What is a money personality?
Money personalities can be described in a few different ways. Some people are savers—they put money away and think about long-term goals. Other people are spenders—they love to buy things and might not be as good at saving. There are also investors, and balanced money personalities.
Money-makers reject the common I'm-only-an-employee mentality. They strive to be aware of all aspects of their business, even those seemingly not directly relevant to their job. They ask themselves what can be done or improved. They find their work to be the essence of what it is to be alive — to be productive.
- Spenders seek emotional comfort in spending. ...
- Savers see money as a means to obtain security. ...
- Avoiders/Shoppers are not comfortable with the subject of money. ...
- Debtors do not have a sense of budget and oftentimes spend more than they make and miss opportunities to save.
The Risk-Taker: Risk-takers are the ones who love the thrill of financial opportunities. They're not afraid to take calculated risks in the pursuit of higher returns. Whether it's investing in the stock market, starting their own business, or diving into new ventures, they thrive on the excitement of the unknown.
Your beliefs about spending and saving money can boost or block your financial success. Here's how to make your money mindset an asset. We all have a money personality — beliefs that can influence how we save, spend, and think about money.
Commanders (ENTJ)
Tendencies: Commanders tend to take money seriously and are more likely than most to have up-to-date budgets. They make money the foundation of many life decisions, including educational and career choices. They are the personality type most likely to equate money with influence.
The two studies consistently found that rich people are more conscientious, open to experience, and extraverted than the average population. They are also less agreeable (that is, less likely to shy away from conflict) and less neurotic (as in, more psychologically stable).
Someone who is avaricious is greedy or grasping, concerned with gaining wealth. The suggestion is that an avaricious person will do anything to achieve material gain, and it is, in general, not a pleasant attribute.
The Hoarder
A “hoarder” may find it difficult to spend money on what they consider “extras” or pleasures for themselves and their children. They may have a difficult time with the idea that they may have to use some of their savings for paying for expenses for their partner or their children.
Answer. The word closest in meaning to what you want is spendthrift. Spendthrift is a noun that means "a person who spends money in a careless or wasteful way."
How does money affect personality?
While a lack of resources fosters greater emotional intelligence, having more resources can cause bad behavior in its own right. UC Berkeley research found that even fake money could make people behave with less regard for others.
Thus, our brains are wired to seek out and value resources, including money. For example, money can make us feel happy when we achieve our goals, proud when we earn recognition, jealous when we compare ourselves to others, greedy when we want more than we need, or anxious when we face uncertainty.
Do you often take chances and yet still land on your feet? Then you probably have a well-developed brain. This surprising discovery has been made as part of a project studying the brains of young male high and low risk-takers.
You just learned that there are six major characteristic types in how people view money. They are Frugal, Pleasure, Success, Indifference, Powerful, and Self-worth.
Being a risk-taker is often described in contrast to those who are risk-averse. Being a risk-taker, as defined above, means being bold, decisive, confident, courageous, creative, innovative, and comfortable with uncertainty. Being risk-averse, in contrast, means making decisions that are the least risky.
Personality traits
Savers are debt averse; they pay off their mortgage early. Spenders: People who want to enjoy their money now and worry about the future later. They don't save much and tend to borrow. Sharers: Those who want to share their money with family, friends, charities or their community.
'Money Mindset' refers to a person's beliefs, attitudes, and thoughts about money. It encompasses how a person thinks about and relates to money, wealth, and financial success. A person's money mindset can have a significant impact on their financial decisions, behaviours and the results they see, or don't see.
A money language is how you view money, and the understanding of how you use money to express yourself.
The INTX types are at the top of this list because what they tend to focus on is usually what constitutes intelligence and what is measured by traditional IQ tests: abstract conceptual logic and problem solving.
INFJ is the rarest personality type in the US among the general population (1.5%) and men (1%). For women, INTJ is the rarest (less than 1%). From most to least common, the personality types are: ISFJ, ESFJ, ISTJ, ISFP, ESTJ, ESFP, ENFP, ISTP, INFP, ESTP, INTP, ENTP, ENFJ, INTJ, ENTJ, INFJ.
How can your money personality affect your ability to save?
Understanding your personality traits and their impact on your finances drives positive changes. For instance, if you're naturally impulsive, you might benefit from setting up automatic savings or investments, so you're less tempted to spend that money.
- INFJ. INFJ, also known as the advocate, counselor, or idealist, is the rarest type of personality in the general population. ...
- ENTJ. The second least common personality type, ENTJ or commander, represents about 1.8% of the population. ...
- INTJ. ...
- ENFJ. ...
- ENTP.
Furthermore, Musk's personality type also influences his leadership style. As an INTJ, he is known for his directness, strategic thinking, and high standards. These qualities have not only attracted top talent to his companies but have also allowed him to drive his teams towards achieving extraordinary goals.
The four temperament theory is a proto-psychological theory which suggests that there are four fundamental personality types: sanguine, choleric, melancholic, and phlegmatic.
- You believe that earning more money is the secret to happiness.
- You spend most of your energy on trying to make as much money as possible.
- You get pleasure from the approval and recognition from other people for your financial success.
