The 5 financial personality types. Which one is you?
Photo by Roman Synkevych
Originally Posted On: https://www.nayaclinics.com/post/the-5-financial-personality-types-which-one-is-you-1
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
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
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.