Friday, September 08, 2006

The Money Personality Profiler

OK, obviously I am a little late on this bandwagon (Single Ma posted about it in JANUARY) but I took the Money Personality Profiler today, and surprise surprise I got:

Practical Domestic
The title we felt best suited you was Practical Domestic. When it comes to money matters you are responsible, realistic, accurate, careful, traditional, steady, practical, diligent, super dependable, dutiful, organised, orderly and decisive.

You enjoy spending on making life comfortable for your family and those who are important to you. You are often adjusting your spending to day- to-day events that make your life and work more satisfying for you and others. (This is pretty true. I like to spend my money on things for other people.)

You like nice physical surroundings and comforts. To you, home is valued territory. Your house is likely to be well-kept inside and out and meticulously maintained in a time-honoured traditional style. You love to spend on traditions and taking care of people and things. You like being with family and close friends and having special dinners and traditional family gatherings. (I wouldn't say meticulously maintained..)

You like structure and orderliness to your finances. You believe in saving and putting something aside against an unpredictable future. You want to get there by the most direct means, as indirect and open methods seem inefficient to you. You do better when you have a clear pathway and goal in mind, and have a definite plan that leads to progress charts and tangible records. (I ALWAYS want to have a plan, even if it changes by the month.. there IS a plan.)

You want knowledge and facts from financial advisers. (Although it will be a long time before I actually need one.)

Your Summary

You do well behind the scenes supporting any business you believe in. You are great with detail, bring follow through and focus to help things run smoothly. (I can't stand inefficiency. It eats at my soul.)

People seek you out as responsible guardians who bring structure and efficiency to a task. You remember to do the little things that need to be done to make a project a success. (Like stapling.)

You tend to find meaning in life by serving human needs and making others happy so investing in something you believe in eg. Using your investment to help others tends to feel most comfortable for you. (I have thought about SRI funds but I think I'd rather donate money directly in order to help people.)

Your Money Tips

We are all unique, but there maybe some potential blind spots that many people of your money personality style share. While thinking about the following suggestions, ask 'is this true of me?' If so, then ask 'how has it stopped me from being more skilled with money?' By being aware of your possible blind spots you can start to overcome them.

Don't miss out on future investments just because you are too caught up in the here and now. Don't get stuck in thinking there are no options for changing the status quo. Don't ignore gloomy, logical consequences just because they make you feel bad. Talk to people who have a more optimistic, future focus. The problem is you often think things will be worse than they are now if you tinker too much - but not necessarily. (Actually, my investments are all pretty risky since I'm young. But I won't buy stocks because I'm paranoid they'll go down.)

You are uncomfortable with uncertainty and lack of clear direction so select priorities carefully and work out clear steps. You are great at doing your research collecting facts. (Hells yes. Facts are what I specialize in.)

Try to be objective. A lot of your financial mistakes are because you have let your emotions get in the way. (I think I might be too objective...)

Take time out to consider your direction, purpose and goals. Try not to make stop gap decisions because you are unable to decide your long-term goals. Try not to neglect long term consequences. Check that your current plan still meet your needs five to ten years from now. (I will be checking my current plan every five to ten HOURS from now. I think things through OVER AND OVER AND OVER... it's fun!)

Try not to decide too quickly or be inflexible when making financial decisions. (OK, I do tend to jump the gun and want to do things NOWNOWNOW.)

Overall I think this is a pretty accurate description of me.. I like facts, I like efficiency, and I plan for things that have no logical need for a plan. Yep yep.


Sarah said...

Hi Kira,

I've been a lurker for awhile and just started my blog a week ago. I just gave you a shout out and took the money personality quiz on my blog. I hope you'll stop by!

Su Yin said...

Wooh! Funny that the Money Personality Profiler is from!

I've been trying to look for Under-30 financial blogs from New Zealanders but there are none. Or my Google search skills are not 733t enough.

So I read US ones, but a lot of things aren't applicable like 401(k)s — although a similar superannuation scheme is due to kick off next year — Roth IRAs, FICO scores and so on which annoys me to no end.

Quite like your stuff though.

mOOm said...

I sorted as an "Insightful Investor". Not surprising :)

To Su Yin - there just is far less personal finance / investing discussion in Australia than the US, and I imagine even less in NZ. I live in the US but have also lived in Oz (UK/Aus citizen).