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Lucy

@lucy_d72

The Ostrich

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.

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IDEA EXTRACTED FROM:

The 5 Financial Personality Types

riskmagazine.nl

TOPICS IN THIS IDEA

Money & Investments

4 Major Financial Personalities, & How To Use Yours As A Strength

Whether you spend more or save more, you're probably already aware of your tendencies - but you might not have determined your financial personality. The term refers to your attitude toward money management. It's like a Myers-Briggs test for your spending strategy. So, where did these financial personality categories come from?

thefinancialdiet.com

“The Freedom Finder”

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”

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.

“The Opportunity Seeker”

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.

one more idea

Vera

@vera_18

Six financial personality types - which one are you?

Do you have a friend who always insists on picking up the bill at social gatherings? Their extreme generosity may not stem from huge wealth, but from status anxiety. Or are you the sort of person who obsessively checks their bank balance or investment portfolio?

ft.com

Financial psychology

... 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.

The Anxious Investor

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.

Despite their overconfidence, they are prone to be beaten by the markets — and frequent trades mean they often rack up high levels of charges.

The Hoarder

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.

4 more ideas

Alexis T.

@alexis_tt19

How to save more money, according to your financial personality

Big Spenders: Some of the best things in life are (close to) free.If you enjoy spending money and have an income that can support your spending habits, you may be missing out on some of the finer things in life by constantly chasing the finer things in life.

bigthink.com

Financial Personalities

There are five different types of financial personalities, each of them having their own set of values and outlook towards money:

The Big Spenders: The ones who place a high val...

Saving Tips For All Types

After you have figured out your financial personality, here are a few tips to save money:

Big Spenders need to consider fun alternatives to the high-purchases with things that cost little but bring real quality and happiness and lead to savings.
Savers need to start living their lives, and not live in misery in the present, just for some future security.
Shoppers need to recognise the emotions and value in saving money for their future, like a dream home.
Debtors need to put some money in automatic saving funds to build their savings.
Investors would do great in future, but can also make do with some purchases in the present, striking a balance.

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