Trying to clean up your finances in 2014?

When you understand your emotional approach to money, it can help you manage your finances more effectively. Take this short quiz to discover what triggers you to spend, and uncover your real attitude towards money!

You just got your paycheck. Where is the money going?
A. Make plans to go to Happy Hour with my friends.
B. Pay for “needs” first before spending the rest on “wants”.
C. Pay off my debts.
D. It’s going straight into my savings account.

If you buy something on impulse, you feel:
A. Fantastic! There’s no high like a purchase high.
B.  Happy but a little nervous because I know I can’t afford it.
C. A little reckless but I have the money to pay for it.
D. I rarely do this and start having buyer’s remorse the moment I leave the store.

What do you spend the most on?
A. Entertainment – everything from trips to concerts to eating out.
B. Things that my friends and family enjoy.
C. Paying off my debts.
D. Monthly mortgage payments on a house I can afford.

What do you generally do for lunch?
A. Hit up my favorite sushi spot.
B. Grab a sandwich from the corner café.
C. Bring leftovers, but if co-workers suggest eating out, I always go.
D. Brown-bag it. I can save approximately $40 per week!

How are you saving for retirement?
A. What retirement? I can’t think about what’s going to happen so far in the future.
B. I’ll do it myself and just save a bit here and there.
C. I’m enrolled in my company’s 401(k) program, but I don’t know exactly how much I’m saving.
D. I’ve got it covered: 401(k), Roth IRA, a high-interest savings account, etc.

When it comes to saving money:
A. I don’t have enough money, so obviously I can’t put any of it into savings.
B. It’s very difficult. I need to take care of my debt problem first.
C. I try to save regularly, but I know I should be saving more.
D. It’s become second nature. I want to be prepared for whatever life throws at me.

How do you feel about your finances?
A. It’s not something I like to think about. I have an “ignorance is bliss” attitude.
B. I worry about money issues and how I’m going to pay the bills.
C. Money isn’t everything. As long as I have enough to get by, I’ll be fine.
D. I feel secure about my financial situation, but there’s always room for improvement.

This best describes your attitude toward credit:
A. I’ve never known life without debt. How am I supposed to survive without credit?
B. I overuse credit but I’m still able to make my minimum payments.
C. I have debt and am trying to live on cash and debit cards only.
D. I pay off my credit cards on time and in full each month.


Mostly A’s: Reckless Spender
You may be in serious financial trouble! You love the rush of spending money and believe that life is too short – so just enjoy it and live in the moment. However, there’s a high price to pay for living above your means. It may be beneficial for you to consider getting some professional debt help.

Mostly B’s: Imprudent Spender
You worry about money, but you aren’t taking the necessary steps to actually improve your situation. Temptation often gets the best of you, and you end up make money choices that you later regret. You’re not sure what to do, but it’s essential that you start being proactive about managing your finances.

Mostly C’s: Conscientious Consumer
You are cautious about how you spend your money, but you don’t keep track of where every cent goes.  You may carry some debt, and though you’d like to pay it off, you’re not overly worried about it. You’re more focused on living within your means.

Mostly D’s: Savvy Saver
You like to be in control and are usually on track with your finances. You take the time to weigh out your options before making decisions. Your spending style may be more conservative, but you believe it can help prevent financial mistakes down the road.