What’s your money personality? Laurie Campbell, executive director of Credit Canada, a not-for-profit debt and credit counselling charity, slots spenders and savers into five categories.
Take the quiz and see how where you fit.
Step One
- I’m afraid of running out of money before I die
- I save money with no specific goal or purpose
- I don’t improve my standard of living because I don’t want to spend money
- I often find myself grumbling about the cost of living
If you answered yes to two or more of these then classify yourself as a “tightwad.”
Step Two
- I have haphazard spending habits
- I feel tomorrow may not come or doesn’t matter so I spend today
- I don’t save for emergencies, major purchases or the future
- I have lots of credit available and debt that never seems to diminish
If yes to two or more then your money personality tends to be the “spendthrift.”
Step Three
- I set goals and have a financial plan for the future
- I have a budget and I make adjustments as my life changes
- I live within my means
- I keep my debt to a minimum
Do two or more fit you? If so, you are a “guardian.”
Step Four
- I have big dreams and I’m tempted into get-rich-quick schemes
- I have no savings and pay for most larger purchases with my credit card
- I have no budget and don’t track what I spend
- I like to take financial chances and hope my ship will come in to pay them off
If two or more fit, then you are a “gambler.”
Step Five
- I have financial goals and a general plan
- I try to make regular RRSPRESP contributions but am not always successful
- I have moderate to heavy debts but also some savings
- I believe a budget is a good idea but don’t have one
Two or more nods means that when it comes to money, types you are a “work in progress.”
Of course, there’s no black and white in money personality types and most are a mix. But if you don’t like the type you tilt towards, then this little quiz might motivate you to change. You can get help at www.creditcanada.com.
