Wednesday, December 30, 2009

Want to plan your financial future - Know your personality

Another year is coming to an end and we all are geared up to welcome the New Year with grand celebrations and loads of plan for the future. While going through I came across an interesting article on planning financial future while considering your personality and thought of sharing it with you.

All of us want to make a financial plan which would be appropriate and helpful for us in future. For that you need to recognize your personal way of living, spending habits, and your mind set. Based on such related factors, the founder and CEO of the Money Coaching Institute, Deborah L. Price have categorized different profiles that may help you to have a clear perception to take financial decisions. Here are the different profiles:

Innocent - One who rely on others' opinion and advice and seems to be overwhelmed by finance related information. Such a person easily trusts people and often end up in making bad decisions.

Victim - This is a person whose attitude is to blame his/her woes on outside factors and generally tends to live in the past. This type of person have the notion that he does not have control over his situations.

Warrior - As you can get a hint from the name itself, a Warrior is a person who is often to be successful in financial works. He will be be a good listener but will take his own decisions.

Martyr - A person whose nature is to help others with money, which sometimes proves costly in the long run.

Fool - One who does not have the ability to make his own decisions and may act ruthlessly. It can be described as a mixture of Innocent and Warrior.

Artist/Creator - This profile is well described with an appropriate phrase "love/hate relationship with money". They do not care for their money.

Tyrant - The Tyrants save and store money and often use them to manipulate others. However they are never comfortable and always think that they are going to lose control of their money.

Magician - A perfect type you can say. He is absolutely clear about his situation and his responsibilities.

Amazing, isn't it? I had never thought that you can plan your finances based on your personality. I hope this characteristics will help you have a clear vision about your financial decisions and begin the New Year with a fresh financial plan.

Wishing all of you a very happy and financial stress free New Year!!!

1 comment:

  1. Kevin,

    Nice summary of the Money Archetypes we use at the Money Coaching Institute, but it's even deeper than just the few lines you shared for each. I suggest that those who want to know more go our website and review the compete description of the archetypes. They can also take our Money Type Quiz online. (First print out the page of "words" and circle or highlight your choices, then use that to click on the words on the screen. This way, you will have a record of the actual words which resonate -- each one tells a story.)

    Even more important than knowing your Money Type is knowing how to identify the typical cycles and patterns of that type are "taking over" and how to break them, as well as learning what's need to overcome the challenging aspects of the Money Type's influence in our daily actions. They often extend beyond money issues into other areas of our life.