Self Analysis Test

If you are unsure about whether or not your spending habits are likely to see you in debt trouble any time soon, take the test below and get a better picture of where you stand.

1. When it comes to holidays...
A. I love to plan every detail and expense
B. I try to make them as inexpensive as possible or do not take them at all
C. I plan for it to cost within a range because I know what I can spend
D. I don't plan at all, the whole point is to have fun and relax isn't it?
E. I just hope that I have enough to pay for it

2. At the end of each month...
A. I always seem to end up short and struggle until pay day
B. I can tell you how much I will have left almost to the cent
C. I am never sure if I will come out a bit ahead or a bit behind each month
D. I don't keep track of my money too closely, but I know that I will come out ahead each month
E. I end up going against my budget in order to buy things that at that moment I think I have to have, but it works out somehow

3. My money goal is...
A. To save as much as possible
B. To have enough to pay for my basic needs and have some left over to save or invest
C. To have enough to buy whatever I want
D. To be able to treat myself every now and then
E. I don't really have any goals

4. If someone gave me a R100,000...
A. I would be thrilled and try to figure out how to make it grow while using it for my own enjoyment
B. I would be very excited because now I could get anything I wanted
C. I would want to save and/or invest it, but would likely take a big chunk and splurge on myself and loved ones
D. I would have no idea what to do with it
E. I would carefully explore very conservative investments and/or put it in the bank

5. Which of the following statements most accurately describes how you use your credit cards?
A. I hardly ever use them and when I do I pay them off in full
B. I probably use them too much, but when I do I pay them off immediately
C. I use them for most purchases and pay off what I think I can afford that month
D. I sometimes regret spending a little too much and end up paying them off over a few months
E. I use them often and pay off the bare minimum. It allows me to buy the things I want when I want to and then pay them off over time

6. Saving Money...
A. I look to save between 10-15% of my wages each month
B. Is hard. It seems that as soon as I get a little put away, an unexpected expense comes up and I have to take it right back out again
C. Would be great, except that saving is for later, right now i need to pay my bills
D. Is something I try to do regularly. I try to put aside the same amount each month, although there may be some months where it is a bit higher or lower than usual
E. Is something I think I may have read about in a book once

7. My investment philosophy can be described as follows (even if you are not investing, imagine how you would be):
A. I don't believe in investments; I keep everything in the bank
B. I analyse each investment very carefully and tend to be very conservative
C. I analyse investments carefully and tend to have a balanced portfolio of somewhat conservative and somewhat risky ventures
D. I go by my gut, my investments tend to be on the risky side
E. I get very nervous and confused when thinking about investing

8. My budget...
A. Is fun! I love playing with it each month and making sure that everything has its place
B. Could use some work. No matter how hard I try, I just seem to come up short or to barely make it each month
C. Is usually pretty accurate. It's not something I necessarily love doing, but I do feel good about making it work
D. Is something that I get very nervous thinking about or doing
E. Is something I don't understand or put into practice

9. When it comes to retirement...
A. I am very systematic about planning for my future and feel reasonably confident that I will have enough to retire comfortably on
B. I may not always save as much as I could or should, but am saving on a consistent basis and feel pretty confident that I will not have any problems
C. I am worried as I know I need a pension but do not know how to get one
D. I am quite anxious, as I don't have any savings for the future and don't really know where to turn to in order to learn how
E. I don't have any savings but am not too worried, the future will take care of itself

10. When I bought my car...
A. I bought what I liked and worried about the cost later
B. I ended up spending more than I had planned
C. I found a compromise between what I wanted and what I could afford
D. I very carefully researched every detail, ensuring that it would fit into my budget and made sure that I got exactly what I had planned
E. I didn't really do any research, I was more worried about whether or not they would accept me for financing

Results:  Click the calculate button to find out how you did.

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