3.2 Which of these jobs would you like to take? Back up your choice.
Section 4. Follow up activity
Do the quiz below to identify your money style. Then say whether the description turned out to be accurite or not.
Your Money Style Quiz
1. |
You lucky! Upon arriving in Las Vegas for a week-long vacation, you win $1,000 on your first bet. What do you do? |
a. |
Put the whole sum of money into a back account hoping to receive interest and stick to your pre-arranged spending plan for the rest of the trip. |
b. |
Put it all on the next turn of the wheel. |
c. |
Spend it all on shows, restaurants, and spa treatments before you leave town. |
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2. |
When shopping at your favorite store, you spot the perfect pair of pants. They suit you to a T! Only one problem: they are way out of your budget. What do you do? |
a. |
Buy them before your conscience says no. Plastic is power! |
b. |
Wait for the pants to go on sale. |
c. |
Buy them, agonize over your purchase all night long, and then take them back the next day. |
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3. |
Good news arrived in today’s mail! You have inherited $10,000 from crazy old Aunt Minnie, whom you have never even met. You: |
a. |
Start booking your vacation to Tahiti. |
b. |
Increase your contributions to your retirement plan. |
c. |
Put it in your checking account to pay bills. |
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4. |
When it comes to saving money, you: |
a. |
Can’t do it to save your soul. |
b. |
Have set up a system that works for you. |
c. |
Make (and break) a new savings plan every other month. |
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5. |
Regarding money, your best wish for your children is that: |
a. |
They learn to control their spending. Someone’s got to. |
b. |
They have good luck. That’s what really matters it in this world. |
c. |
They have a good education. They’ll need to work hard to find a good profession. |
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6. |
Money-wise, what do you look for in a mate? |
a. |
A stable income and a conservative investment style. |
b. |
A hot car in his driveway and a lot of shiny plastic in his wallet. |
c. |
A lack of concern for material things. |
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7. |
Your worst money problem is your: |
a. |
Lack of financial education. |
b. |
Shopaholic tendencies. |
c. |
Procrastination. |
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8. |
Your worst fear about money is: |
a. |
Being awakened by the sound of creditors underneath your bedroom window. |
b. |
A financial crisis reducing your income by 90 percent. |
c. |
Realizing that you are 55 and have no possessions other than your old car. |
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9. |
A quality that you admire in yourself is: |
a. |
Punctuality-you’re always on time. |
b. |
Spirituality-you’re not a money-grubber |
c. |
Vivacity-you’re the life of the party. |
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10. |
The reason you don’t have as much money as you want is: |
a. |
You’re too cautious. You miss out on great investments because you don’t want to take a risk. |
b. |
You throw it away. You keep buying things you don’t really need. |
c. |
You’re not really sure why you don’t have as much money as you want. |
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11. |
Your attitude toward life is best summed up with the phrase: |
a. |
A stitch in time saves nine. |
b. |
He who laughs last laughs best. |
c. |
Ignorance is bliss. |
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12. |
When tipping in a restaurant, you: |
a. |
Tip in accordance with the quality of the service. You reward good servers and punish bad ones. |
b. |
Tip lavishly. You expect to get the best service in the house next time. |
c. |
Tip well even if the service is mediocre. You don’t want to embarrass the server. |
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Scoring: In the chart below, circle the letter (H, A, or S) to which each of your answers corresponds. Then count the number of circles for each type. The type with the highest number is your money style.
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A |
B |
C |
1. |
H |
S |
A |
2. |
S |
H |
A |
3. |
S |
H |
A |
4. |
S |
H |
A |
5. |
S |
A |
H |
6. |
H |
S |
A |
7. |
A |
S |
H |
8. |
S |
H |
A |
9. |
H |
A |
S |
10. |
H |
S |
A |
11. |
H |
S |
A |
12. |
H |
S |
A |
Rating: From the scores above, you can see which of the money styles dominates your personality.
The Hoarder
The Hoarder is deeply attached to her money. His / Her hobby is saving money, and he / she loves to see the bank account grow. The Hoarder is also good at clipping coupons, setting budgets, and prioritizing financial goals, though he / she unlikely to take on much risk. The Hoarder keeps his / her money “safe in the bank,” never considering that inflation is eating away at savings every day. Many Hoarders worry about money and feel that they will never have enough to feel secure.
The Avoider
The Avoider has trouble dealing with finances: budgeting, paying bills or investing. They may have a fear of money that stems from a lack of self-confidence in dealing financial matters. As a result, the Avoider prefers to ignore the issue of money rather than cope with fear and take control of his / her finances.
Alternately, the Avoider might believe that money is evil and has the power to spoil people. They feels that having too much wealth or making a profit on investments means they are being greedy or selling out on their values and beliefs.
The Splurger
The Splurger’s credit cards are her best friends, but like some friends, they frequently talk him / her into spending money she can’t really afford. Splurgers hates to limit themselves-after all, they works hard for money, and deserves to have money make them feel good. While Splurgers wait for the miracle person or event that will solve his/her financial problems, they may spend most of what they have at their disposal, or rack up a hefty amount of debt.
