Thanks to everyone who participated in the money personality quiz and one-question survey I shared in my last post.
Based on the responses received, this was a great way to identify and articulate how you feel about money. Thanks to everyone who emailed, texted, or talked to me in person and provided more details about your results.
The pie chart above shows the results, which weren’t totally surprising to me – though they did strongly favor any one type more than I would have guessed, and I thought there would be at least a few spenders. I suspect most people reading a finance blog, especially one like this and not one filled with get rich quick schemes and hot stock picks (I think you know by now how I feel about those approaches), are likely to want to hold onto and grow their money. In fact, most people who reached out reported their primary money personality was HOARDER with AMASSER coming in second, which is exactly where I landed.
While not as common, responses of WORRIER and AVOIDER also came up, and I hope this site is a safe space and valuable resource to help reduce your worries and/or make it more comfortable to talk about money, even through a blog.
As you make financial decisions (and we all probably spend money, in one way or another, almost daily), keep your money personality in mind. How is it influencing your mindset and money habits, ranging from small purchases to big ones? Does this recognition help you reframe the decision in a better way? While this might mean not buying something, it also might mean spending money when you otherwise would not.
I know sometimes I’m guilty of trying to save money while also making my life more inconvenient in the process. With this framework, I’ve been able to choose the much more convenient option, knowing I can afford to do so – and often for $20 or less. This doesn’t mean I spend haphazardly now either, but I try to recognize when spending money adds significant convenience or efficiency to my life – like buying this for my car for $6.99 – and make the purchase accordingly. My fellow hoarders can probably relate to this!
If you have other examples you want to share – across all the money personality types – drop me an email.
Until next time,