What’s your money personality?

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Quiz Questions

1.
My approach when it comes to life and money is...
- A.
  I generally live in the now, the rest generally works out
- B.
  I believe spending money can be wasteful
- C.
  I get really confused about what to do with my money
- D.
  Money is easy
2.
My approach when I head to the shops is...
- A.
  I usually get overwhelmed going to the shops, so avoid it like the plague
- B.
  I won’t waste my money on poor quality things
- C.
  I don't buy things unless I really need them
- D.
  I enjoy buying things as rewards for my hard work
3.
My approach when it comes to budgeting is...
- A.
  It’s important to invest and grow wealth for the future
- B.
  I have no idea where to start with a money plan
- C.
  I have a savings plan and long term goals
- D.
  I have no set plan for key money decisions, but it sounds like a good idea
4.
My thoughts on taking on debts...
- A.
  Debt should be avoided unless it’s for something big, like a house
- B.
  Okay if I can afford the repayments, and it helps me have a better life
- C.
  You’ve got to spend money to make money. It’s just a part of life
- D.
  No, not comfortable unless the risks are really low. I consider it thoroughly before committing
5.
My approach when it comes to day to day household costs...
- A.
  I’m not sure what our household costs are
- B.
  The insurance companies are ripping us off, so it’s important to review costs annually
- C.
  Only buy ‘the best’, poor quality isn’t worth it
- D.
  I like to review household costs regularly, to try and reduce them
6.
My approach when I head to the shops is...
- A.
  Op-shopping is the only way to go
- B.
  I would only go to the shops with a clear idea of what I need to buy and how much I'm willing to pay
- C.
  I don't have a budget when I leave the house
- D.
  Love buying things to treat myself and my loved ones. Not a big fan of second hand.
7.
Using afterpay services...
- A.
  What is afterpay?
- B.
  Afterpay is handy to help me budget while I'm out and about
- C.
  Afterpay should never be used for everyday things
- D.
  Why bother, I pay on credit card
8.
My approach when deciding whether to buy something…
- A.
  I make decisions based less on cost, and more on the benefit I will receive from the purchase
- B.
  I find it difficult to make big money decisions. Easier to ignore and let it go away
- C.
  I like to be in charge of making big purchases
- D.
  I like to weigh up the long-term benefits of my purchases. Do I really need it?
9.
When I think about my long term approach to money…
- A.
  It’s all about what you can do right now
- B.
  I’ve been meaning to think about long term goals, but I never manage to find the time
- C.
  A long-term savings plan is essential
- D.
  I see things in terms of life experiences, not money
10.
When I think about my money, the following is most true…
- A.
  I don’t really enjoy buying things
- B.
  I love to buy things that make me and my loved ones feel good
- C.
  I’m working on generating new income all the time
- D.
  I pay a lot of attention to how much things cost
11.
When I think about my money, the following is most true…
- A.
  I don’t really worry about money on a daily basis
- B.
  Stable employment and income is really important
- C.
  I’m not sure how to make the right money decisions
- D.
  I’ve just got to keep moving forward in my money journey
12.
When I think about my money, the following is most true…
- A.
  I won’t need to worry too much about the future if I stick to my plan
- B.
  Making no decision is the worst decision. I like to have a go. No pain, no gain. No risk, no reward.
- C.
  I’m worried I’ll make the wrong decision
- D.
  I worry about my future and not being savvy with my money
13.
When I think about my money, the following is most true…
- A.
  I need to do loads of research to educate myself on money matters
- B.
  I think that my close ones would think I am a good example with how I manage my money
- C.
  I worry that I’m not a great example for my kids and friends when it comes to money
- D.
  I’m pretty happy with my money capabilities

