Money Personality Types

If money goals are your WHY, money personality types are your blueprint to how you are going to get there. In this blog post, we’re going to think outside the box and use our money story and personality traits as our own character development. We are also going to find out where to how to find our money personality types. Let’s begin, shall we?

What are Money Personality Types?

Money Personality is a description of your wants and desires. Your Personality type has a set of values and goals that you want to achieve. A Money Personality Type is a part of your Money story.

When researching money personality types, I noticed that there was a huge problem with most money personality types. Most money personality types categorize people into “good” types and “bad” types. Even when looking at the leading investment community they described Money Personalities as big spenders, savers, shoppers, debtors, and investors. Do you see how that creates a negative view of money and people?

It creates finite traits of people, and as we’ve learned in previous chapters, this is problematic. Not only does this create a fixed mindset on how money should be used, but it creates shame around what type of money type are you, and if you are not the investor then you are SOL’d for your future. This is one of the main problems with the study of behavioral economics.

With money and economics, people consistently use the model of being a “rational” human being. This is the study of economics and behavior economics. Many economists use our bias as a way to describe how people categorize their thinking.  Most behavioral economics describe making decisions when it comes to money as an evolutionary lens, but what we’ve learned from previous chapters is that many of our cultural influences create irrational decisions.

They are microaggressions and bias that are not in our consciousness. This is not to bash an entire industry, but it is crucial to remind ourselves that the lack of including irrational behavior, economic circumstances, create bias and change our decision making.

Creating an- in-depth study of personality requires you to understand your behavior pattern around money. By identifying your strengths and weakness, you able to communicate your feelings and thoughts around money.  It’s important to note that although personality types are blueprints, it is not the end all and be all. In our lives, we change and grow and seek guidance in different ways depending on where our in developmental growth.

Lastly, personality tests help you define your heroine’s journey. We all have a journey in life to find inner peace, sense of self, identify the conflict. In previous chapters, we talked about how our culture is ultimately determining how we think and feel about money. We also discussed how being self-aware about problems is better than being lost in the trap of what do we do with our money.

In all stories, we have a call to action. Most of those call to action let us know that we need to get a kick in the butt. Call to action is when something dramatically shook a chord in our lives. It may be a death, a breakup, or even the act of reading this book. This has always been our journey. We find a mentor or sage that helps us understand the complexity of our money and life. We identify our crossing threshold by looking at our trials and failures through our strengths and weakness. Throughout the muck we find that there are a lot qualities, characteristics, and skills that we all share, grow and need to nurture.

How do you find your Money Personality Type?

The short version is take a quiz. The best one out there is Clevergirl Finance quiz . A more in-depth version is by Barbara Hudson ( Stanny) and take your age and divide by 3. Make a section for each of the age ranges of each and think back during to a time that you felt powerful and used money. Why was it amazing? What did you learn?

Finding out your values and what gives you fuel to your personality takes time and it’s not a quick fix, but at least you will be one step closer to what you want. It is also a big piece to understanding your money story and changing the course to what is possible.