This Quiz Reveals Your Money-Saving Personality (and Its Pitfalls To Avoid)

I have a gross confession: I love talking about money—my personal finance goals, my desire to be financially secure, my plan to get there (which is usually discussed while devouring an overpriced takeout dinner with my roommate). I am my own worst enemy, but talking about money with other people helps me as a chatty financial extrovert, one of the eight financial personality types in Fidelity’s Money Personality Quiz. Oh, you didn’t know that there were financial personality types?

The Money Personality Quiz helps diagnose how you navigate the world of finances—and where you might be a little weak. It’s a simple way to overview your common habits and reassess your outlook when needed. For example, it’s good that I seek the wisdom of others; without it, I get a little too deep into retail therapy. On the other hand, not everyone is a financial wizard, and my roommate’s advice when I ask “Should I buy this?” will always be “Treat yourself.” So you see the problem here.

So after you take the quiz, scroll down to see each kind of financial personality type, and how the pitfalls of each can best be managed.

Learn more about your financial personality type

Extrovert

This is anyone who isn’t really afraid to talk about money. It’s a regular part of your conversations, and you like to seek financial advice versus flying solo with others. If you’re a fancy, you might be into an Investment Club, or you might benefit from getting a budget buddy to keep you accountable.

“Don’t just follow the crowd,” says Kelly Lannan, who serves as vice president of young investors at Fidelity Investments. “Although talking with others about money is a great way to learn new strategies, some financial advice might not be the right fit for your personal situation. Consider speaking with a financial professional or using a financial advisor as a sounding board for your ideas before you move forward with them.”

Adventurer

Adventurers are financial risk-takers, those who are looking to optimize and expand your financial portfolio. You might have some eclectic stock options, or maybe you put your money into bizarre genius start-ups. Sometimes it works out. Sometimes.

“Be cautious of ‘hot trends,'” says Lannan. “While Adventurers are likely to diversify your investments, it can also create too much risk in your portfolio and might undermine your ability to reach your long-term financial goals.”

Planner

The planner does exactly as expected. If you’re a planner, you’re someone who lives and dies by structure, and always has their budget calculator out (even if it’s just on your iPhone). You know exactly what’s in your savings account and keep track of every digit spent or save. You are that beautiful unicorn that has a hard five year plan of what you’re going to do with your money, and it’s pretty rigid.

“Trust your plan and don’t overthink it—you put it in place for a reason,” says Lannan. “Reward yourself occasionally and splurge on something that would make you or your family happy or save you valuable time.”

Solo Flyer

If the idea of a shared bank account makes you clutch your pearls, you’re probably a Solo Flyer. You lean towards technological options when it comes to money management and advice, you kind of don’t want others in on the dialogue. Also, chances are you’re faithfully subscribed to a financial podcast. I get it, but know you don’t have to be alone in this.

“Though talking to someone about your finances might sound uncomfortable, it never hurts to get a second opinion,” says Lannan. “There’s no limit to the amount of good information you can mine online, but everyone’s personal situation is different. And, many financial firms give you the option to speak with someone over the phone or even meet by video.”

Defender

Your eyes are glued to the market, and you’re always a little protective of what might happen nexts. You’re more likely to back off from a financial investment the second it no longer looks desirable.

“Take a deep breath — consider when you actually need to withdraw the money,” Lannan says. “While pulling money out of a falling market could help you avoid further losses in the short term, history shows that reactionary changes to long-term investment goals will likely lose you money over the long haul.”

Skeptic

Finally, Skeptics are the many of us who have felt the crushing financial inequity of being a millennial (or living in America during its most recent economic hardship). You fear the future, you expect the worst, but on the upswing you’re protective enough with your money that you’re not going to invest in anything without reason.

“To manage volatility and help grow your money at the same time, consider diversifying—spreading your money across different investments—with a mix of stocks, bonds and cash savings that you can be comfortable with over the long term,” says Lannan.

Creature of Habit

Creatures of Habit adhere to classic money saving schemes, and don’t focus on a lot of risk. You’re good at staying the course, but if something blows up, then there’s not much of a back-up plan.

“Your preference for familiar investments could lead you to put too many eggs in too few baskets,” says Lannan “For example, many people invest too much in their own company stock or a brand they love. That’s why diversification—spreading your money across different investments — is so important.”

Optimist

You’re willing to invest your long-term savings in the stock market, trusting that it’ll inflate over time. Your positive outlook keeps you from bugging about money.

“While optimism and confidence are positive in general, being too optimistic or confident can make you trade too much, take on too much risk, and blind you to the reality of how your investments are performing,” says Lannan.  “An annual review of your portfolio might be a good gut check to compare your positive perception with an actual analysis of your accounts.”