saver-vs-spender

What is Your Financial Personality?

There are basically two kinds of people: spenders and savers.  Of course, within those two simple groups are hundreds of variations.  The extremes are those who either:

  • believe it’s wrong to spend money on any indulgences or
  • believe that they deserve to have whatever they want, right now!

Both attitudes can be very dangerous to your financial security.  As with everything in life, balance is the key.

There are a lot of things that can impact the way we think about – and deal with – our own money issues.  The most common things influencing our money personality are:

Our Culture

The world screams more, while our bank account screams less.  Don’t let today’s culture and society bamboozle you into a life of debt and destruction.  Now’s the time to stand up and say “NO!”  to the things you don’t really need, or even want. Only then will you find yourself able to say yes to the things that really matter to you and your family.

Our Emotions

Money can be an emotional trigger for many of us.  It can help us feel better about ourselves, and the things going on in our lives; it can make us feel loved, and get the attention of those we want to love us; and it can show the world how successful we really are, or wish we could be.   All-too-often, people overspend to:

  • Decrease their feelings of insecurity and fill an emotional void of anger, rejection and even depression
  • Feel loved.
  • Buy the affections of others
  • Showcase Their Success. 

In addition to the ones listed above, envy and greed may be two of the strongest emotions linked to our money woes.  Sure, it feels good to have nice things – and newer things.  But keep yourself in check.  Ask yourself why it’s so important for you to have everything the neighbors or your friends have.  Do you really want it, or do you somehow feel like less if you don’t have it?  Be sure you understand the feelings and emotions behind your spending, in order to curb it and keep your own debt under control.

Your Financial Family Tree

Maybe the biggest influence on our own financial identity is how our parents viewed money and how it may have affected our upbringing.

There are a lot of things that influence how family financial issues affect the way we handle our own money as adults.  Some of the most common include:

  • The family’s overall financial status
  • Money messages that were heard over and over again as children
  • How you are viewed by others
  • The life you want for your children

So, What Your Financial Personality?

Look at all of these outer influences carefully to determine your own financial personality.  It’ll help you better understand why you think of money in a certain way and how your attitudes may be affecting your family – both negatively and positively.

No one’s financial personality is all right, or all wrong, but a mixture of good attributes and not so good ones.  So, why not take the best you have to offer, and create a brand new financial personality that fits what you really want out of life?

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