You are out window shopping with friends, cruising the high Street, enjoying the group’s chatter. Then you see it. The dress that featured in Cosmopolitan. Ohh, it’s fabulous, it looks so much better than the photos. The dress oozes sophistication and sexy. You would be the envy of all your friends.
What would you do?
All of us are different when it comes to money.
Your ‘money personality’ is a behavioural pattern relating to your spending and saving. At different times in your life, and depending on circumstances, you may see more than one money personality type in yourself and that’s quite natural.
You’ll also probably see a cross over between money personalities as well – in other words, you can show parts of more than one money personality at the same time. There’s no good or bad money personality – they all have benefits and downsides.
And the best news is, it doesn’t define you for life – you can change it.
The original five main money personalities were developed in the 1980’s by Olivia Mellan, a clinical psychologist who specialises in relationship and money issues.
The five money personalities are an Amasser, Spender, Hoarder, Money Monk and an Avoider.
A sixth was developed by Dr Kathleen Gurney, called Money Mastery.
The members of this group make wise financial decisions. They enjoy managing their own money, but they also trust their advisors. They’re satisfied with what they have achieved financially.
They make logical decisions. They’ve learned to take the time and not let their emotions run away with them. They understand their values and make decisions that fit with those values both financial and personally. They are proud of what they have achieved but don’t feel the need to brag about it.
They haven’t got where they are by applying some amazing money making scheme. It’s understanding their relationship with money and aligning their values, beliefs and behaviours that has led them to financial success. They have high self-esteem, feel secure, and are content with life.
So, where are you right now?
Are there attributes in one of the other money personalities that you would like to take on? Money Mastery is what we all aspire to. Unfortunately, most people either aren’t willing to do the work (or don’t know how) to get there.
If you decide you do want to reach Money Mastery, then come and talk to us about our coaching and mentoring programmes.
Meantime, see what your money personality reveals!