What is your financial personality?
Despite writing about budgeting and being thrifty I am not a paragon of virtue when it comes to money, and I, like many people, have financial flaws.
I am not always sure quite where things go wrong for me but I do know three is never enough money left at the end of each month or in the saving pot.
So what are my financial strengths and weaknesses?
I was intrigued to undertake the financial personality test using Aviva’s financial personality tool.
OOh there were a few questions that really made me face myself and my flaws, particularly the ones about saving..my best intentions do go awry!
The results? well I’m a bit of a mixed bag (and I would totally agree with that ) apparently I am a super -stretcher.
It is rather spookily accurate. I do over-spend on my family and I do try and make my money go absolutely as far as it possibly can. My intentions are great, as I say, but then…well temptation to spend on others just comes along and I blow it.
It was really useful doing this quiz actually because unless you do ask yourself the hard questions you cannot pinpoint the problem areas and consequently focus your energies on improvements in these areas.
So what can I do about my impulsive over spending and poor saving skills?
Well I have had a good think and I think in regard to overspending I need to:
- draw up a list of other ways to spoil my family that are not financial e.g cooking my OH his favourite tea, or playing Mario with my son, or letting my daughter have a friend over for a baking session
- I need to hit the charity shops and fill a surprise box with new to us DVD’s, games and books, still treats but inexpensive ones!
- I need to pause before I answer my kids requests, give myself time to think and process whether I can really afford something or not.
In regard to saving I need to:
- Make it a regular commitment to saving each month, even just a small regular commitment, so it becomes a habit
- Have set goals in mind
- Check where I can cut back on my daily expenses to free up some cash ( I am pretty good at this but an overhaul every now and again and a fresh look is essential!)
I think figuring out your financial personality and then committing to positive changes is really useful.
What financial personality type are you?
Keep you eyes peeled for a follow up post next week full of saving tips as I try and mend my ways!