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The 5 financial personality types. Which one is you?

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Your Financial Personality Type

I asked my husband if he thought new bar stools could liven up our kitchen. Later that day, I opened up my email. Sure enough, on the right margin of my screen were pictures of (over-priced) bar stools. With two clicks they could be MINE! How did “they” know?

I know how. There is a small, cookie-sized robot on my kitchen island. Her name is Alexa and she was given to me on my birthday by an innocent consumer-friend who thought I’d enjoy asking her questions and hearing her sing songs about losing wi-fi.

Instead, she listens in on conversations and learns my buying personality. What is a person to do in this tempting economy?

Perhaps a little introspection can help us control our thoughts, feelings, and actions related to spending and saving money.

What Financial Personality Type Are You?

Five Financial Personality Types

The Cowboy

You are passionate about taking high risks to get high returns regardless of the potential downside

You love racetracks, casinos, and fantasy sports

You love throwing money toward an exciting investment opportunity outside the norm

You are brave, aspirational, and not afraid to lose

You are possibly impulsive and can be emotionally unstable when it comes to finances

You enjoy day trading. Investing for the long run is boring

The Great Gatsby

You enjoy picking up the bill

You want to be seen and admired

You feel and show love through gifts

You feel like if you own the right things you’ll fit in

You are generous

You feel a little, (or a big), high when you’re shopping

You are prone to overspending and racking up debt

You may feel some status anxiety and can let products define your worth

The Avoider

You’d rather not know how much money or debt you have

You focus on the present more than the future or past

Other interests occupy your time, (traveling, experiences). Finances take a back seat

You minimize money problems and avoid looking at your credit card bills

You do not like making long-term investments. You’d prefer to make no decision at all rather than make the incorrect decision

Depending on who you are, you might underspend and/or overspend. Either way, you feel guilty

If you’re offered a retirement plan at work, you let someone else deal with it

Your accountant groans when he sees you walking in (late) to give him trash bags full of statements. You hope you have everything this year…

You may have money and investments, but you don’t know where the account is and you have no idea how it is invested or how it has performed

The Avid Accountant

You love checking your balances everyday

You have spreadsheets of financial data that you maintain meticulously

You tend to think you know everything there is to know about the financial world

You seek control over your money because you feel life is uncomfortably unpredictable and controlling your finances helps mitigate that discomfort

You tend to be emotionally motivated when it comes to your finances

You are self-taught and rely on internet videos, blogs, and posts to educate you on the financial world

You are very proud of your credit card points. If I can’t get points, is it worth buying?

The Penny Pincher

Money represents safety

Risk is reckless and unnecessary

You are willing to make sacrifices to feel more financially comfortable

You tend to shy away from investments and hold too much cash that you would be better off investing

You’d rather pinch pennies than make pennies

You may have been raised in a family where money was hard to come by

You fear retirement even if you have saved plenty of money because your cash flow will decrease. You can never save “enough”

You are in no rush to make money quickly. Slow and steady wins the race

Which one are you? Do you find you are more one type when you’re feeling unbalanced and another when you’re feeling healthy? In Part Two, I will discuss how to use this knowledge to gain control over your finances and gain peace of mind.

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