Your Money Personality
September 21, 2016
After years in the financial services industry, we feel that most people will fall into one of three different money personalities. These personalities explain why you spend money or why you save money, why some are excited about investing while others fear it.
It is good to know where you lie and identify your money personality so that you understand your habits and know your areas to work on.
You are great at saving money and putting it away. Because of this you find it difficult to spend money on things that you enjoy. You focus too much on cutting costs and sacrificing in order to build your savings and security.
You are great at getting yourself into debt. You love life and are willing to spend money on things to help you enjoy it. You are typically the one with numerous maxed out credit cards and other loans with little savings.
You ignore your money. It is perhaps because it is complicating to deal with or perhaps you fear it. You don’t know how much you spend or how much you are saving at any given time.
If you see yourself in any of these categories, make a plan to utilize your strengths and balance out your weaknesses. If you would like help making that plan, please contact our office to meet with one of our Wealth Advisors to get started.