About a year ago, I learned about the concept of different money personalities and I started researching what was out there.
Your money personality is your money tendencies, the leanings for your money habits.
We all have money tendencies that fall into a category, typically it's all part of the stories we pick up as kids, and through our interactions with money.
Knowing your money personality is more helpful than any money habit you can implement. It gives you an idea of where you are and what changes will be helpful while sticking.
There is a variety of ways these money personalities have been explored, this list is a combination of my research and what I see as trends amongst people I speak with.
Money is a source of anxiety and stress for you
You know you should be better at managing money and probably have tried to start a budget many times but never completed it
You typically don't know how much money you've got, whenever you go to check your account you're squirming because you don't know how much is in there
A money monk is an avoider with a twist
You believe that money is bad, perhaps even evil. You think that money corrupts and when you have a lot of it, it will make you a bad person
I used to be a money monk and still actively work on this money block because it tends to be something I gravitate towards
When you get your paycheck, it's spent within days if not hours. Maybe you've spent it by the time you are paid.
You like to get the latest gadgets, purses, clothes, whatever that "thing" is for you
If you think of the saying "keeping up with the Joneses," Spenders ARE the Joneses
You love to spend money
You don't fear debt
You enjoy taking risks
For you, saving is a priority over everything
You are concerned with seeing money pile up because money flowing out makes you uneasy
You enjoy bargain shopping and overall conservative with spending
You don't enjoy taking risks
Your relationship with money is "balanced" - you're able to be responsible and have fun with your money
You have mindful spending habits that allow you to make smart money choices
You have your savings and debt in check
Your relationship with money is in "flow"
If these money personalities spoke to you and you're not a Slayer, the beauty of knowing where you are is now you can work on improving your relationship with money because you know your money tendencies.
Here's a tip for each personality, how you can work on improving your relationship with money:
Avoider - working with a money coach, a financial advisor or a planner is the way to go for you, someone who is comfortable with money can guide you through the areas that make you uncomfortable.
Money Monk - find stories of successful people doing great things with their money and any time you think money is bad, look for people who do great things with the money in their lives to reframe your negative stories
Spender - pay yourself first, to make sure you save and take care of your responsibilities before your spending habits kick in
Amasser - have a guilt-free spending account and designated savings categories, this will allow you to have fun with your money and save it with intention instead of just watching it pile up
Slayer - keep doing you! Make sure that you're always in flow with money. One way to do that is when you pay a bill or anything at all, thank that money for being there. By being grateful, you're inviting more money into your life.
Have a question about your money tendencies? Drop me an email at firstname.lastname@example.org.
Money Harmoney - https://www.moneyharmony.com/moneyharmony-quiz/show-all-types
Empower - https://empower.me/quiz/