Quiz Outcomes

1.
Spender
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You’re a Spender Living in the moment!As a Spender, you...Like to live in the now and get the most out of life as it is. Today!Don’t worry too much about the future or the past. Everything just seems to work out.Have a deep connection to family and relationships, rather than the value of money.Are usually quite generous and will help a friend in need.Watch out for...Not prioritising forming good money habits. They don’t happen naturally, you know. Overspending on things that don’t align to your core values.Guilt and shame if not reaching or contributing to financial goals. Tell the truth, do you often decide you want something the moment you see it, and check your account balance (to see if you can pay for it) at the point of sale. Avoiding conversations around money, as they may feel difficult or uncomfortable. Work on these thingsAcknowledge where you need help to develop better money habits.Prioritise and automate spending and saving. For example, have a set amount for weekly spending, prioritise a guilt-free spending account, and put savings away first.Spend some time working out what your longer-term goals are, and plan on how to achieve them.Make it difficult to spend more money than you planned to.Open communication and values-based conversations work well for you, as you are more motivated by life, family and relationships than money.RelationshipsNow, if you’re in a relationship see if your partner will take the quiz! Knowing each other's money personality will help you recognise how you can best support each other, and get on the same page when it comes to your money.Where to from here?If you’d like to know more about being a Spender, and how to navigate a relationship with a person of the same or different money personality, reach out to our team now on coaching@themoneycollective.com.au
2.
Saver
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You’re a Saver. Work, work, work! Save, save, save. As a Saver, you...Are a great person to know in a tricky situation, as you’ll usually have the backup funds needed. (Sure, you’ll make us jump through some hoops, but it’s worth it).Usually have a good long-term plan you’re working towards.Can be highly organised with money, accounts, and budgeting. Good on you!Watch out for... You may be difficult to live with if your communications skills let you down/Tunnel vision when you’re working towards your goals.Being inflexible when it comes to making big money decisions, especially those that involve taking on debt.Missing out on opportunities because of your aversion to taking risks.Working as is if the money may run out any day.Forgetting to enjoy life why you’re saving.Work on these things...Acknowledge if you could communicate better when it comes to your values around money. Especially important to understand joint goals and what you are working towards. Try to develop a balanced view/second opinion on making large purchases or investment decisions could be helpful.Know who the key people you can trust for good advice for bigger decisions especially those involving debt. Remember it is okay to have some fun and live a little. Share your money plan if you are in a relationship and see where you can give and take.RelationshipsNow, if you’re in a relationship see if your partner will take the quiz! Knowing each other's money personality will help you recognise how you can best support each other, and get on the same page when it comes to your money.Where to from here?If you’d like to know more about being a Saver, and how to navigate a relationship with a person of the same or different money personality, reach out to our team now on coaching@themoneycollective.com.au
3.
Avoider
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Hello Avoider! Do hard money decisions lead to analysis paralysis?As an Avoider, you...Are usually conservative, so will make measured decisions generally after much deliberation.Are likely to seek help, advice and do (copious) research before making large purchases or investment decisions.Can be conflicted around ethical values and decisionsCan generally be trusted to be a safekeeper of funds or someone who will not bust the budget.Watch out for...Feeling paralysed around large money decisions, especially if there is conflict with ethical beliefs.Taking too long to make decisions This may be due to lack of information, too much information or the monetary cost conflicting with your values.There is a risk that taking action can feel too overwhelming to you.Work on these thingsHave a set of rules on how to make decisions. Maybe for items under $50, if you need it, buy it.If an item is over $50 then do some limited research and decide within a time frame, say a couple of days, and then move forward.For big ticket items and life decisions such as buying a car, a house, renovations, changing jobs etc, make sure you have a trusted contact. This may be a trusted friend or a professional depending on the situation. If your values are challenged regularly, make some rules around what is and isn’t okay for you, e.g. underlying local, ethical etc. Then you can easily say yes or no without too much of an issue. Do not worry what anyone else thinks. By moving into your space more, you’ll get more confident. RelationshipsNow, if you’re in a relationship see if your partner will take the quiz! Knowing each other's money personality will help you recognise how you can best support each other, and get on the same page when it comes to your money.Where to from here?If you’d like to know more about being an Avoider, and how to navigate a relationship with a person of the same or different money personality, reach out to our team now on coaching@themoneycollective.com.au
4.
Risk Taker
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You're a Risk Taker!Risk taker, investor (and maybe the flashy car owner)As a Risk-Taker, you...Usually are very brave and are happy to “have a go”.Have an easy going mentality that money is easy to come by, and you can always get more.You’re on the lookout for a great investment or way to make the most out of your money.May think outside the square when it comes to how you earn money.Watch out for...Missing the decision making & consultation phase.Changing direction quickly and absorbing lots of information.Making quick decisions and regretting them later. Your susceptibility to big gains and big losses.Work on these thingsIt is super important for you to have a clear strategy/plan, then to look for ways to deploy the plan.Do research and seek good advice before making big purchases and investment decisions.The structure of account can put barriers in place, to create delay in accessing funds if necessary.Sleep on any big decisions before committing.Having a long-term game plan to work towards instead of playing on the fly.Communication, communication, communication. Especially with people who can help you with long term strategy and those you’re in a relationship with!RelationshipsNow, if you’re in a relationship see if your partner will take the quiz! Knowing each other's money personality will help you recognise how you can best support each other, and get on the same page when it comes to your money.Where to from here?If you’d like to know more about being a Risk Taker, and how to navigate a relationship with a person of the same or different money personality, reach out to our team now on coaching@themoneycollective.com.au