Spending Style Snapshot
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Get a Snapshot of your Spending Style 

Created by Paul S. Richard  Executive Director of the Institute of Consumer Financial Education

Everyday Spending Decisions, Especially 
Credit Based Ones Can Shape Your Financial Future
Answer these yes or no questions and get a snapshot of your spending styles.

1 Always set aside at least ten percent of income for savings and investing using the payroll deduction method. Yes No Sometimes
2 Always contribute maximum amount to employer sponsored pension plans in order to get the maximum contribution from employer every year. Yes No Sometimes
3 Always use manufacturer's and retailer's coupons when possible and send in for rebates. Yes No Sometimes
4 Always look over sale flyers and comparison shop before I spend, especially for food. Yes No Sometimes
5 Always comparison shop motor vehicle and household insurance policies when they come up for renewal. Yes No Sometimes
6 Always pay credit and charge card purchases in full when the statement arrives and never pay interest charges or penalty fees of any type. Yes No Sometimes
7 Always keep banking and other receipts, even for smaller purchases, and note on them the details. Yes No Sometimes

Scoring: 100% = 7 yes answers

7 Yes: A wise spender you are and a spender mentor you should become.

6 Yes: You are right up there with the minority, however, how much would the money you could save, in the question you answered no to, be worth in 12 months if you invested it?

5 Yes: Getting close, but no big savings payoff yet because you may still be missing out in the areas of the questions you answered no. If you want your assets to grow, look for saving in every area of your spending.

4 Yes: You are past the half way mark, however, if you do what you have always done, you will always get what you have now. Time to change some spending habits if you want to see a brighter financial future. If credit cards are your bane, try something that will remind you about the dangers of spend, spend, spend, like credit card warning labels and protection sleeves with anti spend messages for your credit / debit cards.*

3 Yes: Get off the money-merry-go-round! You are probably living from paycheck to paycheck or earning upwards to $100,000 a year and have little or nothing to show for it. Poor spending Practices must be doing you in. If you need a quick shot in the wallet, the average household spends 30 cents of every take home dollar on household and grocery items. You can make a big impact there the next time you go to the grocery store.

2 Yes: When it comes to saving money, you must stop at nothing. Kick it up a few notches, you will be amazed at the results. You have an obligation to be as good to the person you are going to be in 20, 30 or 40 years as you are to yourself today. Start saving and spending with your future in mind.

0-1 Yes: What is that smell? Smoke from your credit cards being overused? Put them in a glass of water and freeze them solid. If you aren't in credit counseling or bankruptcy court, both could be right around the corner. Outside intervention is what you need now. And start looking for a spender mentor, quick.


About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation and founder of the College for Financial Planning in Denver, CO.) The ICFE is dedicated to helping consumers of all ages to improve their spending practices, increase savings and use credit more wisely.

The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its financial continuing education courses programs and resources. In addition to eight Certification courses covering identity theft, credit files, credit repair and credit scoring, among others, it also publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE is a partner with the national Jump$tart Coalition for Financial Literacy and the California Jump$tart chapter. The ICFE staff is also active with San Diego Saves and Military Saves, both offshoots of America Saves.

The ICFE is also an on-line help for consumers who spend too much. ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

The ICFE helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G library, a free eNews service, and an online resource center for students, parents and educators, plus financial education learning tools in the ICFE Book Store.

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