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MOT Financial Personality Quiz

The New Year is a time when we all take stock, set some goals and look ahead to what we want to achieve in the next 12 months. But the New Year can also be a chance to think about where we're at financially.

Take the short quiz below by bettermoneyskills.com, to see how you rate on our MOT scale, and what else you could be doing to make sure everything keeps running smoothly.

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1. Which of the following best describes your spending over Christmas?
a) I overspent like I always do and am starting the New Year in the red
b) I overspent but didn't intend to
c) I spent less than or exactly what I budgeted for

2. Have you drawn up a budget for 2009 of all your likely income and outgoings?
a) No and I probably won't. I prefer to take each day as it comes.
b) This is the first year I have created a budget. Due to the credit crunch I'll be keeping a closer eye on my finances
c) I always make a budget at the start of each year

3. Are you going shopping/or have you already shopped in the January sales?
a) There are great bargains to be had and I might not get another chance to buy at these prices, so it's time to spend now!
b) I'll be looking out for a few choice bargains yes, but only a few
c) I'm not particularly bothered about the sales but once I've paid off the Christmas bills then I might head to the shops with what's left

4. How are your savings since the credit crunch has kicked in?
a) I'm not saving at all as I can't afford to
b) I'm trying to save where I can. Any money I do have spare I make sure I put aside
c) I am still contributing into my savings at the same rate despite the credit crunch

5. Have you started saving up for your 2009 holidays yet?
a) No not really. I'll probably put some money aside the month before I go and worry about paying the rest after I come back
b) I've got plans to put money aside in the months leading up to my holiday, but other things are bound to get in the way of saving
c) Yes, I like to put some money aside each month for holidays. That way I don't have to worry about it as I get nearer the time

6. Do you have any debts outstanding on cards/loans etc?
a) To be honest, I usually do throughout the year. It's a case of paying them off as I go
b) There's some debts outstanding, but I'm comfortably in control of them and paying them off
c) I try to avoid running up debts like these unless it's absolutely necessary. And when I do they're the first thing I pay off

7. Do you have money left over when the next pay day comes round?
a) Not usually, no - it's a case of laying low in the final week of the month
b) Usually yes, though some months I do tend to run out
c) Almost always yes. I always try to make sure there's some left over for emergencies

8. Do you read the Money pages in newspapers, magazines and online?
a) It's all just a bit boring really. I don't really understand some of what they write about so there's not much point me reading it
b) I didn't but I've paid much more attention recently given the current economic climate
c) I do look at them yes. There's always some worthwhile information in there

9. What best describes how your finances are managed in your home?
a) My partner takes control of the finances
b) We have a household budget that covers all contingencies and we both contribute and manage it together
c) I have complete control of all the household finances. I like to keep everything very organised

10. What best describes your attitude to the year ahead when it comes to personal finance?
a) I'm not particularly bothered about the credit crunch, will carry on spending at the same rate as usual and will not be making any cut backs
b) I will try to cut back on areas, such as buying lunch and cutting back on luxuries when I can as a precautionary measure
c) I will be cutting back on all areas from gym membership, holidays, buying lunch out, beauty treatments and clothes shopping to ensure I can save money