Handling Money
Can You Handle Money?
What would happen if someone gave you $100 today? Would you be more likely to start thinking of ways to spend it? Or would you want to save it? Everyone has a "style" for the way they handle money.
- Some people are "born to shop" and they love to spend money.
- Some are careful planners who feel it is important to save money.
What's Your Style?
Being a spender or a saver is not good or bad — but either behavior can get out of hand. Excessive spending can lead to bankruptcy. Excessive saving can turn you into a miserable miser.
So let's suppose someone really did give you $100 today. Below is a list of ways you could use the money. Pick the three options you like the best and add up your score. Then see what your choices show about your style for handling money.
___ Buy a new outfit for a party (1 point)
___ Open a savings account for college (5 points)
___ Take my friends out to the movies (2 points)
___ Help my parents pay the bills (3 points)
___ Get a cell phone (1 point)
___ Buy some school clothes (2 points)
___ Buy a savings bond (5 points)
___ Get tickets to the hottest concert (1 point)
___ Spend $25 for fun and save the rest (4 points)
___ Pay back the $100 my brother loaned me (4 points)
___ Add some money to the family savings account for emergencies
(5 points)
Your total score: _____
Rate Yourself!
- Super Saver: If you scored 12-15, you are a careful money manager who prefers to save your money for the future.
- Balanced Manager: If you scored 7-10, you don't mind spending money on things you need, but you also think about the future.
- Super Spender: If you scored 3-6, you like to spend money now and let the future take care of itself.
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