Everyone already knows that every person in the world is different and unique. We all have our own distinct personalities. Recent studies have shown, however, that most of us actually fit into 5 stereotype personalities when it comes to our money habits and behaviour. Yes we all have our own money personality. It’s quite important that you become aware in which category of money personality you fall under, as doing so can help you to live a better life both financially and emotionally as well. Here are the five stereotypical types of money personality. Carefully analyse them all and see where you fall under:
People Who Believe In Splurging Their Money
This category, as it’s name implies, is the kind of person that just loves to spend and splurge on almost anything. These people can be careless and reckless, as they see no reason not to spend their money and, as an effect, are always usually out of money. These people usually put themselves at risk because of their reckless habits. Fortunately, these people also tend to be quite generous because of their spending habits.
The People Who Love To Save Their Money
This category belongs to people who just love to save their money and believe that every single cent is invaluable to their cause. They often believe that money that simply sits on a bank is the best type of money. They always check new ways on how to save money by cutting costs and asking for price reductions. Some people view these people as tight fisted people who wouldn’t spend for a single cent on anything unless they believe it’s truly important. Fortunately, these people have no trouble saving money and that can get them ahead in the long run.
The People Who Invest Their Time In Planning
These people just hate risks, plain and simple. They do a ton of research before making any investment that may put them and their financial status at risk. They chase for security endlessly and are completely immersed in making risk-free decisions that can benefit them in the long run. These people could simply let opportunities pass them by because of their mindsets. Fortunately, their risk-averse personalities can help them play it safe all the time and therefore are free from the risks of truly going bankrupt.
The People Who Love To Gamble And Lose It All
These are the people who simply gamble it all on one big payday. They embrace risk and aren’t concerned about any of the consequences their actions may yield. The good thing about these people is that they are bold and are not afraid of the risk that their actions may have. Things can produce great rewards. Unfortunately, the consequences associated with their actions usually far outweigh the rewards.
The People Who Just Don’t Care
These people don’t care about money. They just view money as something that they need to live life comfortably. These people are more concerned about their lives and their experiences in their lives rather than money.
You might belong to any of these categories. Your money personality might be two money personalities.
If your spouse happens to have a different money personality, then you two might often fight because of it. The good news is that you can turn this to your advantage and actually become stronger. Here’s how:
Be Mature About Your Differences
Being mature about your differences will help you both cope with them and, in the long run, you both will be able to combine your strengths to form a powerful bond that can create more income.
Talk, Talk, Talk
Always talk about it with your partner. If tensions are high, take a time out. The important thing is that you both always get the communication you need as a couple. Make compromises. This is the most important part as compromises are what will make you both ultimately stronger.
Teamwork Is The Key
So, long as you both keep making compromises, you will eventually be able to exploit each other’s strengths. Teamwork is the key. For example, if your partner wants to spend lots of money but you want to save because you happen to be one of the people who dislike spending too much money, make a compromise. Talk about it. Don’t be hostile to each other. The compromise can be that every month, your partner can spend a fixed amount of money. Then the rest of the money can be saved. Both parties will be happy because of it. Compromise is always the key and never forget to talk to each other. As long as you keep talking with your partner, you will eventually master the art of compromise and negotiation. This will enable you to partner up with your partner in times of financial hardship. Keeps these tips in mind and you’re on your way to becoming the perfect team with your partner.