We are all wired differently when it comes to money. You’re money personality is made up of seven tendencies that shape how you handle money. Rachel Cruze, two-time #1 national bestselling author and financial expert, gets us “in the know” about how to manage your money better based on your tendencies.
- Experiences or Things.
- This money tendency is about what you prefer to buy.
- I would rather spend my money on a vacation. My husband would much rather something tangible.
- This can lead to misunderstandings because you value money for different reasons.
- Safety or Status.
- This is about why you want money.
- For safety people, you want to know you’ll be okay if something bad happens. Money is about peace of mind.
- What to watch for: Don’t allow fear to drive your decisions.
- For status people, money is about personal achievement. It is a benchmark of success.
- What to watch for: Don’t let your achievements become more important than your character.
- Abundance or scarcity.
- People who lean toward abundance believe there’s more than enough for everyone—glass half full mentality.
- What to watch for: being so optimistic about money that you stop walking in wisdom. Practice delayed gratification and talk through a decision you’re making before you make it.
- People who lean toward scarcity make money decisions believing that resources are finite—glass half empty. They play it safe with money.
- What to watch for: having a closed fist with money. Don’t rely solely on your own opinion. Bring in a trusted friend or advisor.
Rachel’s book, Know Yourself, Know Your Money is available now wherever books are sold, or click here.