What Kind of Spender Are You?
What kind of spender are you? Do you have a financial lifestyle that suggests the “rich and famous,” or do you spend like a “working class stiff”? To get some insight into your approach to money management, take the following quiz and choose the answer that most describes you.
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1. How do you handle water when you’re in a restaurant?
A. I don’t usually ask for water.
B. Can’t be too careful—I always get bottled water if they have it.
C. Give me the sparkling!
D. Tap will do just fine, thank you.
2. Which best describes your approach to coffee?
A. Starbucks™ was created for people like me!
B. My morning cup of Joe from the kitchen suits me just fine.
C. I don’t drink a lot of coffee, but I like a Café Mocha once in a while.
D. Never touch the stuff.
3. When it comes to my TV viewing habits…
A. I only have basic cable.
B. I have a package with one or two premium channels.
C. Give me the works! I like all the movies and all the sports!
D. I really don’t watch TV—I get what I need online.
4. How do you usually shop for nonessential items?
A. I try to always use Craigslist or eBay.
B. Amazon is my go-to!
C. I compare prices with multiple online stores before I buy.
D. I visit retail stores that I trust.
5. What do you do with your annual tax refund or end-of-year bonus?
A. Pay off a credit card or other debt.
B. Did someone say “shopping spree”?
C. Save it for a rainy day.
D. Put the money into some sort of an investment.
6. What do you usually do with your loose change?
A. Leave it as a tip or put it into the countertop charity jar.
B. I have a coin jar at home that I’m filling up.
C. It stays in my purse or pocket until I need it.
D. I don’t think about it—usually I find it later on my dresser or in the bottom of the dryer.
7. How many months’ worth of your monthly expenses do you set aside (save) for an emergency?
A. I better not have an “emergency”—I don’t have any extra money saved.
B. Just 1 month.
C. About 3 months’ worth.
D. At least 6 months’ worth.
8. How do you handle your monthly bills?
A. Pay the minimum when I have the money.
B. Pay the ones that have the big red words “PAST DUE” written on them.
C. I’m pretty organized: I pay my bills on time, mostly with auto-pay.
D. I really don’t have many bills at this stage in my life.
9. What are your buying habits at the grocery store?
A. I buy what looks good, and that’s what I’ll eat for a few days.
B. I use a detailed shopping list and rarely buy anything extra.
C. I gravitate towards trusted, go-to brands.
D. I stick with store brands or generic—whatever is cheapest.
10. When is the best time to start saving money for retirement?
A. When you get married.
B. When you have your first child.
C. When you first start your career.
D. When you finally have some money left over after paying your bills.
11. What is the first thing you do after cashing your paycheck?
A. Pay my bills and use what’s left to live on until my next puny paycheck.
B. Celebrate a little with a night out or something fun!
C. Put a little bit into my investments before spending the rest.
D. Give it to my spouse: He/she handles the expenses and I get a spending allowance.
12. How do you use your credit cards?
A. I don’t have any credit cards.
B. I have pretty low balances on my cards, and I always pay more than the minimum.
C. I use my cards to earn things like points and cash back, but I always pay the card off every month.
D. I get in trouble with credit more times than I care to admit, and some of my balances are a little scary.
13. How do you handle workday lunches?
A. I already told you, I collect loose change.
B. I brown-bag it almost every day.
C. I’m about 50/50 between eating my own lunches and going out.
D. Who has time for lunch? I’m lucky if I get a snack at my desk!
14. You desperately need a vacation. How will you pay for it?
A. Just use the money in my vacation fund.
B. Use some savings and frequent flyer points to cover what I can and put the rest on a credit card.
C. Most of my vacation expenses go on a credit card.
D. I only go where I can afford—which means I don’t go anywhere.
15. What percentage of your take-home pay are you saving?
A. About 5%.
B. About 10%.
C. At least 15%.
D. Man, I wish I could be saving some money.
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