Everyone talks about how your childhood experiences relate to who you are as a person, says personal finance expert Rachel Cruze. Well, those experiences and resulting personality traits also shape how you deal with money. When you know how your traits and tendencies inform how you handle money, you can really take control of your finances. Your money personality is made up of tendencies — like saver or spender, quality vs. quantity, safety or status + some others.
INSTRUCTIONS: This short quiz has six questions. Each one has two options you can choose from. Simply think about which one sounds more like you. Even if the answer doesn't perfectly describe how you would respond, think about which way you would lean. Remember, there are no right or wrong answers—this is to help you better understand YOU!
1. There's a toilet paper shortage due to a global pandemic and quarantine. (Oh wait, this one really happened.) How do you handle it?
A. I buy more toilet paper than I normally would so I'm prepared. Toilet paper isn't something you want to run out of!
B. I have plenty of toilet paper right now, so I'll post on the neighborhood Facebook page to see if I can drop some off to anyone else.
2. One of your coworkers got a promotion and a raise. Your first thought is (be honest!):
A. I haven't gotten a raise in a while. Am I doing something wrong? When will it be my turn?
B. I'm genuinely happy for them. I hope they do well in their new role!
3. Your friend invites you to go to the Taylor Swift concert when she's in town, but it's $200 a ticket, and it's not in your budget. You think:
A. Dang it, I can't afford that. Womp womp.
B. I love the budget I set for this month, so I'm okay with saying no this time.
4. It's almost Tax Day! You are . . .
A. Way ahead of the game. You've been prepared for this for months.
B. Wondering, "When is Tax Day again?"
5. Going on a weeklong vacation to someplace new, you're more likely to:
A. Make a detailed plan for each day of the trip.
B. Just go with the flow. Vacations are more fun without a schedule.
6. When it comes to how you live your daily life, your motto is:
A. "A place for everything and everything in its place."
B. "It'll all work out!"
TIME TO TALLY YOUR RESULTS!
Use the answer key below to see which way you tend to lean for each section.
Scarcity = A | Abundance = B
Do you have a scarcity mindset or an abundance mindset? Read more about both and how they affect your financial decisions in my new book!
Nerd = A | Free Spirit = B
Are you a nerd or a free spirit? Let's dig into this more. Read about the strengths and challenges that come with each in my new book!
To get the advice Rachel gave a couple who received opposite results on this quiz (one is a spender — aka with an abundance mindset — and one is a saver — aka with a scarcity mindset — read more here.
These are just two of the seven money tendencies from Rachel's new book, Know Yourself, Know Your Money, which she promises will help you unlock the psychology, strengths and challenges that come with each of the 7 Money Tendencies — so you can start winning with money. Take Rachel's full quiz here.