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People who invest are those who love the risk, trade frequently and have enough confidence to think they will beat the market.
A 2011 study found out that most investors u...
The Big Spenders like to make social statements by having the latest car, clothes, or phones. They use the money for love and attention and are the main representatives of consumerism...
The Ostrich is someone who would rather bury their heads in the sand than organize their finances.
Advice: Ostriches should try to take slowly their ...
The Saver hates taking risks and hesitate about investing, or even spending.
Advice: Cash is not a suitable long-term investment. A financial ad...
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... is a somewhat overlooked discipline that occupies the space between psychology and behavioral economics. Advertisers and marketers trying to tempt us to spend money are well aware of it.
Lovers of risk, anxious investors trade frequently and believe they have the edge over others. Many have absolutely no idea what their returns actually were and only remember their good decisions.
For hoarders, money represents security. They abhor risk and may even stockpile cash that they would probably be better off investing — or even spending.
Find an advisor you feel comfortable with who can discuss the right investment approach — and level of risk — for you.
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The freedom finders like to spend on new experiences in the pursuit of “living life to the fullest.”
Try using a budgeting app or immediately allocating a portion of...
The relationship protector is often family-oriented. If they can support them emotionally and financially, it gives them their sense of achievement at having helped.
A relationship protector is far less likely to make spontaneous investments when others depend on them, and their conservative approach to saving prepares them for retirement.
They’re always looking to expand their options, and every financial decision is carefully calculated to maximize growth.
The opportunity seeker has to watch out for taking on more risk with business initiatives or investment opportunities. Spending time with a professional to seek a second opinion can help you assess whether the newest opportunity is the best one for you.
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There are five different types of financial personalities, each of them having their own set of values and outlook towards money:
After you have figured out your financial personality, here are a few tips to save money: