Remember that survey I blogged about awhile ago that determined where you fell on the spendthrift-tightwad spectrum? Well I just got my results. The survey conductors at the University of Michigan said:
We needed to wait until the study was complete before notifying participants, and the study ran longer than expected. I’m writing to let you know your score on the Spendthrift-Tightwad scale and to put it in some context.
Scale scores range from 4 to 26. We typically classify those with scores from 4 to 11 as tightwads; 12 to 18 as unconflicted consumers; and 19 to 26 as spendthrifts.
Your survey responses place you on the TIGHTWAD portion of the Spendthrift-Tightwad dimension.
Although the proportions differ from sample to sample…we generally find that 25% of respondents are categorized as tightwads, 60% as unconflicted consumers, and 15% as spendthrifts.
I belong to a minority of people who don’t spend money even when I should, according to these results. Bah humbug! I like saving money. But it is true. I save money even when I really shouldn’t. Case in point: my stash of 8 gift cards totaling $411.
On the other hand, I buy plenty of high-quality goods that cost a pretty penny. Last month I bought myself a fleece from the North Face Outlet that cost just over $100. I am a tightwad who lets loose on occasion.
Did anybody else take the survey? What were your results? It’s not too late to take the survey. If you didn’t take the survey, what group would you put yourself in?
Spendthrifts over spend.
Unconflicted consumers have few issues about spending money.
Tightwads hold onto their money more than they should.