Money personality tests

Here’s my current top 3 recommendations of online assessment tools for money personality types. They’re free, take less than 10 minutes to complete and each offers a different perspective from the other two.

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For the test that surprised me most with its usefulness, try the CNN Money Test. While the questions made little sense to me in terms of a general money personality test — weighted as it is towards questions about investing mixed in with questions where once again, I didn’t see my behaviour listed in the multiple choice options, the report was by far the most useful and practical. (If you want even more practical, you can also check your financial health at CNN.)

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Olivia Mellon’s test

Mellon is one of the very few advisors out there who’s both a money coach and a psychologist. Her test is a classic worth taking.

On the plus side, it offers a broad enough range of labels to reflect some of the finer nuances of money personalities. On the negative, there were several questions for which my behaviour wasn’t listed in the multiple choices.

For example, I am a saver or I wouldn’t have savings and yet I do not save regularly, I save whenever I receive a lump sum. That wasn’t one of the options.

Likewise, the borrowing question seemed strangely devoid of what surely can’t be an uncommon attitude towards debt:

When it comes to borrowing:

a) I try not to borrow money because it’s easy to lose track of paying it back.

b) It’s rare for me to borrow money, because I always have enough saved for emergencies

c)  I’m willing to borrow money to make money, but I dislike having lots of debt

d) I’ve borrowed money quite often, but I can’t say I’ve always paid it back.

e) I hate debt and would borrow only for absolute necessities.

My answer would’ve been that if we count mortgages, bank loans and credit cards, I’ve borrowed most of my life and always make the repayments. Surely LOADS of us have been or are in debt but do manage to make the payments?

Still, it’s definitely a useful test. My scored revealed I’m predominantly an Avoider with a streak of the Spender.

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Finally, for a different take, I highly recommend taking a look at Eileen Gallo’s test which highlights the different aspects of our relationship with money,

My one issue with the test is that the acquisition dimension asks how badly we want money vs how adept we are at acquiring it, which I think is the more pertinent question. Even so, Gallo’s model has been extremely helpful to me in thinking about the different financial habits and attitudes I’ve developed with respect to earning money, spending it and managing it.


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