Financial Wisdom, Your Personality at Work

Your Money Personality November 24, 2007Financial Wisdom, Your Personality at Work2 Comment

Take this all-new test to get a look at how you tend to view money and some advice about how to improve your situation! The results are very straight-forward and clear. Simple is best. This test was part of a collaborative project developed by Dr. Annette Shtivelband and myself.

Part 1

1 – This week I have actively pursued direct ways to increase my income.

True
False

2 – I constantly look for, and work hard towards increasing my earning power.

True
False

3 – If I was given the opportunity to work in a career that was much more enjoyable and fulfilling than what I am currently doing, but to do it I’d have to take a 50% pay cut, I would not go for it.

True
False

4 – I would not enter a romantic relationship with someone who had poor money-management habits.

True
False

5 – Every step I make furthers my career.

True
False

6 – I know that I will (or do) make more money than most of my peers in the short-term future.

True
False

7 – One of my long term goals is to be wealthy or rich (or I already am wealthy/rich.)

True
False

Part 2

1 – I have a balance on more than one credit card.

True
False

2 – I am not afraid to go a bit “above and beyond” on my spending on holiday and birthday gifts for others.

True
False

3 – We own or lease more than one vehicle for every two members of our household.

True
False

4 – I have less than 2 months of living expenses in an easily accessible savings account.

True
False

5 – I don’t always try to put some money in savings every month.

True
False

6 – I enjoy shopping and buying new things.

True
False

7 – I try to keep up to date with my wardrobe, choice of furnishings for my home, and technology (TV, computers, etc.)

True
False

Scoring Your Test

Count the number of “true” answers for part one. If you have 4 or more “true” answers, your first letter is “E” in your money personality code. If not, your first letter is “N.”

Now, count the number of “true” answers for part two. If you have 4 or more “true” answers, your second letter is “S” in your money personality code. If not, your second letter is “V.” The chart below will give you a visual representation of which quadrant you fall into (although I don’t have the exact coordinates programmed in yet, you’ll just be able to figure out your code by totaling your responses for now.)

Your Money Personality Code

moneychart2.jpg

ES – (High earning, high spending): The Consumer

You tend to earn a lot, but see much of the fruits of your labor go out the window. Much of white-collar America falls into this category. You work hard, work long hours, and have impressive paychecks, but you also have a lot of debt, own lot of things, and live with a lot of “buyers itch.” Whether or not you want to admit it to yourself, you do care what others think of you on an economic level. You would hate to be thought of as “poor” and you enjoy keeping up with the Joneses.

Advice for ES

Check out the description for type EV to get ideas for a simpler (and less stressful) way of life. Ask yourself the following question: “Which is more valuable: my time or my money?” It would help you to read books about overconsumption and question whether your spending habits are necessary, or if you are just buying things out of boredom or to impress others.

EV – (High earning, low spending): The Master

This is the type we should really all be shooting for if we want to live “comfortably.” Not only do you make a lot of money from you day job/venture(s), but you are also so good with money that if you wanted to, you could expect to retire pretty young. Time is more valuable to you than things, as is your freedom. It’s important that once you do escape the rat race (if you are not already there) that you cultivate other hobbies and interests that are not related to earning a high amount of income. You’d make a great financial adviser to your friends since you are so good with money.

Advice for EV

While you definitely have a huge financial advantage over most others, you also have some lessons to learn about the value of money. More than other types you are likely to feel some guilt over spending. If you truly save and save and save, ask yourself what you are saving for? You have (or will have) plenty of freedom, time, and power. Make sure that you let loose and don’t be a afraid to use some of your resources for enjoyment as well.

NS – (low earning, high spending): “The Dreamer”

Your financial situation is a precarious once, but for one reason or another you have not learned how to deal with it effectively. It’s going to be difficult for you to ever break free of the high-stress life you have created for yourself because you haven’t learned how to control your spending. On top of all this, you haven’t learned how to (or are incapable of) earning a decent living. This may not be your fault at all, as the economy is not fair to many of it’s hard workers and doesn’t pay a great wage.

Advice for NS

You should see a financial professional, (or talk to an EV or NV friend) about how to control your spending, or you’ll end up in a really bad financial mess. If you are a student/still rely on your parents’ financial support, it’s not too late to change your spending habits. Remember that the more you throw your resources way today, the fewer you will have tomorrow.

NV – (Low spending, low earning): “The Magician”

This type is healthy in the sense that your life/income levels are balanced. It has real pitfalls though. You may “burn out” after a long life of scraping by on ingenuity alone. You tend to hoard your money out of necessity and you have trouble earning a decent wage. This may not be entirely your fault, as it is difficult to make a decent wage these days. It’s a good thing that you are so good with money, because others in your situation get into real financial trouble.

Advice for NV

You need to work on increasing your earning power (whether this means switching careers, starting a business or going back to school.) You can afford any of these scenarios because you will never “mess up” financially by being too much of a consumer. One potential problem is that homeless people and transient types also fall into this category. Make sure that you are meeting your own basic needs, even if it’s difficult. Health insurance counts as a basic need!

If you liked this test also check out some other tests at The Great Office Escape:

Recommended

2 Comments

Leave a Comment

Sick of your job? Get started creating your own dream career today! Sure, it takes hard work and dedication. But we are here to help!

Learn More

Articles by Type

Articles by Date