Zuwa Money Behavior Quiz

You are driving on the interstate, on your way to a big family gathering (your cousin’s wedding) in the neighboring state. You suddenly hear a big popping sound followed by a hollow “whooshing” sound coming from the rear of your SUV. The sinking feeling in your stomach signals, “this is not good.” You pull over to a safe area to inspect the damage. You immediately notice that one tire is completely blown. The other has a shard sticking out the side. The warranty on your tires has long since expired, so you call the emergency road service who dutifully tows you to the nearest tire shop. The proprietor confirms what you already knew. You have two bad tires instead of one. The owner offers you choice of a medium grade tire for $200 or a premium grade tire for $350. Both look great on your vehicle. The tire shop offers financing, with good credit. You are in a bit of a hurry to get back on the road. Which of the below best describes your TYPICAL reaction to the situation?

Ask the store owner if he has a lower priced tire available that could serve the same purpose and write a check for the lowest priced tires plus installation.

Tell the store owner, you want to purchase two of the premium grade tires and put it on your American Express.

Ask the store owner to provide more information about the tire choices. You then sit in the waiting room and compare the tires he proposed to others carried by providers in the vicinity before making the purchase. By the time you finish, the wedding is over.

Ask the store owner if he has a better tire than the premium that was offered, apply for store credit, and get denied because you have too much credit already.

Tell the store owner they would prefer a used donut that will get them by for a few weeks, then call the cousins to borrow some money via cash app from their cousins so they can make it to the wedding on time.

Tell the store owner to replace all four tires with the premium grade because they want their tires to match. Then ask to apply for store credit.

None of the above

Imagine that you and your five siblings unexpectedly inherited $10,000 dollars each from your Aunt Sophia, who you have never met before. Aunt Sophia was a well-known educator who used to live in the state of Massachusetts. She never had any children of her own. Aunt Sophia wrote each of you a note expressing her regret at having never met you. She hopes that you will do something of long-term significance with this money in honor of the possibilities for your relationship, had you ever met. Each of you has your own way of dealing with this money. Which of the behaviors below do you most identify?

Sibling number one places their money in a certificate of deposit at the local credit union that pay 1.4% interest.

Sibling #2 looks far and wide for information on investing. He speaks to financial advisors, reads books on finance, looks Utube videos on investing, but gets exhausted by the process. Ultimately sibling #2 just leaves the money in a non-interest bearing checking because they were unsure about what to do.

Sibling #3 takes all 10,000 and invest in a new cryptocurrency that is trending on social media.

Sibling #4 places all $10,000 in their checking account. Over time sibling #4 spends the money down because they never meet with anyone or take any action to invest the money. It just gets away over time without ever being invested.

Sibling #5 buys a new wardrobe, new jewelry and has a gathering at the hottest club in the city where they buy champagne for their friends to celebrate this unexpected windfall.

Sibling #6 plans the shopping spree of a life time, hitting Rodeo drive, a place they’ve always dreamed about to shop. Sibling #6 is a little disappointed because that $10,000 did not go very far on Rodeo Drive so the shopping spree was cut short.

None of the above

Your very best friend is concerned about your long-term finances so this friend buys a $2,000 dollar Groupon for financial advisory services worth $4,000 from a local, well-known financial advisor. Your friend grants it to you as a gift. How would you react to this under normal circumstances? Think about your conduct in the past.

I will schedule to meet the financial advisor but I will more than likely not take their advice. I don’t really trust any of these people. All they want is my money.

I would ask Groupon to refund the money to me directly because I prefer to go shopping. Sitting down with a financial advisor is a non-starter. My finances are beyond help anyway. My friend needs to mind her own business.

I feel very uncomfortable about sitting down with a financial advisor. We probably know a lot of the same people. You know how people talk.

I am way too busy to make time to see the financial advisor anytime soon. Besides, a financial advisor probably can’t do much for me anyway.

I need to read up on this financial advisor before seeing them. I can probably advise myself if I study the information enough. Why Bother? I don’t really have enough to see a financial advisor anyway.

Financial advisors are too conservative for me. I will meet this person once to hear what they have to say. If they can’t show me how to get rich fast, I’m out. I can do better by myself.

None of the above

You are starting a new business, and are looking into investors. Daddy Warbucks is interested in investing, but he wants to take 52% ownership of your company. How do you feel?

