Creativity is the ability to see things in a different and new light, which has been extensively studied by psychologists and scientists. The main goal of this graduate paper was to determine the role of intrinsic and extrinsic motivation in relation to the self-assessment of personal creativity and to analyze the role of personal characteristics in the perception of personal creativity. Personal characteristics and motivation are two factors that play a significant role in the perception of personal creativity, and the relationship between personal characteristics, motivation and creativity is investigated in this paper. Intrinsic motivation stands out from the satisfaction of internal needs, while extrinsic motivation stands out from external sources or rewards. Conceptual determinants of personal creativity were identified through the determination of the creative process, where the barriers to the development of personal creativity were also determined. The creative process represents a dynamic series of mental activities and stages that an individual goes through in order to generate original ideas, innovative solutions or new concepts. Key obstacles such as fears, beliefs, lack of support from the environment are just some of the challenges an individual faces when it comes to creativity. An encouraging environment reduces barriers and unleashes creative potential. Personal characteristics, such as extraversion, agreeableness, conscientiousness, neuroticism, and openness to experience, have a different influence on shaping personal creativity. Empirical research was conducted on a sample of students of the Faculty of Economics in Osijek in order to determine the differences in self-perception of personal creativity in relation to personal or motivational characteristics. The main results indicate that students are predominantly intrinsically motivated, and have higher ability or apply creativity to achieve their goals or solve problems than to perceive themselves as creative individuals.