It seems like since I went back to school all I worry about is tests. Well, this morning, I took a particular type of test that I acquiered from INVESTOPEDIA. I did the test to find out what my money personality is. Interestingly enough, I've fit one of the personalities at one point or another. For example, when I started working I was a spender, loving fancy clothes and fancy dinners, a shopper, worried about my addiction but always captivated by a great deal and now I am a saver (a bit of a shopper once in a while). Its funny how my experiences have taken me from one extreme to the other.
I am very careful with money now. I went through a horrible phase 2 years ago (typical spender/shopper behaviour), where I was spending everything I made and saving very little. Then the expected unexpected happened: I lost my job.The thing was, I had just finished paying my credit card bills, I had a bit more to pay, but I didn't have any savings. NO SAVINGS. Needless to say, this left me a little restless. Fortunately I found a job a couple of days after (the power of networking) but ever since then, I started saving as much as 50% of my paycheck for a rainy day. I also got a second job so that I could pay travel expenses and support my addiction to all things dance.
Recently, I've made the decision to go back to school, so I had to look at my budget and re-adjust it. Dance had to go, travelling plans suspended (for now), eating out had to be cut down, cell phone plan changed to a more cost efficient one, clothing & book expenses shut down (I'm not allowed to go to the mall) and cabs perpetually banned. I've officially entered the saver zone. Yes, I get upset when my roommates leave the lights on and walk out of the room and I rarely use my credit card. If I can't pay for it now, I don't buy it.
The article also highlights what you can do to balance yourself out. Now that I am conservative saver, I should try and relax a little (although the thought of relaxing stresses me out) and live a little. Most importantly I should learn how to invest properly and learn how to minimize risk while maximuzing results in my investments. I guess the more I learn about investments the more I will change into an investor/saver, which is ideally where I would like to be.
What ever your personality is, its so important to learn about your money. Talk to your parents, talk to your bank, take courses, learn as much as you can, save as much as you can (ideally no less than 20% - for women).
RESOURCES:
To find you Money Personality click here
For great Budgeting Tools click here
Tips on Saving Money click here
And if you've found the love of your life, read this
Posts
You have saved 50% - you go girl. Ok now, I have to have a look and see what I can save!
Obviously not every month, but I try my best.