • A.
    My reputation and credit score

    (Correlates to: Inner Self Value ("I" Score))
  • B.
    How this mistake could have possibly happened and what I need to do to prevent this from happening again

    (Correlates to: Financial Value ("F" Score))
  • C.
    Where I can get the money needed to make the payment

    (Correlates to: Physical Value ("P" Score))
  • D.
    The impact this might have on my partner or family.

    (Correlates to: Social Value ("S"score))
• 4.
  The fundamental reason for health insurance is, in my opinion,

  • A.
    To prevent bankruptcy or severe financial strain due to medical bills

    (Correlates to: Financial Value ("F" Score))
  • B.
    To protect against loss of home, material things or lifestyle.

    (Correlates to: Physical Value ("P" Score))
  • C.
    To protect the well-being of family and loved ones.

    (Correlates to: Social Value ("S"score))
  • D.
    To be able to enjoy life regardless of major health event

    (Correlates to: Inner Self Value ("I" Score))
• 5.
  When I think about changing jobs, my main concern is

  • A.
    Whether the new job will pay enough so I can cover the costs of my lifestyle

    (Correlates to: Physical Value ("P" Score))
  • B.
    Finding work that allows me to help people and enjoy my colleagues

    (Correlates to: Social Value ("S"score))
  • C.
    The total financial package: pay, health benefits and retirement

    (Correlates to: Financial Value ("F" Score))
  • D.
    Having opportunities for personal fulfillment and challenge in my work.

    (Correlates to: Inner Self Value ("I" Score))
• 6.
  What guides the process of buying and renovating my house is

  • A.
    Does my house fit my lifestyle?

    (Correlates to: Inner Self Value ("I" Score))
  • B.
    Do I have enough to comfortably make a down payment and handle monthly installments without much worry?

    (Correlates to: Financial Value ("F" Score))
  • C.
    Will my house have enough space to create the ambience and accommodate the furniture I want?

    (Correlates to: Physical Value ("P" Score))
  • D.
    Can my house allow my family and I to bring friends over and entertain them?

    (Correlates to: Social Value ("S"score))
• 7.
  When I receive a sudden cash windfall, I will

  • A.
    Consider taking a trip around the world and enjoy myself thoroughly.

    (Correlates to: Inner Self Value ("I" Score))
  • B.
    Analyse investing in different investment tools and their returns

    (Correlates to: Financial Value ("F" Score))
  • C.
    Fund a need, wish or desire of a family member

    (Correlates to: Social Value ("S"score))
  • D.
    Upgrade to a new house with all the amenities I have always wanted

    (Correlates to: Physical Value ("P" Score))
• 8.
  In case of serious accident or illness, my support network is likely to be

  • A.
    Well-established and responsive.

    (Correlates to: Social Value ("S"score))
  • B.
    Not readily accessible.

    (Correlates to: Inner Self Value ("I" Score))
  • C.
    Something I haven't really thought about.

    (Correlates to: Financial Value ("F" Score))
  • D.
    In place but loosely organized.

    (Correlates to: Physical Value ("P" Score))
• 9.
  I plan my retirement based on 

  • A.
    The future needs of my partner, adult children and grandchildren.

    (Correlates to: Social Value ("S"score))
  • B.
    Retirement calculations to give me a benchmark number to target my savings for later life.

    (Correlates to: Financial Value ("F" Score))
  • C.
    My desire to live an intellectually and physically fulfilling life even in old age

    (Correlates to: Inner Self Value ("I" Score))
  • D.
    My desire to live a comfortable lifestyle in a beautiful place and with a pleasant community during retirement.

    (Correlates to: Physical Value ("P" Score))
• 10.
  To feel like I am a successful person, I will need 

  • A.
    To be able to accomplish my dreams and the world sees how they reflect my core being.

    (Correlates to: Inner Self Value ("I" Score))
  • B.
    To know my family is happy and proud of what I do.

    (Correlates to: Social Value ("S"score))
  • C.
    To know that my accomplishments reward me financially and allow me to live a comfortable lifestyle.

    (Correlates to: Financial Value ("F" Score))
  • D.
    To be able to have the means to do whatever I want whenever and wherever I want.

    (Correlates to: Physical Value ("P" Score))
• 11.
  When it comes to “impulse purchases”, 

  • A.
    I reflect on whether I have treated myself lately and then make my decision.

    (Correlates to: Inner Self Value ("I" Score))
  • B.
    I recall the commitments I have made to others and consider if I should buy the item.

    (Correlates to: Social Value ("S"score))
  • C.
    I tend to buy what is on my list unless the item offers serious savings and is something I know will be needed in the future.

    (Correlates to: Financial Value ("F" Score))
  • D.
    I think about how well it will fit with what I already own and enjoy.

    (Correlates to: Physical Value ("P" Score))
• 12.
  The definition of “health” most appropriate for me is

  • A.
    The ability to earn a living and maintain a lifestyle.

    (Correlates to: Physical Value ("P" Score))
  • B.
    Freedom to share the company and affection of others.

    (Correlates to: Social Value ("S"score))
  • C.
    The foundation of financial security and wealth accumulation.

    (Correlates to: Financial Value ("F" Score))
  • D.
    Freedom to pursue my dreams and goals.

    (Correlates to: Inner Self Value ("I" Score))
• 13.
  In making vacation plans, I weigh the value and cost mostly in light of

  • A.
    The opportunity to share the trip with the person (or persons) I care about and enjoy being with.

    (Correlates to: Social Value ("S"score))
  • B.
    The chance to see new places, architectures, cuisines and lifestyles.

    (Correlates to: Physical Value ("P" Score))
  • C.
    Fulfilling my desire to do whatever I please during my vacation.

