Understanding your own money habits is the first key to becoming financially stable. We’re going to look at the different money personality types and it turns out most of us don’t have a perfect relationship with money.
The Compulsive Saver
The compulsive saver feels good and safe putting money away, even if there isn’t a particular reason for it. You’re often frugal with money and never let your spending get out of hand. Although it’s a good habit to save you also need to learn to enjoy life too.
The Compulsive Spender
As a compulsive spender, you spend money on things even if you’re not sure that you need them. You’re the outgoing type and you like to make plans with friends for no particular reason. You also spend when you’re emotional. It’s important to put some structure around your spending by making a budget.
The Compulsive Money Maker
You believe that making more money is the secret to happiness and so you dedicate yourself to getting as much of it as possible. You also like it when you’re acknowledged for your financial success. While having this personality means you’re on track to financial liberation, it’s also important that you remember how much your relationships are worth.
Indifferent To Money
If you’re indifferent to money, you don’t allow money to influence the big decisions in your life. You also believe that you don’t need too much money to be happy in life. This is a healthy mindset but you should also remember that things can get bad if you’re irresponsible with your finances.