Inspire Magazine - Autumn

£500 PRIZE DRAW
Are you on top... or is your money on top of you?
One Manchester, money magazine Quids in! and the Open University have joined forces to
produce a quiz to help tenants think about small changes to help shape a better financial future.
For each question tick one answer that best
matches you. Add up the score at the end
and see how you did.
You can also do it online at qimag.uk/ouquiz
or send in your answers to receive a FREE
tailored version of the guide.
Plus, £500 is up for grabs for one lucky
person as every entry will go into a prize draw!
(see www. quidsinmagazine.com for terms and conditions).
1 Which of the following best describes
your views on money?
A Money is important because it shows how successful
and powerful you are.
B It is important to have savings, you never know when
you may urgently need the money.
C I often demonstrate my love to people by buying
them things.
D With enough money, you can do whatever you want.
2 How do you feel about how you
manage your money?
A I have some money worries but I manage day-by-day.
B I feel in control of my finances.
C Money is a constant source of stress.
D I don’t think about my finances that much.
3 How do you feel about putting away savings?
A I’m focused on making ends meet day-to-day,
saving money isn’t a priority for me at the moment.
B I’d rather save money than spend it.
C I’d like to have some savings but I struggle to put
money away.
D There’s no point saving anything as banks pay so
little interest on it.
4 What’s your biggest financial worry?
A I’ve got lots of debt and I don’t know how I’m going
to pay it off.
B I often run out of money and go overdrawn, borrow on
my credit card or miss payments.
C I get by day-to-day but I’ve not managed to
save anything.
D It would be nice to have more money but I don’t have
any real financial worries.
5 If you use a credit card, which statement best
describes how you repay it?
A I always pay my credit card off in full every month
or don’t have a credit card.
B I’m in arrears on my card and can’t afford to pay it off.
C I pay whatever the bank tells me I have to pay on my
credit card each month – the minimum repayment.
D I usually clear my credit card each month but sometimes
overspend and take a month or two to pay it off.
6 Do you save money?
A I have no savings and couldn’t afford to start saving.
B I try to save and I’ve got some money stashed away.
C I save up for things when I want to buy something –
holiday, Christmas gifts, a car – but don’t save regularly.
D I put some money into a savings account every month.
7 Imagine your car is essential to you, you need it
to get to work or do the weekly shop, but it
breaks down and the garage says it’ll cost
£650 to fix it. What would you do?
A Put it on my credit card or borrow from friends or family.
B I might dip into my savings but I’d be able to afford it .
C I’d struggle but if I cut back I could just about cope.
D I might be able to get a payday loan but there’s no
other way I could find £650.
8 Your gas and electric company suddenly
realises they’ve been overcharging you,
so refunds £400. What would you do
with the money?
A I’d save it.
B I’d pay off some debt.
C I’d use it to treat my family or friends.
D I’d buy the outfit/computer/holiday I’ve been
wanting for a while.
9 How do you plan your spending?
A I don’t really plan my spending, I just go with the flow
and hope there’s enough money left at the end
of the month.
B I set a budget and tend to stick to it pretty well.
C I try to control my spending but I can never
understand where the money goes.
D I don’t actively plan my spending but I keep track
of how much is in my bank account to make sure
I have enough to pay my bills.
24
@onemcr