Different people have different money styles and they are often based on personality types. Take this quick quiz to find out your potential style and have some fun learning about the others!
For each question, answer true or false.
- I like to keep detailed records of how my money is spent. T/F
- When I hear about a good investment, I just know it’s the right thing. T/F
- If I disagree with investment advice, it’s because it’s not the right thing to do. T/F
- Getting money help from people I know is important to me. T/F
- There’s a right and wrong way to do money record-keeping. T/F
- People often ask me for advice about managing their money. T/F
- I am good at knowing where my money is and how it’s being used. T/F
- I have invested in things with few details because I had a good feeling about it. T/F
- I feel good when my money decisions make others happy. T/F
- Sometimes making good money decisions is based on more than just facts. T/F
- I know how to invest based on best practices. T/F
- I have people I like and trust who help me with my money decisions. T/F
If you answered “true” to the following questions, see your potential Money Profile below. If you have mixed answers, you may have a mixed Money Profile. Read both profiles and see which best fits you.
1, 5 and 7 – You are an Organizer
2, 8 and 10 – You are an Intuitive
4, 9 and 12 – You are a Connector
3, 6 and 11 – You are a Logician
You like to be organized, detailed and focused. There’s a right and wrong way to do things and having order and system is very important. If a mistake is made, you remember when it happened and who made the error. If you want to get the job done well, you need to know how all the details fit together in a concrete fashion.
- When it comes to money: You want to keep track of the details and find everything you need to prove how something was done. You get comfort from knowing where your money is and being able to show people how you are managing it.
- What you might be missing: Because you are so good at focusing on the details, you might have a hard time understanding how others feel comfortable taking chances without a lot of information. This could be problem if you share money responsibilities with someone else. Being open to their ideas might help you try new things.
You see the big picture. You can piece together ideas based on input from different sources and come up with new solutions or plans. There is no right or wrong way to do things; there might be a smarter way but even that depends. You see how to bring things together to create an even more powerful whole. You don’t like to be fenced in or burdened with too many details. If you want to get the job done well, you need to imagine all the possible outcomes and find the best idea and then others can bring it to fruition.
- When it comes to money: You are comfortable taking risks with your money because you believe there are lots of ways to make money. You don’t always feel you have to be conventional. You don’t really want to be weighed down with the details because you believe you have a good sense of what will be successful.
- What you might be missing: Because you trust your instincts so easily, you might miss red flags that are in the details. If you share money responsibilities with someone else, they are likely to feel very nervous about your approach. Trusting your instincts may be fine but you might want to take the time to look into the detail to vet your instincts.
You understand people. You get how people feel and how they need to be recognized for what they do. Big ideas and details are important but not at the expense of relationships. If you want to get the job done well, you will use people to their fullest potential and then recognize them for their contribution.
- When it comes to money: You have a cadre of advisors you count on to help you make your money decisions. You believe in the goodness of people and trusting others. You are likely to involve those people most important to you and listen to their opinions.
- What you might be missing: Because you are so good at connecting with people, you might not pay as much attention to the details that support their advice. While it’s easy for you to believe in the good in others, you may want to take the extra step and vet the advice (and details) yourself.
You know how to get things done; if someone has the vision, you can make it happen. You know how to use resources, people and process to make things happen. If you want to get the job done, you do it in a way that’s process-driven and can likely be repeated.
- When it comes to money: You are likely to have a process in place for managing your money. You believe you know how to do it; you stay on top of it and you use that process for long term planning. Because you have a defined process for your money management, it’s likely you are often asked for advice.
- What you might be missing: Because you are so good at following the rules and adhering to your process, you might filter out good advice because it doesn’t fit your models. There’s a chance, if you are investing with other people, that they might feel left out of the process because you are so confident and sure.
As with nearly anything in life, there are pros and cons to each type of money style. Knowing your tendencies can help create the best financial plan for your personality.