    (Correlates to: Inner Self Value ("I" Score))
  • D.
    The likelihood that the enjoyment will be well worth my investment.

    (Correlates to: Financial Value ("F" Score))
• 14.
  If I fall in love with a really big-ticket item (e.g. car, furniture suite, electronics) and it is not in my budget,

  • A.
    I will figure out how to adjust my budget so I can afford it.

    (Correlates to: Physical Value ("P" Score))
  • B.
    I will figure out a way to afford something like that in the future.

    (Correlates to: Financial Value ("F" Score))
  • C.
    I might buy on impulse and experience serious “buyer’s remorse” later.

    (Correlates to: Inner Self Value ("I" Score))
  • D.
    If I think it will enhance my family or social life, I will sacrifice to have it, even if it means working extra hours.

    (Correlates to: Social Value ("S"score))
• 15.
  When people look at me, my home and my lifestyle,

  • A.
    They know that family and community are top priority in my life.

    (Correlates to: Social Value ("S"score))
  • B.
    They learn a lot about who I am and what I care about.

    (Correlates to: Inner Self Value ("I" Score))
  • C.
    They cannot tell whether I am financially successful or not.

    (Correlates to: Financial Value ("F" Score))
  • D.
    They know I take pride in looking and feeling good.

    (Correlates to: Physical Value ("P" Score))
• 16.
  In general, I make life's serious, non-financial decisions 

  • A.
    Rationally and unemotionally, like making business decisions.

    (Correlates to: Financial Value ("F" Score))
  • B.
    On the basis if they support a good quality of life. 

    (Correlates to: Physical Value ("P" Score))
  • C.
    After discussing with my family members or friends whom I trust.

    (Correlates to: Social Value ("S"score))
  • D.
    Independently and privately, unlikely to discuss them with others.

    (Correlates to: Inner Self Value ("I" Score))
• 17.
  When I hear the word "security", I automatically think of 

  • A.
    A lifestyle in which I have what I need to be comfortable over the long term.

    (Correlates to: Physical Value ("P" Score))
  • B.
    A diversified and sound investment portfolio and a home that is not mortgaged up to the hilt.

    (Correlates to: Financial Value ("F" Score))
  • C.
    Family and friendship, and a sense of community that will last a lifetime regardless of what happens.

    (Correlates to: Social Value ("S"score))
  • D.
    Having achieved a sense of accomplishment and the freedom to be who I really am.

    (Correlates to: Inner Self Value ("I" Score))
• 18.
  If a home gives me the "freedom" I need, it means that I can

  • A.
    Be independent, coming and going as I please and living my life as I see fit.

    (Correlates to: Inner Self Value ("I" Score))
  • B.
    Share many common interests with family and friends who live close by.

    (Correlates to: Social Value ("S"score))
  • C.
    Pay off my mortgage quickly because I want to own it free and clear as soon as possible.

    (Correlates to: Financial Value ("F" Score))
  • D.
    Make any changes I would like to expand, remodel, improve or redecorate in the future.

    (Correlates to: Physical Value ("P" Score))
• 19.
  In my ideal financial position, I have the freedom to

  • A.
    Live my life independently without worry.

    (Correlates to: Inner Self Value ("I" Score))
  • B.
    Share in the activities my family and friends enjoy without stressing my budget.

    (Correlates to: Social Value ("S"score))
  • C.
    Keep my expenses as low as possible while building financial security for the future.

    (Correlates to: Financial Value ("F" Score))
  • D.
    Buy the things I like most and enjoy a comfortable lifestyle.

    (Correlates to: Physical Value ("P" Score))
• 20.
  In buying health insurance, a major criterion for me is 

  • A.
    Having control over the medical providers I can use.

    (Correlates to: Inner Self Value ("I" Score))
  • B.
    A strong referral by a trusted family member or friend.

    (Correlates to: Social Value ("S"score))
  • C.
    Lower deductible and co-pays for more extensive coverage.

    (Correlates to: Financial Value ("F" Score))
  • D.
    Allowing me to access wellness and preventative care.

    (Correlates to: Physical Value ("P" Score))

Quiz Outcomes

• 1.
  Inner Self Value ("I" Score)

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  If you score high here, you value identity, autonomy, safety and security. Taking charge of your finances can give you the peace of mind that you need in today's economic climate. You also prefer to make your own decisions as a means of self-expression. A low score, on the contrary, suggests that you might see your financial decisions through another person's eyes, perhaps even deferring to his or her expectations about your earning, spending, saving and investment patterns.
• 2.
  Social Value ("S"score)

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  If you score high here, your main concerns involve family needs or preferences of friends. Are you caring for an aging parent, saving your kid's education, or trying to keep pace with an active social circle? Individuals with high "S" scores tend to live and finance a highly social and interactive lifestyles. A low "S" score, on the other hand, might indicate you prefer to live alone, enjoy solitude, and deeply value financial independence.
• 3.
  Physical Value ("P" Score)

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  A high "P" score suggests you value beauty and comfort beyond mere functionality. You want to be able to enjoy a high quality of life. Therefore, wise financial planning will support your endeavours to live a comfortable lifestyle and enjoy all the tangible benefits you value. A very low "P" score might indicate you are always on the go, more interested in experience, rather than environment. You may also be a person who buys what you need, rather than "collects" things.
• 4.
  Financial Value ("F" Score)

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  If you score high here, financial management is very important to you, or you are very inclined to learn to handle your finances effectively. Developing your financial skills will honour this value, and maximise your knowledge and interest in all financial financial matters. If you score low here, you probably make your financial decisions impulsively or subjectively. You might be using money to satisfy your social or physical preferences, which is fine as long as you can afford to do so. Consider as well that you might be neglecting your need to save, invest and spend wisely, because these concerns may not be of high enough value to you.