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Needs vs. Wants Priorities Quiz

Instructions:

For each question in this spending priorities quiz, choose the answer that feels most true for you. At the end, tally how many A, B, C, and D answers you chose to find out your spending style.

Questions

1. When you encounter an unplanned purchase you desire, you generally…

  1. If it doesn’t cost much, go ahead and get it. 
  2. You take a moment to consider it, but if the urge doesn’t go away, you tend to buy it. 
  3. Save it to your wishlist for future consideration. 
  4. Ignore it unless you truly need it for something important. 

2. When you map out your spending for the week, you mostly focus on…

  1. I focus on getting through the week and figure things out as I go. 
  2. Paying my bills but still leaving space for a couple of fun things. 
  3. I follow my spending plan carefully and don’t deviate much. 
  4. I prioritize my needs first, cover my wants, and then save the rest. 

3. If an unexpected $200 landed in your lap today, what would be your first move? 

  1. Use most or all of it to buy fun things I’ve had my eye on. 
  2. Spend a small portion on fun, and save the rest. 
  3. I’d save it all for something that really matters or a long-term goal. 
  4. All of it would go toward paying bills or saving. 

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4. When operating under a constrained budget, how do you scale back your spending? 

  1. I try to prioritize my needs over my wants, but it’s really hard to cut back on things I want. 
  2. I make modest reductions from both needs and wants. 
  3. I reduce non-essential spending first, but let myself have little indulgences. 
  4. I immediately filter out what’s unnecessary and focus on the essential. 

How are you doing on this spending priorities quiz? 

5. How frequently do you convince yourself that a purchase is a necessity?

  1. Most of the time, everything feels urgent when I’m deciding. 
  2. Sometimes, I prioritize my needs, but I still let wants get in the way. 
  3. Rarely. I typically know what’s a need and what’s a want. 
  4. Hardly ever. I rarely blur the line between what I need and what I want. 

6. When your bank balance is running low…

  1. I avoid looking at my balance and cross my fingers. 
  2. I keep my eye on it and make short-term adjustments.
  3. I watch my account and shift my money with clear intent. 
  4. I already know where I stand because I prioritize my needs vs wants and monitor my balance often. 

7. When making a significant purchase, say, electronics or a vacation — you…

  1. I make the purchase right away because waiting is frustrating. 
  2. I do some research, but usually purchase earlier than intended. 
  3. I do detailed research and gradually save money before making the purchase. 
  4. I make a purchase only when it works within my budget. 

8. What’s your reaction after you spend impulsively? 

  1. Mostly happy and excited, though sometimes a bit guilty. 
  2. Mixed feelings. A blend of fun and regret. 
  3. Unaffected. Impulse spending is rare for me. 
  4. Unsettled. I like to spend intentionally. 

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9. Looking back at last month’s expenses, what catches your attention? 

  1. It surprises me how little indulgences can add up. 
  2. I see a combination of needs and a few wants, and I’m pleased with my prioritization. 
  3. The majority of my spending aligns with my plan. 
  4. Almost all my spending fits within my needs-focused budget. 

10. When a friend invites you to an unexpected, fairly costly event, you…

  1. I usually say yes. Memorable experiences matter more than sticking strictly to the budget. 
  2. I go most of the time, but tighten my budget in other areas to balance it out. 
  3. Make sure my budget allows it before deciding. 
  4. If it’s outside my budget, say no, without feeling guilty. 

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Results: Which Type Are You?

Want to know how you did on this spending priorities quiz? Count your A’s, B’s, C’s, and D’s.

Mostly A’s: The Want-First Spender

You favor experiences that are enjoyable and immediately rewarding. In the moment, wants often feel like needs, and I do not prioritize either. 

Growth path: Try the 24-hour rule. Waiting 24 hours before buying helps distinguish between short-term urges and real needs. Also, if you don’t have one set up, build up an emergency fund to ready your finances for future financial emergencies.

Mostly B’s: The Balancer With Blind Spots

You make an effort to weigh and prioritize your needs vs wants, but emotion and convenience often interfere. 

Growth path: Defining your needs in advance gives you stronger decision-making power when faced with temptations.

Mostly C’s: The Mindful Planner

You make thoughtful choices, manage responsibilities, and still make room for enjoyment. 

Growth path: Continue fine-tuning your financial habits by occasionally reviewing and enhancing your financial awareness to stay clear on your needs vs wants priorities. 

Mostly D’s: The Needs-First Strategist

You act with intention and discipline, and consistently put essential needs first. 

Growth path: Balance out your budget with room for occasional indulgence to keep your money habits practical and sustainable. For example, there are many fun activities you can do on a budget. 

What’s your spending style according to this spending priorities quiz? Are you able to prioritize your needs vs wants effectively?

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