What are Your Values in Money Management?

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. 

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

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


I want a vehicle that is reliable and gets me to where I am going with the least amount of trouble.


I will weigh the costs and benefits of each vehicle and choose the one that fits my budget the most.


I make enough money to afford the vehicle I love to drive even if the gas mileage is not great.


1 / 20

One important priority I have in looking for my next home is finding

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


A home in a location where I can enjoy more quiet and privacy.


A home in a nice neighbourhood that will appreciate in value.


A home that offers more space, more amenities or more modern features than my present home.


2 / 20

If I were to be late with a payment that will have serious credit consequences, I will worry most about

My reputation and credit score


How this mistake could have possibly happened and what I need to do to prevent this from happening again


Where I can get the money needed to make the payment


The impact this might have on my partner or family.


3 / 20

The fundamental reason for health insurance is, in my opinion,

To prevent bankruptcy or severe financial strain due to medical bills


To protect against loss of home, material things or lifestyle.


To protect the well-being of family and loved ones.


To be able to enjoy life regardless of major health event


4 / 20

When I think about changing jobs, my main concern is

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


Finding work that allows me to help people and enjoy my colleagues


The total financial package: pay, health benefits and retirement


Having opportunities for personal fulfillment and challenge in my work.


5 / 20

What guides the process of buying and renovating my house is

Does my house fit my lifestyle?


Do I have enough to comfortably make a down payment and handle monthly installments without much worry?


Will my house have enough space to create the ambience and accommodate the furniture I want?


Can my house allow my family and I to bring friends over and entertain them?


6 / 20

When I receive a sudden cash windfall, I will

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


Analyse investing in different investment tools and their returns


Fund a need, wish or desire of a family member


Upgrade to a new house with all the amenities I have always wanted


7 / 20

In case of serious accident or illness, my support network is likely to be

Well-established and responsive.


Not readily accessible.


Something I haven't really thought about.


In place but loosely organized.


8 / 20

I plan my retirement based on 

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


Retirement calculations to give me a benchmark number to target my savings for later life.


My desire to live an intellectually and physically fulfilling life even in old age


My desire to live a comfortable lifestyle in a beautiful place and with a pleasant community during retirement.


9 / 20

To feel like I am a successful person, I will need 

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


To know my family is happy and proud of what I do.


To know that my accomplishments reward me financially and allow me to live a comfortable lifestyle.


To be able to have the means to do whatever I want whenever and wherever I want.


10 / 20

When it comes to “impulse purchases”, 

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


I recall the commitments I have made to others and consider if I should buy the item.


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.


I think about how well it will fit with what I already own and enjoy.


11 / 20

The definition of “health” most appropriate for me is

The ability to earn a living and maintain a lifestyle.


Freedom to share the company and affection of others.


The foundation of financial security and wealth accumulation.


Freedom to pursue my dreams and goals.


12 / 20

In making vacation plans, I weigh the value and cost mostly in light of

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


The chance to see new places, architectures, cuisines and lifestyles.


Fulfilling my desire to do whatever I please during my vacation.


The likelihood that the enjoyment will be well worth my investment.


13 / 20

If I fall in love with a really big-ticket item (e.g. car, furniture suite, electronics) and it is not in my budget,

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


I will figure out a way to afford something like that in the future.


I might buy on impulse and experience serious “buyer’s remorse” later.


If I think it will enhance my family or social life, I will sacrifice to have it, even if it means working extra hours.


14 / 20

When people look at me, my home and my lifestyle,

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


They learn a lot about who I am and what I care about.


They cannot tell whether I am financially successful or not.


They know I take pride in looking and feeling good.


15 / 20

In general, I make life's serious, non-financial decisions 

Rationally and unemotionally, like making business decisions.


On the basis if they support a good quality of life. 


After discussing with my family members or friends whom I trust.


Independently and privately, unlikely to discuss them with others.


16 / 20

When I hear the word "security", I automatically think of 

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


A diversified and sound investment portfolio and a home that is not mortgaged up to the hilt.


Family and friendship, and a sense of community that will last a lifetime regardless of what happens.


Having achieved a sense of accomplishment and the freedom to be who I really am.


17 / 20

If a home gives me the "freedom" I need, it means that I can

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


Share many common interests with family and friends who live close by.


Pay off my mortgage quickly because I want to own it free and clear as soon as possible.


Make any changes I would like to expand, remodel, improve or redecorate in the future.


18 / 20

In my ideal financial position, I have the freedom to

Live my life independently without worry.


Share in the activities my family and friends enjoy without stressing my budget.


Keep my expenses as low as possible while building financial security for the future.


Buy the things I like most and enjoy a comfortable lifestyle.


19 / 20

In buying health insurance, a major criterion for me is 

Having control over the medical providers I can use.


A strong referral by a trusted family member or friend.


Lower deductible and co-pays for more extensive coverage.


Allowing me to access wellness and preventative care.


20 / 20

Inner Self Value ("I" Score)

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.

Social Value ("S"score)

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.

Physical Value ("P" Score)

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.

Financial Value ("F" Score)

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.