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ronny_todgers

What's Your Financial Iq?

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Apparently I'm 85% money motivated and only 20% risky - I think that's pretty healthy! :)

www.delosis.com/surveys/45831

Some pretty thought provoking questions and it certainly made me realise I am more worried about risk than is perhaps optimal. In fact a lot of things in there I didn't even think about as being risky...

Not sure how good this survey is, I was getting bored towards the end.

49& risky : You either take a very balanced approach to risk in your finances or you do not find yourself highly motivated by money. The result below will distinguish between these outcomes.

35% money motivated: You take a realistic view of the benefits available in return for taking measured risks with your money.

Edit: Although, if it makes you rethink your risk appraisal processes then good.

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Not sure how good this survey is, I was getting bored towards the end.

49& risky : You either take a very balanced approach to risk in your finances or you do not find yourself highly motivated by money. The result below will distinguish between these outcomes.

35% money motivated: You take a realistic view of the benefits available in return for taking measured risks with your money.

Edit: Although, if it makes you rethink your risk appraisal processes then good.

Yeah the third time of rating the options felt a bit much! But it's an interesting mental exercise to try and think about how risky and potentially rewarding something is independently. Do we all do that as much as we should - sure on big ticket things we try to but not in all of our judgements about finance.

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Yeah the third time of rating the options felt a bit much! But it's an interesting mental exercise to try and think about how risky and potentially rewarding something is independently. Do we all do that as much as we should - sure on big ticket things we try to but not in all of our judgements about finance.

Well I certainly do, for amounts that matter. Not for things worth a few pints down the pub, regardless of how risky they are. That part of the questions (the gambling ones) are reasonably good at assessing one's attitude. I wouldn't stick a huge wodge on a roulette black spot but I would do it with a small sum, regardless of how risky that behaviour is. It's for fun, after all, and the ladies love it.

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Well I certainly do, for amounts that matter. Not for things worth a few pints down the pub, regardless of how risky they are. That part of the questions (the gambling ones) are reasonably good at assessing one's attitude. I wouldn't stick a huge wodge on a roulette black spot but I would do it with a small sum, regardless of how risky that behaviour is. It's for fun, after all, and the ladies love it.

I like the occasional flutter too - mainly poker rather then roulette though - but where is the fun? ( i know its there! ) - is it the risk itself or the potential reward?

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I like the occasional flutter too - mainly poker rather then roulette though - but where is the fun? ( i know its there! ) - is it the risk itself or the potential reward?

The risk, and the ladies that come with risk taking behaviour.

If you play for rewards, you are onto a loser and are feeding a gambling habit.

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The risk, and the ladies that come with risk taking behaviour.

If you play for rewards, you are onto a loser and are feeding a gambling habit.

True in terms of gambling but what about things like saving money by not insuring your belongings or becoming a contractor instead of a permanent employee for a bigger pay packet - there its all about the reward isn't it but its still taking a risk

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49 money and 21 risk although it is very hard to answer some of those questions since it really depends on your current financial state.

I wouldnt remortgage to buy a car so put that as high risk because if someone cant afford it then they are spending outside of their means. That doesnt mean that I am afraid of risk it just means that if I wanted a new car then I would go and pay cash.

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True in terms of gambling but what about things like saving money by not insuring your belongings or becoming a contractor instead of a permanent employee for a bigger pay packet - there its all about the reward isn't it but its still taking a risk

I think that's where the further questions come along. Compared to gambling, do you perceive any of the above to provide you any benefits?

Regards the specific situations:

1. How likely are you to do it?

2. How risky do you think it is?

3. How beneficial do you think it is?

All different for, say, gambling vs not insuring stuff vs career change.

I do think that not insuring (for an appropriate sum) is just plain silly, and I wouldn't do it. I also think gambling is plain silly but I do it for fun. I think that contracting is a risky behaviour, however the rewards justify the risk, and I would do it if the situation permits.

So on and so forth for each specific situation. I certainly would never take on any debt to buy a new car, regardless of how rich / poor I was, as I do not see any benefit whatsoever in such behaviour.

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Both my percentages in the 30s.

I see the first scale goes from "scrooge" to "banker". Someone remind me (and perhaps more importantly whoever runs the site), what was Mr Scrooge's line of business?

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38% Risky - You are moderately risk averse.

47% Money motivated - You take a realistic view of the benefits available in return for taking measured risks with your money.

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38% Risky - You are moderately risk averse.

47% Money motivated - You take a realistic view of the benefits available in return for taking measured risks with your money.

The latter one sounds like it's got things rather twisted, if it really means money motivated.

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The latter one sounds like it's got things rather twisted, if it really means money motivated.

I don't know - I guess it is saying that you are driven by potential financial reward but you balance risks and rewards - I guess ( now I have scored so high! ) that a really high score on the motivation is actually a bad thing :blink:

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36% and 42%, which I don't really feel is terribly accurate - I'm just not the slightest bit interested in what most of the questions are asking. I certainly have no desire or intention of ever doing the majority of things that they ask. I've better things to do with my time than try to find every penny down the back of the sofa.

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Time to 'fess up - I'm the person running the survey - many thanks to all of you who have completed it! There are questions about Gambling and Investing and the difference between the two is the focus of my research - No funding from any gambling organisation (for or against) I promise!

The results from the Financial IQ test are looking very interesting and whoever wondered whether the profile of people from this forum differs from those on mumsnet - well they do!

The second part of the study is the Financial Personality test which is less about risk and more about your attitudes to fairness and excitement - as I have had such a good response to the first test, I have now opened access up to the second test so if you didn't leave your details in the Financial IQ test you can still come along and complete the Personality test.

You can now access both tests from www.delosis.com/surveys

It's really important for me to be able to relate scores between the two tests so if you do both please tick the box saying you willing to be contacted and leave your email in the IQ test.

Any questions, feel free to PM me!

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Hey everyone - Thanks again to all of you who took this test so far - just to let you know we have had a couple of thousand responses so far and so have been able to norm the tests and make them shorter.

What the norming means is that if you take the test now you will get a meaningful "financial IQ" ie a score with a mean of 100 and SD of 15 which shows how you are doing in relation to the rest of the population. There are three components to the score - Rational Risk Taking, Resistance to Gambling, and Rational risk Avoidance. All of which are detailed and their significance explained.

We've had people coming from a load of different sources and there's probably a paper in the differences between the different web communities - Home traders are in a class of their own on the profile - can you guess what it might be?

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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