How do you manage your money – or does it manage you?

Take our fun money quiz to find out

Have you always wondered how you compare to others when it comes to managing your money? Find out more about your financial attitudes and habits by taking our money quiz.

Simply keep a note of whether you choose mostly As, Bs or Cs as your answers and then read the outcome which is most relevant to you. Finding out about your personal approach to money could be a real eye-opener to help you improve how you manage your money in the future.

Take the money quiz

1. You unexpectedly get a £1,000 windfall. Do you:

A. Spend it all at once on indulgent treats?

B. Put it towards paying off your debts?

C: Use a small part of it to treat yourself to something that you’ve always wanted, and invest the rest?

2. You see an item of clothing you love but can’t really afford. Do you:

A. Buy it now, knowing you can’t pay for it in full immediately?

B. Wait in the hope that the price will be reduced in the future?

C. Try to find a cheaper alternative?

3. You’re present shopping for a friend and their requested gift is unexpectedly reduced and cheaper than your budget. Do you:

A. Upgrade your present to something more expensive – you don’t want them to think you’re stingy?

B. Buy it at the reduced price, and look for something else to buy that your friend might like with the money you’ve saved?

C. Buy it and not mention to your friend that it didn’t cost the full amount – it’s the thought the counts, not the money?

4. You decide to book a holiday. Do you:

A. Browse online, book your holiday and worry about the cost later?

B. Browse with a budget in mind but blow it when you see a package you really love?

C. Set out a budget, having investigated what you can afford, then search online within your budget to see what most appeals to you?

5. You review the returns on your investments (pension, savings, ISA):

A. Never – you don’t have any.

B. When you receive notification of a change in terms.

C. On a regular six-monthly basis.

6. You buy yourself a treat that you feel a bit guilty about.  Do you:

A. Hide it from your partner?

B. Tell them a white lie about the cost?

C. Tell them the truth?

7. Your fixed-term contract on your mobile phone is up for renewal. Do you:

A. Stick to your current provider as it’s easier.

B. Intend to shop around for a better deal, but not get round to it?

C. Look at other providers’ rates, compare them with your existing provider and go elsewhere if a competitor offers a better-value deal?

8. You book a restaurant for a special occasion. Do you:

A. Book a table at an impressive restaurant and order à la carte to make it memorable?

B. Book at an expensive restaurant but keep the costs down by ordering cava, not champagne, and drinking tap water?

C. Find a good deal at a lovely restaurant by looking around for mid-week or set-meal offers?

9. You’re doing your regular weekly supermarket shop and haven’t eaten for hours. Do you:

A. Pick up all sorts of food that looks appealing because you’re so ravenous?

B. Try to stick only to what you need but buy some ‘treats’ to eat when you get home?

C. Go armed with a list of what you need and not deviate from that?

10. Your best friend, whose taste and style you admire, upgrades their car. Do you:

A. Feel jealous that they can afford it and look to upgrade your own too, borrowing money if you need to?

B. Feel envious and covet one yourself, but accept it’s out of your budget?

C. Admire it and feel pleased for them, but remain happy with your own car?

11. You open your fridge not sure what to cook. Do you:

A. Not see anything you fancy and order a takeaway?

B. Cook a ready meal from your last supermarket shop?

C. Use up leftovers from yesterday’s roast, turning them into a chicken risotto?

12. Your washing machine breaks down. Do you:

A. Order a new one?

B. Search online for a repair service?

C. Try to mend it yourself or ask your regular repair man to come and fix it?

13. You examine your outgoings and realise the gym membership you hardly use costs a lot each month. Do you:

A. Mean to cancel it but never get round to doing so?

B. Start going more frequently to get your money’s worth?

C. Cancel it immediately and find other ways to keep fit, such as by walking to work?

14. You’re buying some jeans and can’t decide between two pairs. Do you:

A. Buy the pair with the coolest label, because they’ll make you feel better?

B. Buy the most expensive pair, because you feel they’ll probably last longer?

C. Buy the cheaper pair, because there’s no difference in the quality or how much they suit you?

15. You consider money as:

A. A necessity to buy the things you want and have a happy life.

B. A problem – you never seem to have enough of it.

C. Something that’s important to manage properly today, so tomorrow will be easier.


Find out your result

If you’re mostly…

As

You’re impulsive and headstrong – great characteristics in their place, but not perhaps the best when it comes to money. You focus solely on the present and shy away from confronting your financial shortcomings, but you should take action now to learn how to plan and not simply be spontaneous. Re-evaluating your priorities may help you learn not to judge something solely by its monetary value and to discover what you really like. You may find our article, Taking the first steps in planning your finances, a good place to start. 

Bs

You’re full of good intentions when it comes to managing your finances, but are distracted by temptation and hampered by a lack of organisation. Monitoring your habits may be boring now, but focus on feeling virtuous and on the benefits it’ll bring in the future. Honing your planning skills and thinking ahead more will stand you in good stead. Our article, How to be good with money, could give you some useful tips.

Cs

Your old-fashioned attitude to money finds you, ironically, leading the current trend towards more careful spending. You plan your financial decisions with an eye on the long-term and the time you spend managing your money now will reap dividends in the future. You know your own values and are comfortable and confident with your attitude to money. Well done! Our article, Top 9 money-saving websites, may be right up your street – that is, as long as you aren’t aware of the featured sites already (which it sounds like you may be).


Before making financial decisions always do research, or talk to a financial adviser. Views are those of our mentors and customers and do not constitute financial advice.