Understanding what’s behind your financial decision-making process is the first step toward successfully changing your behavior. The LifeValues Quiz will help you find out what you value and determine how those values affect your financial decisions.
Values and Behaviors
Financial decisions are not made in isolation. People’s values, whether they pertain to long-term security or an appreciation for status cars, significantly impact what they do with their money.
If you’ve always spent your money to make your home beautiful, you’ll probably score high on physical values.
- If you’ve taken great trips throughout the world but don’t have a single decorator pillow in your apartment, your physical value score is probably pretty low.
Conflicts in Values
People don’t fall into one value realm or the other. Everyone has a mix of values: some work together, some conflict.
- You might want to buy a hybrid car because you value the environment, but you also might feel yourself leaning toward a gas-guzzling SUV because you’re the family chauffeur and you want to identify with all the other soccer moms in the neighborhood.
- Other people prioritize inner values, contributing to an emergency savings fund because it gives them a sense of security. But those saving tendencies can sometimes conflict with a social desire to travel with friends or a physical value to buy their children a new wardrobe each school year.
Values also change throughout a person’s life. So you should take the LifeValues Quiz every time you go through a significant life change.
- When you’re young and single, spending on fun with friends (high social, low physical) might be most important to you. But for many people, those values take a backseat when they get married or have their first child.
Regardless of how much money you have, your values — and conflicts in values — affect your financial decisions. But if you recognize what is driving your financial behaviors, you will have more control over your financial well-being in the future.