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Money Matters

QUIZ: What Is Your Money Personality?

Take this quiz to see how well you're doing financially

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Photography: Pixabay

Many people — single and married alike — simply spend as they need and count on the next paycheck to replenish their finances. If you’re making enough, this might be fine for the short term. But “short term” is terrible if you’ve got big things planned for your family. After all, the money for your child's future college tuition won’t just appear out of nowhere. So, ready or not, you need make some hard choices on your family's financial priorities. And it means getting to know your money personality.

This money personality quiz is simple, but it helps you figure out your family's financial goals. More importantly, it's a way to see if you and your partner are on the same page, which is crucial. The results can point you to the right direction, so you can create budget and investment guidelines and helps measure the family’s progress toward reaching your goal.

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Grab a pen, a piece of paper, and take the money personality quiz:


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If you can save more money, you definitely should, says Francisco J. Colayco, author of Pera Mo, Palaguin Mo. “Savings are really an expense,” Colayco explains, “an expense that buys your future. Most of us define savings as ‘income minus expenses.’ This is very [misguided]. Dapat, ‘income minus savings equals expenses!’” If your savings consist of whatever’s left over at the end of the month, you may be in trouble — expenses always expand to consume any surplus.

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Quiz by Justine C. Tajonera | Illustrator: Natz Bade

 

This story originally appeared on Smartparenting.com.ph.

* Minor edits have been made by the Realliving.com.ph editors.

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