All human beings are different and the way we handle money is no exception. Due to this diversity, it has been possible to establish, broadly speaking, personalities with specific characteristics that identify individuals in terms of the behavior they assume when dealing with money, allowing them to find quick solutions when something affects their economy.
There are different types of personalities in which each person can fit, although for experts, this does not mean that some are good and others bad; however, actions can be adjusted to have at least a healthy behavior.
Certainly, in terms of financial personality, we all have a mix, and even, many may notice that they identify with more than one; for this reason, the most important thing is to find balance in ourselves and apply the advice that best suits our particular cases.
Types of financial personality:
The spendthrift or consumerist:
Within this profile are people who have a disorderly financial management. Their fundamental value is to live in the moment and have fun, without thinking about what comes next.
They are adventurous, risk takers, although ironically, they tend to shy away from financial risks, except for starting a business.
Their spending is focused on things for themselves - personal image - and for fun.
They tend to be friendly and show that there are no limits to their actions.
They tend to live without worrying too much about their money and their future. Since they spend more than they have and finish with their income sooner than they imagine, they usually live with structural financial problems: with their credit cards maxed out and without a peso saved.
Recommendation:
For the consumerist it is appropriate to establish an automatic savings plan. If the company where they work has a savings bank that operates through the payroll deduction system, it is ideal to set it up.
A good tactic is not to carry credit cards. When making a purchase, evaluate whether it is necessary and justifiable to incur interest payments for its acquisition.
2. The fearful:
This financial personality is characteristic of those who worry excessively about their own and their family's financial security.
Their greatest fear is to lose control and they panic about scarcity, so they avoid incurring in extra expenses that they qualify as unnecessary.
This group does not acquire debt, their priority is saving and they have never considered having credit.
Recommendation:
For those who identify with this type of personality, I recommend setting specific goals and objectives, since there is no point in accumulating money without having a clear horizon.
While saving is essential for finances, money must be enjoyed through responsible and intelligent spending.
3. Analytical/orderly
You tend to spend your resources carefully. Likes to save, plan for the future and spend in a planned manner.
They are the typical ones who always write down everything they spend, prefer to keep a budget and set goals to follow.
They are people who spend little on themselves and prefer to save it for a rainy day. The neat person has fun, but in their own way. They usually have a fixed hobby or activity. They do not look for new things.
When it comes to investments, they are also very conservative. He does not like to risk his money in order to earn more in the future.
This type of person usually avoids risks at all costs and prefers, on the contrary, safe and traditional investments.
Recommendation:
The recommendation for them is to be less controlling, more confident in their decisions and willing at the time of buying, selling or investing, as they may miss excellent opportunities for fear of taking risks and making mistakes.
"Each person is a world, so there are as many financial personalities as individuals" Joan Lanzagorta.
4. Impulsive
Those with this personality type are rash in their actions and usually resort to spending when frustration and depression overtake them.
Anxiety often leads them to make more emotional and less rational decisions. They tend to spend large sums of money, thanks to the fact that they always have their credit cards with them.
They usually justify their expenses with phrases such as "I deserve it", "that's what I work for", "it's a treat", but at the end of each month they live complaining about how precarious their income is.
Recommendation:
According to experts, the most favorable for this type of people is to make automatic deductions for the purpose of saving, to avoid that all the money received from income is destined to consumption.
Likewise, it is advisable to have a savings account destined only for this purpose -savings- and not to mix it with the money that is going to be used month by month to cover the expenses stipulated within the budget.
CONCLUSION
Heredity provides a physical constitution and a genetic endowment, by means of which one will grasp the world and respond to it.
The environment provides elements of interpretation, guidelines to give meaning to stimuli, and determine forms of response.
The simultaneous influence of hereditary and environmental factors through time and space, give rise to and determine personality.
The individual is not born with a determined personality, but with a certain endowment that will condition, in part, the subsequent development. The personality is conquered, it is made, it is constructed. The inherited conditions are complemented and transformed through experience, learning, education, work, willpower, coexistence and cultivation of the person.
Remember that there will always be a way to achieve healthy economic behavior. Have a nice day.