Six financial personality types - which one are you?
... 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.
If we understand how the financial environment affects us, we can better control our cash instead of being controlled by it, turning us into more rational investors, more successful savers or less impulsive shoppers.
SIMILAR ARTICLES & IDEAS:
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.
Advice: Think twice before making a purchase and try to filter the things that you really need from those bought by reflex.
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 heads out of the sand. They should try to examine their finances, take a close look at a better saving rate and consider approaching a financial planner.
“Great wealth builders focus on both saving money and earning more.”
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: