What's Your Spending Style?

Are you a penny-pincher or a profligate spender? Take the quiz and discover your spending style.

Quiz

1. Your car has broken down and the mechanic estimates the cost of repair somewhere north of $1,000. How do you pay for the repairs?

  • I withdraw the money from my emergency savings fund.
  • I junk it. Who needs a car, anyway?
  • I buy a new car, instead - I was getting sick of the old one

2. Your favorite clothing store is having a one-day sale. What do you do?

  • I buy one or two items I've had my eye on.
  • I buy as many things as I can get my hands on! It's a sale!
  • Why would I buy new clothes when my old ones - from 10 years ago - still look fine?

3. What's your attitude toward saving for retirement?

  • I pinch every penny and think only of the future.
  • I contribute regularly to a retirement plan, such as a 401(k) or a Roth IRA.
  • Why save for retirement? I could die tomorrow.

4. Which most closely describes your approach to making a major purchase, such as a new car or television?

  • I'll go to the ends of the earth to find the best deal on anything. Price is the most important consideration.
  • I'll buy quality, but only if the price is right. I'll spend some time researching brands and shopping for a good deal.
  • I want the best - cost be darned!

5. You find yourself out for drinks after work. Which is more likely to be your attitude?

  • I'll buy a round.
  • Drinks are on me!
  • I'll just buy a ginger ale and nurse it all night.

6. Do you carry a credit card balance?

  • I use a credit card, but typically pay my balance in full each month.
  • I don't even have a credit card.
  • I have multiple credit cards, all with some outstanding balance.

7. Do you have a set monthly budget for different categories like bills, shopping, and entertainment expenses?

  • I've got my expenses planned out to the penny.
  • It's not hard and fast, but generally I have a spending plan each month.
  • I don't have a clue what I'm spending my money on.

8. How many recurring fees do you pay each month - for things like cable television, Netflix, and DSL?

  • None! Those things are money drains.
  • A couple, but they're comfortably within my budget.
  • Well, there's the gym, and TiVo, and my "Bacon of the Month Club" membership, and...

1. Your car has broken down and the mechanic estimates the cost of repair somewhere north of $1,000. How do you pay for the repairs?
I buy a new car, instead - I was getting sick of the old one

2. Your favorite clothing store is having a one-day sale. What do you do?
Why would I buy new clothes when my old ones - from 10 years ago - still look fine?

3. What's your attitude toward saving for retirement?
Why save for retirement? I could die tomorrow.

4. Which most closely describes your approach to making a major purchase, such as a new car or television?
I want the best - cost be darned!

5. You find yourself out for drinks after work. Which is more likely to be your attitude?
I'll just buy a ginger ale and nurse it all night.

6. Do you carry a credit card balance?
I have multiple credit cards, all with some outstanding balance.

7. Do you have a set monthly budget for different categories like bills, shopping, and entertainment expenses?
I don't have a clue what I'm spending my money on.

8. How many recurring fees do you pay each month - for things like cable television, Netflix, and DSL?
Well, there's the gym, and TiVo, and my "Bacon of the Month Club" membership, and...

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