Moneytest

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Do you handle money like Scrooge McDuck, Charlie Brown, Happy-Go-Lucky or a moneymaker? Try this test and find out.

Do you understand the language of the stock market? And do you know how to deal with shares and bonds in a useful way? 

The test reveals what your attitude to money is. It is quite simple: a click of the mouse takes you from one statement about money to the next. Make a quick decision, only your gut feeling counts. 

Money Personality Test

I developed the Money Personality Test several years ago for the MoneyMuseum and it’s still very popular today. Why? Maybe because it asks questions that we all think about but rarely answer. There are no right or wrong answers in this test. It asks for your gut feelings, your emotional response. And that’s important. I will explain it to over the next five minutes.

I’ve introduced the various money personalities elsewhere, but let’s quickly review them. Money Personality types are generally pairs of opposites. There is the obsessive Scrooge McDuck, who is the opposite of Happy-Go-Lucky when it comes to their emotional relationship with money. And the Charlie Brown type, who is not much interested in money, is the exact opposite of The Moneymaker, who approaches money rationally but is not obsessed with it.

At the MoneyMuseum, we see ourselves as coaches of The Moneymaker-type personality; someone who’s willing to engage with money and recognizes its benefits but is at the same time emotionally detached from it.

The fact is that for every Happy-Go-Lucky there are eight Scrooge McDuck types. That’s probably due to our monetary system. Of course, money means a lot in our society. But people who appear to have enough of it often seem more anxious than those who have less.

Our test is in two parts, each with 15 questions. The first group of statements assesses your emotional relationship to money; the second group tests your knowledge and understanding of what money is and how it works.

Now, to the Test:

• “Financial transactions are a dirty business”

We can only say: this prejudice contributes little to filling your wallet.

• “Money-related matters are a necessary evil”

This attitude assures you will have absolutely no fun earning money. So change that attitude.

• “Money is mostly misused as power”

The key word here is “mostly,” giving the whole sentence a negative twist. Certainly, anyone who sincerely believes this faces big obstacles on the road to prosperity.

• “Easy come, easy go”

Those would be the words of Happy-Go-Lucky or Charlie Brown. Neither makes much effort to improve his financial situation.

“Money flows to the strong and the confident”

In the I Ching, the Chinese Book of Wisdom, abundance is described as: “Inner clarity and outward movement yield riches.” A good idea, a clear vision, honest self-awareness and strong actions form the foundation for success.

 “I regularly keep track of financial markets”

If you want to invest successfully, you have to inform yourself and not leave everything to your broker.

• “Money is like love: you loose what you try to keep”

Scrooge McDuck was never lucky in love, probably because he handled people like objects. You have to love money but not as an object; rather, for the possibilities it creates. It’s important that you don’t over-identify with money or base your self-esteem on how much money you have. You must keep an emotional distance toward money, to be free, exactly as in love.

• “Money can only grow if it’s wisely invested”

Better to teach a man to fish than give him alms. Those who have not yet achieved success need role models and coaches who can help them. And long-term profits can only be achieved by truly sustainable businesses. Lately the world’s central banks have taken another route to money creation: They’ve simply created it out of nothing. A quick fix perhaps, but not a sustainable approach.

• “I don’t worry about losing money”

This statement exposes your most basic feelings about money. Is money a source of anxiety for you? The Beagle Boys are always trying to steal money from Scrooge McDuck. Scrooge fears the gang eventhough he manages to outwit them. For us the important lesson is that fear is a poor adviser.

The next statement goes in the same direction:

• “I will always have enough money”

Having a firm belief in your ability to generate enough money, where ever you are, with your talents and skills is vital to your personal sense of well-being.

• “In a profitable company give and take always balance each other out over the long term”

The key notion here is “over the long term,” because imbalances between giving and taking always appear in the short term. In that sense they are a gift because imbalances lead to further transactions. But, again, any imbalance should be corrected over the long term or it would lead to excess.

In our Money Personality test, you are asked to respond quickly and spontaneously to 30 such statements, presented in a random order. You can take the test online at www.moneytype.ch. Don’t think too much. Just let your feelings guide you!