I would rather look into finding other investors before I make a final decision. Before I make a final decision I would want to see what all of my options are, and whether or not this is a fair business deal. I’ll make a decision next week.

I love the idea! Sign me up! This way I can be sure to make money without spending a lot of my own. Now I can start focusing on my next big money venture because this one is in the can. The money never sleeps, and neither do I!

This is kind of overwhelming. I don’t want to make a bunch of financial decisions. I’ll take the deal because he can do it for me.

I don’t like to take financial risks, and this seems risky. What do I actually know about him and his business? What does he benefit from this? It’s too risky to give him ownership of my company. I’ll pass.

This would create so many branding deals! To be able to say that I’m partnering up with Daddy Warbucks will open so many doors. I could be the next big thing! He can take it as long as I can work on our advertisements!

I am not comfortable with this deal, but I don’t know who else would invest. I would rather negotiate a more fair business deal where he doesn’t own 52% of my company. Maybe 49%? Or 40%?

None of the above

You own a timeshare in a fabulous ski resort. You love your location. You go there every year. This time you decide to trade your time for the Orlando, Florida Disney vacation. It’s a beautiful resort. The only inconvenience is that they bug you to sit through a sales presentation about that location. Your base location is the crown jewel of the entire timeshare industry. You can go almost anywhere for free because it is easy to find people who want to trade with you. The sales team is running a special today. They offer complimentary rental management of your timeshare if you purchase a Florida timeshare to go with your ski vacation condo. How do you react to the sales pitch?

I’m excited to buy a new timeshare in Orlando. I don’t want to return to Orlando because I never go to places more than once, but this will give me the opportunity for more frequent vacations at different locations.

I am not inclined to spend a penny more on timeshares. I have a premium timeshare already. These people are always trying to sell me something else, how irritating. One is more than enough.

I’m not completely sold on this “buying a timeshare just to rent it out business!” Do I really need a second timeshare? Is the additional income worth me afinancing this timeshare and paying interest? How did this work for the other people who did it? I need to look into this a little more.

I don’t know if I want to buy another timeshare. I will get back to you because honestly, I just came for the free tickets to Disney. I am one short because I forgot to order it before I left. It’s difficult to get them right now because the lines are so long. Thanks.

I’ll take it! I can turn this timeshare into an Airbnb and the team will manage it for me. This is exciting. I can make more money without having to do any work myself. Let’s do it!

I’ll take it! I can have a second timeshare so I can entertain my friends in multiple locations instead of just renting it out! I want to buy it immediately!

None of the above

You magically have a hundred thousand dollars in your hot little hands! You agree that the smart move is to buy a house. The home that has piqued your interest is $400,000. You have already qualified for financing because you have such a big down payment. These are your options:

If you take the FHA financing with 3% down ($12,000): payment is $2,165 monthly

If you take conventional financing with 10% down (40,000): payment is $1,918 monthly

If you take conventional financing with 20% down ($50,000) payment is $ 1,436 monthly

Which of these scenarios most closely resonates with you?

I would rather put the entire $100,000 down on the house. I have a lot of money in the bank. The house is a good second investment because it is one of the safest investments I can buy. My bank will give me a really good rate because I am so reliable. I will probably pay it off early because I really hate interest.

I would put the 3% down because it leaves me with $88,000 I can use to invest in something else so I can make some real money on my money. The appreciation I would earn on a primary residence is okay, but not enough as far as I am concerned.

I prefer the 20% down scenario. I don’t want to pay private mortgage insurance at the rate of $200 per month. A home has been a good investment for lots of people for many years, so there is not a whole lot of risk associated with it. Besides, I am going to have the benefit of living in it. It’s a no brainer for me. The monthly payment for the 20% down scenario is good for me.

I like the 3% down scenario because It leaves more money for housewarming activities, family gatherings and business networking events. The payment is higher but it’s just a different kind of investment. I will get a better job by using the remaining $88,000 this way in stead of tying it up in a house.

Unfortunately, by the time I made a decision about the down payment plan, the house was sold but it’s okay. I will look around for another home. Since then, I have been so busy, I haven’t had time to even look anymore.

I don’t know which to choose. What did everyone else choose? Let’s do that. It’s safer to go by popular opinion. It can’t be wrong if everyone else is doing it.

None of the above

Zuwa Money Behavior Quiz

More Quizzes