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What's Your Money Personality: Are You A Movie Watcher, An Actor, or An Actor/Scriptwriter?

Most people are fond of watching movies—there’s always a genre that appeals to anybody. How good or bad a movie is relies on many different factors such as acting, storyline, and the audience’s emotional experience when they saw the film.
Do you know that personal finance, or the act of saving in particular, can also be related to movies? Here’s how:

Just Like the Movies

If you find saving a bit of a chore, then you can try to approach your personal finances from a different perspective. You can develop a movie-related money personality to define your attitude toward saving. But first, you need to determine your money personality as it is now.

Have you ever wondered why it’s hard for some people to part with their money while others can’t seem to stop spending? It’s because people have different money personalities. Relating personal finance to movies, we’ve come up with three types of money personalities:

Movie Watchers–This group of people is important because moviegoers are the ones who determine if a movie becomes a flop or a hit. It’s their money that turns a movie into a so-called blockbuster. Relating to personal finance, you are a movie watcher if all you do is spend and “watch” your money disappear, most of the time, without even knowing where exactly most of it goes.

Actors – In terms of finance, actors do save money at every opportunity but somehow, they don’t have the control of their finances. People under this type easily give in to their impulses and the temptation to spend on luxurious things and other whims.

Actor/Script writers – In movies, scriptwriters have a lot of control in terms of plot, the characters, and the ending. When applied to your money personality, actors/scriptwriters are those who are born to invest. They’re not in the habit of spending on things that could only give them momentary satisfaction. Savers under this group are the ones who have control of their finances.

Now that you’ve seen the three money personalities, where do you fit in? Do a further evaluation by looking at the following situations:

Money Personality Quiz

Below are some situations that may seem all too familiar. Check out each scenario and choose how you’re likely to act in each given situation:

1. It’s payday! You—

A. Go to the shopping mall for a dose of retail therapy.
B. Set aside a part of it for savings, and then go to the shopping mall and see if there’s something you could buy to reward yourself for your hard work.
C. Pay off my dues then put away the remaining money in my savings account.

2. You have billing accounts due on Friday. You say—

A. “I will pay my bills now.”
B. “Friday? Oh I still have time to go to the mall before the due date.”
C. “Maybe I should read through the bills first and confirm the billing dates before I pay.”

3. Are you willing to create a budget?

A. Maybe.
B. No, no. It’s hard. I can’t.
C. Definitely!

4. Where do you usually spend 50% of your money?

A. Necessities like food and groceries
B. Trendy gadgets and fashionable clothes
C. Food, clothes for work, and movies

5. If you won a RM 1000 shopping spree on any shop of your choice, where will you spend the money?

A. Grocery shopping
B. I would have to look around first and then make a decision
C. Books about finance or a special course to learn a new skill

6. When saving money, you—

A. Keep all your money in savings accounts.
B. Divide your money (30 percent for savings, 70 for expenses).
C. Create a budget plan.

7. Which of these choices will make you feel good?

A. Checking how much money you have on your passbook
B. Having a new gadget.
C. Securing the future of your kids by getting the best insurance

8. For you, credit cards are—

A. For emergencies and should be paid in minimum
B. Convenience when shopping for items
C. Should be used occasionally and an alternative way for paying the bills

9. You see an item you want to buy but can’t afford with the cash you have with you. You—

A. Will save for it and then buy it, or just wait for it to go on sale.
B. Will just use your credit card
C. Will squeeze your budget a little to make room for it

10. Should you avail of an insurance?

A. Maybe
B. No
C. Yes

Tally how many times you answer A, B, or C. The letter you chose the most number of times will determine your money personality. Check out the findings below:

Money Attitude # 1: Movie Watchers (Savers)

If most of your answers are A, then you are one of the Watchers, people who can be good savers and possess the ability to save up money for things they want, whether for retirement, an upcoming trip, for insurance, or for an expensive item. The people who fall under this money personality type can give in to temptation or resist the tug of their impulses—in equal measures.

The problem with Movie Watchers is that they aren’t so good at managing their finances. They don’t properly allocate how much money should go in and out. If you have this type of money personality, you have the tendency to indulge sometimes, and completely deprive yourself of enjoyment at other times. You live for the moment—and while this comes with rewards—your choices could be stopping you from taking advantage of investment opportunities that come your way.

Money Attitude # 2: Actors (Spender)

You are a spender if most of your answers are B. This is one of the common traits to most people. If you’re an impulsive shopper, then your personality definitely falls under the Actors group.People with this kind of habit have a tendency to spend all their money without saving anything. This often leads to paycheck-to-paycheck living.

If you have this type of money attitude, you may have the ability to save but still find it hard to resist the urge not to touch funds you set aside for savings. You may also have the tendency to splurge on things that aren’t exactly basic necessities.

If you have the Actor type of money personality, you are likely an optimist; someone who is not afraid to whip out your credit card in case you fall short of cash. You’re confident that you’ll always find a way to pay for the things you want—and your credit card bills—without really having a concrete plan on how to do just that. If you’re unable to curb your impulses, you can find yourself in deep financial trouble soon.

Money Attitude # 3: Actor/Scriptwriter (Investor)

If you mostly have C’s on your answer, then you have an investor type of personality, a combination of being a spender and a saver at the same time, which strikes a good balance.

Having an Actor/Scriptwriter money personality, you can control your impulses and have the will to save money for long-term goals. You may be a frugal saver and can even possess the ability to influence and teach others about saving and investing.

Win the Money Game

It’s not too late to develop a healthier money personality for yourself today. If you’re a spender, you can definitely still change your spending habits and be more thrifty. Make it your goal to try to be more of an Actor/Scriptwriter when it comes to managing your finances.

Write your script—or in other words, a budget plan—with your preferred ending in mind. Do you want to end up being broke an relying solely on pension when you retire? Or do you want to grow your wealth by saving and making investments as early as now? It’s up to you to decide.

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