What’s Your MONEY ATTITUDE?
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"We know that some day we will hang up our work boots and retire, God granting," McCurdy concludes. "It is important to start thinking about how we manage our finances no matter where we are in the game."
The Attitude Quiz
Excerpted from How Much Is Enough? Balancing Today's Needs with Tomorrow's Retirement Goals
1. A. Shopping is my favorite sport.
B. I shop when I need something.
C. Shopping can be fun sometimes, especially if I'm shopping for other people.
D. Shopping is torture.
2. A. Credit cards allow me to have what I want without worrying if I can afford it.
B. If I can't afford something but it's an investment, why not use credit cards?
C. I give my kids credit cards to teach them the value of money.
D. Credit cards are a good way to build up a credit rating and a handy alternative to carrying cash.
3. When I go out for dinner with friends,
A. We check out the latest hot restaurant, and we split the bill evenly.
B. Sometimes I pay, sometimes they pay –– it all works out eventually.
C. I usually fight for the check.
D. We ask for separate checks.
4. If I see something I like, I
A. Buy it.
B. Buy it if it fits into my game plan.
C. Get one for me and one for somebody else if it's a good deal.
D. Usually talk myself out of buying it.
5. If I won a big lottery, I would
A. Never have to think about money again.
B. Use it to create something important.
C. Spend a lot of it on friends, family, and charities, and keep enough to live on.
D. Make sure my family was taken care of, pay off the mortgage, then live on the interest.
6. If I don't have any money in the bank, I
A. Use my credit cards and line of credit — isn't that why they're there?
B. Use credit to leverage opportunities.
C. Worry that I won't be able to fulfill people's expectations of me.
D. Get anxiety attacks (or I would if it ever happened).
7. A. I don't know where all my money goes.
B. I always have a pretty good idea of how much money I have available, but never let that stand in the way of a good idea.
C. Most of my money is allocated to family, charity, or trying to make a difference.
D. I keep close track of all my bank accounts and investments.
8. I love to use my money to
A. Enjoy life to the fullest.
B. Follow my interests and stretch myself.
C. Make other people happy.
D. Build up a nest egg.
9. When I go shopping for something I need, I
A. Usually come home with a few extras.
B. Find it, buy it, and go home.
C. Look around to see if there's anything I can pick up for anyone else while I'm out.
D. Shop around to make sure I'm getting it for the best price.
10. When I give to charity, I
A. Give to the ones that appeal to my heart.
B. Choose charities that most closely match my aims and beliefs.
C. Give as much as I can because others need it more than I do.
D. Allocate a specific amount to the charities of my choice.
11. A. It's important to get a new car every three years.
B. If you buy the right car, it's a good investment.
C. It's an incredible timesaver if everybody in the family has a car.
D. I take really good care of my car to make it last.
12. When somebody has a new car, I ask
A. Did it come loaded?
B. What kind of car is it?
C. Are you happy with it?
D. How did it rate in Consumer Reports?
How did you score?
What does money mean to you? It's helpful to know because any of these attitudes taken to the extreme can sabotage your dreams. Find out by adding up the As, Bs, Cs, and Ds you have; the category in which you have the highest score is your type. You probably won't be one type exclusively, but one attitude will probably prevail. If your top two choices are about equal, you are a combination of two types. Once you know which type or combination of types you are, you'll have a better idea of why you spend money in certain ways, and you'll also be able to see patterns in your wish list, once you get to that part.
If you picked mostly:
As: The Spender
Bs: The Builder
Cs: The Giver
Ds: The Saver