Money Motivations Quiz

Are You Afraid of Missing Out or Running Out?

Are you driven by the Fear of Missing Out (FOMO), or does the Fear of Running Out (FORO) play a bigger role?

This short 11-question quiz, featured in Emotionally Invested, will help you uncover the motivations behind your financial choices. We’ll explore how your spending and saving habits align with your deeper values and goals and reflect on what truly matters—aligning your financial decisions with life you want to create.

Let’s dig into your “Money Why” and uncover patterns you may not even realize are influencing your decisions. Where you land on the FOMO-FORO spectrum?

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1. It’s vacation-planning time.*

You and your partner have been browsing online for weeks, and you’ve finally made your choice—a ten-day Alaskan cruise (with the unlimited smoked salmon package). You’re about to hit the "Book It" button.

At this point, you:

Picture the two of you sipping hot toddies on the lido deck as glaciers drift by and whales breach. You look at the calendar and start counting the days. You press the "Book It" button repeatedly.

Panic a bit. You pause to add up the costs one more time. You check your savings account. You wonder if the expense is really worth it.

2. A friend passes away unexpectedly. He was your age.*

After the initial shock, you:

Are reminded that life is short. This could have been you. You start a bucket list.

Start worrying if your spouse would be financially okay if you passed away. You check to see if your documents are up to date. You call your financial advisor.

3. You hear on the news that the stock market has “plummeted.”*

(By the way, on the news, the stock market never goes up or down; it “soars” or “plummets.” Perhaps they’re trying to get your attention?)

You:

Turn off the TV or notifications from Fox Business and continue reading Always Looking Up by Michael J. Fox.

Immediately log into your account. Start beating yourself up after seeing how much it’s down. Consider selling before things get worse.

4. Your daughter just got accepted at Princeton.*

Cost is $66,000 per year, after deducting her $10,000 scholarship. She was also accepted by other great schools with an average annual cost of $42,000.

You:

Immediately buy everyone in the family Princeton polo shirts. You’re so proud of her! She’s so smart! She’s going to be the best anthropologist ever—and the Joneses are going to be so jealous!

Start running the numbers. Is it really smart to pay that much money for an anthropology degree? What is she ever going to do with that? You’ll have to take out a loan. Or maybe you should ask her to contribute?

5. Your fifteen-year-old asks for a new phone.*

Even though his current phone is a year old, he insists he must have it. It has a much better camera, and all his friends have one.

You:

Explain to him that his phone is fine. When you were his age, phones were mounted to the wall and had ten-foot cords. He complains. He whines. He says everyone will make fun of him. Eventually, you give in.

Offer to match him dollar for dollar. If he wants the phone that badly, he’ll find a way to come up with half the money.

6. You and your partner decide to buy a home.*

You set a budget, list your must-haves, hire a real estate agent, and start looking. But there’s nothing in your price range that has everything you want.

So, you:

Tell the Realtor to expand the search to more expensive homes.

Take another look at your must-haves and prioritize them into needs, wants, and wishes. You give the revised list to your Realtor and tell her to stay within the original budget.

7. You just learned you’re having a baby!*

After looking deeply into each other’s eyes, celebrating with some sparkling nonalcoholic cider, and telling everyone the good news, you:

Order lots of stuff from Amazon for the nursery. “Did you see this double breast pump? It’ll be such a time-saver!”

Apply for the new job that just opened up at work. (Babies are expensive, and you’ll need the extra cash.) Start dropping hints about someone throwing a shower. Call your financial advisor to discuss a college savings plan.

8. The holidays are coming up. You:*

Start discussing whether you should invite the whole family over to your house or escape to Punta Cana—just the two of you. The more options you explore, the more excited you get. Don’t you just love the holidays?

Start looking forward to some downtime. If Morty from accounting cooperates, you can string together an entire two weeks. How great will that be? Relax. Watch bowl games. Eat queso.

9. You’ve been looking for a new job.*

You just got called for an interview by the company you’re most excited about working for. You:

Schedule a haircut and facial and go shopping for a new suit and briefcase. You must look your best!

Do a deep dive into the company. Number of employees? Glassdoor reviews? Does it contribute to employee 401(k)s? Health insurance?

10. Your brother-in-law lost his job.*

He’s the one is always going on fancy vacations and driving new cars. However, for the last six months, he has been sitting around complaining how unfair life is. Now he’s asking to “borrow” some money.

You:

Give it to him. After all, he’s like family, and he’s never asked you for anything before. Better to keep the peace.

Don’t give it to him. Instead, you offer to use your LinkedIn connections to help him find another job. You also refer him to your financial advisor.

11. Your uncle, who’s worked hard his entire life, has been diagnosed with cancer.*

He will be unable to work for the foreseeable future. His employer will pay some disability, but it won’t be enough to live on.

You:

Immediately offer your help. You prepare meals for the week and deliver them. You drive him to doctor appointments so his wife can work part time. You mow his lawn. You’re a daily resource.

Immediately offer to help. You put him in touch with a lawyer who may be able to get him more disability payments as well as Social Security disability. You offer him financial assistance until he receives this additional money.

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Money Motivations Quiz

Are You Afraid of Missing Out or Running Out?

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