Money Personalities 101
- Does talking about money issues increase your heart rate?
- Do you often feel stuck when making financial decisions?
- Do you turn to spending because it will make you feel better?
- Do you procrastinate opening bills in the mail because you jut don’t want to think about it?
- Do major purchases make you nervous, and/or elicit a looooooong research process before you can pull the trigger?
These are all indicators of an unhealthy relationship with money. But the good news is, you’re not alone. We are ALL working to try to find some balance in this area. That’s why Olivia Mellan’s concept of Money Harmony is so important.
5 Money Personalities
Mellan identified five basic personality types that describe your default financial tendencies. The names of these personalities are not exactly complimentary (trust me, I’m a Hoarder), but they allow us to keep laughing at ourselves.
- Spender – Gets energy from spending money
- Avoider – Might be living in a river in Egypt as far as finances are concerned
- Amasser – Works to acquire plenty of resources
- Hoarder – Would prefer to save rather than spend
- Monk – Considers money to be dirty or tainted
Don’t you want to be one of those? It’s all about self awareness, right? If you would like to take our quiz to determine your Money Personality (or more accurately, your blend of personalities), click here.
Don’t worry, this is one quiz you can’t fail! That’s because there is no “right” personality:
- Each person has their own unique blend of the five personalities. When there are one or two dominant personalities, this is an indication that some balance (Money Harmony) would be helpful.
- In fact, each personality has advantages and disadvantages, so the secret is learning how to optimize your personality. By practicing the non-habitual in certain situations, you can react with wisdom rather than habit, and this yields much more effective financial decisions.
In case you’re wondering what you can accomplish by identifying your Money Personality and learning how to optimize it, rest assured, it will be worth your time:
- Increased confidence around your financial decisions
- Greater wisdom to apply certain default behaviors in the situations that are most appropriate
- Tools to help combat those default behaviors that are not productive
- The ability to finally change your financial behaviors and attitudes … for good!
Looking for resources? In addition to taking our Money Personality Quiz, ladies, you are invited to join our discussion in our Facebook Group “End Money Stress – for Women” where we talk about our Money Personalities and other ways to increase financial wellness.
