What are your financial values? When we know what are values are and what is important to us it is easier to understand why we spend our money the way we do. To learn more about your financial values take the LifeValues Quiz.
The quiz consists of 20 multiple choice questions pertaining to the four LifeValues. They include Inner LifeValues, Social LifeValues, Financial LifeValues and Physcial LifeValues.
Inner values include our identity and social identity. From a financial perspective they frame the behaviors that lead to financial security. Inner values also shape our sense of purpose and meaning in life.
Social LifeValues are about “belonging” and relatedness. Our desire to be with others or to be a loner affects our living and working habits. Also, providing for others, budgeting jointly and sharing expenses are part of this area.
Financial LifeValues are about money and finances. They reflect what we think or believe about our money and financial affairs more than how much money we actually have.
Most people, regardless of their educational level or financial situation is concerned with three things. These are “Do I have enough”, “How long will my money last” and “Is this the right choice for me?”
Physical LifeValues are about the tangible aspects of life: the external world as well as the state of our physical health and well-being. Such values relate to the amount of space we need to feel comfortable and the degree to which we are satisfied and fulfilled by aesthetic stimulation and material possessions. Physical values involve the actual health of our bodies and the measures we are willing to take to secure that health, but they also are about our desire for beauty and comfort.
So once you determine what you value you can see more clearly why you are spending your money the way you do and if there are things that you can give up that are not as important to you.