To deal with overspending, you need to deal with the spending habits behind your spending.I have identified six main spending habits or Spending Types that account for most of our overspending. Find out your Spending Type with the Spending Type Quiz!*Please select ONE option per question that best describes you
When I see a window display that looks exactly how I want to be viewed
B.
When I am bored
C.
It doesn't matter what time of day it is-I will shop when I see something I want
D.
I go through phases-sometimes I am shopping all the time and sometimes I am not. It seems to happen monthly
E.
When I see a sale
F.
Only when I am out of something or when I need something. I never go shopping 'just to shop'
2.
What's for lunch?
A.
Whatever is in my fridge. Food is a necessity, but eating out is not
B.
Eating out is less than $20, it's not that big of deal
C.
It's based on my mood-if I am feeling down I have to go out for a bit
D.
I am being really strict on my budget this month, so it is homemade ham and cheese sandwiches for me
E.
I eat at the places I have a coupon for or whatever is in my fridge that I bought on sale
F.
If I want to eat out I do. Even if I have good food in the fridge, I eat what sounds good to me in the moment
3.
How would you describe the items you purchase?
A.
If I am saving money, I don't buy items. If I am spending money, I don't see a problem with buying an item
B.
I only buy necessities. Sometimes I don't even get things I need if it is not dire
C.
If I want something, I will get it. I don't worry about the price
D.
I rarely buy items that are not on sale, but I don't always need them
E.
If I am feeling down I want something that makes me feel better
F.
I don't keep tabs on what I buy or how much I spend
4.
Your friend has an item you LOVE. Do you...
A.
Buy it. It's been awhile since you splurged on yourself
B.
Try to find one for yourself even though you have a similar item already in your closet
C.
Get the exact or similar item as soon as you get the chance
D.
If I am saving, I add it to my wishlist. If I am spending, I find where and how soon I can get it
E.
Determine that even an item I love is still nonessential. I'll wait for my birthday or Christmas
F.
Find a cheaper alternative or wait for a sale
5.
What phrase best describes your online spending habits?
A.
I get online to pass the time
B.
I am most excited for an item when I find it online and wait for it to arrive. Once it arrives, I am searching online for another item that gets me excited again
C.
When I get in my spending phase, I am ALWAYS online looking for my next big purchase
D.
If I am shopping online it means that my go-to stores are out of my product(s). Otherwise online shopping shopping is out of the question
E.
I go online to ensure I am getting the best deal
F.
An item rarely sits in my cart for longer than a day. I checkout as soon as the item(s) are in my cart
6.
When you look around at the stuff you have bought, you see...
A.
All the money I have saved
B.
Things that excite me when I remember buying it
C.
Stuff and no idea where all my money went
D.
A good stockpile of the things we use and need-nothing extra
E.
Did I really buy that? I don't even like it
F.
I don't see a pattern in the stuff I have and haven't bought. I just feel like I am either spending OR saving with no in between
7.
If you could change one thing about your spending habits, what would it be?
A.
I have no self control. I see something, I buy it. I want to have more self control
B.
I wish I was more mindful about my money. I just don't really preoccupy myself with it
C.
I wish I could enjoy my money once in a while. I only buy things I use and need
D.
I wish I could control my bargain spending to include only items I need
E.
I want there to be a balance between my spending and my saving. I want to do both, not one or the other
F.
I use spending as a way to cope. I want to have other ways to deal with my feelings
8.
What best describes your money goal?
A.
Money is there to make you happy
B.
Money is there to buy needs. Wants are a luxury
C.
I want to save money on everyday items to leave more money for other things
D.
Money is for both saving and spending
E.
Money is to get what I want when I want it
F.
I don't have one
9.
Which phrase best represents your spending habits?
A.
I spend most of the money on necessary items for the household, family members, and close friends
B.
I spend most of my money on deals. I will get something, even if I don't need it now, if I know I could use it in the future
C.
I am not actively aware of my money-I underestimate what I spend and overestimate what money I have
D.
I spend most of my money during times of heightened emotion
E.
I spend most of my money on impulse purchases-meaning don't plan for them in advance
F.
I will go through a period of spending where I don't save at all. Then I will feel guilty about all the spending so I recommit to saving money. During times of saving, I don't buy things
