Personal finance can be complicated, and everyone’s approach to money differs. While some people display their wealth as a status symbol, others save due to caution or the desire for financial stability. This quiz gives a brief overview of financial personality types. Use it to find your type; savers may want to learn more about investing, while investors could benefit from lessons on risk and diversification.

About the personalities

Peacock

These individuals typically appreciate material comforts and place importance on presenting a successful image.

It is advisable for them to consider allocating resources for future needs, as this can support long-term financial stability. Establishing a consistent saving habit each month may help address potential future expenses.

Lone Wolf

Lone Wolves value independent financial decisions and typically consult advisers to confirm their choices rather than to seek new insights. However, their confidence can lead to under-diversified investments, increasing risk during market volatility. To reduce this risk, they should consider broader diversification and consult experts when necessary.

Ostrich

Individuals who tend to avoid complex financial decisions and intricate financial planning may be reluctant to move beyond their established comfort zone. While this cautious approach is understandable, it can result in increased vulnerability to unforeseen financial risks.

It is crucial for such individuals not to rely solely on chance or optimism for their future financial security. Proactively seeking professional advice regarding important areas of personal finance, such as future planning and claiming eligible tax refunds, is advisable. This also includes establishing a retirement savings strategy and ensuring access to all applicable tax reliefs.

Squirrel

For Squirrels, money represents financial security. They often seek bargains and tend to save money regularly.

It is important for them to recognize the effects of inflation on the value of money over time, as keeping funds in low-yield deposit accounts can diminish their value.

Exploring a range of diversified investment options may help mitigate the impact of inflation.

Black Cat

For the Black Cat, life challenges can shape a cautious approach to finances. Previous circumstances have impacted their financial resources, resulting in frequent low monthly bank balances.

To improve future financial stability, it is advisable to create a financial plan and seek professional support when needed.

About MoneyWhizz

We are Ireland’s top provider of financial education and content, partnering with employers on topics like pensions, savings, investing, mortgages, and taxation.

We also offer curriculum-aligned financial literacy support for both Junior and Senior Cycle secondary schools.

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