How does your personality impact money decisions?

This video talks about how personality impacts financial decisions such as who is better at saving and what personality types like to spend more on entertainment. If you need help talking to your spouse about money, this is a great first step to understanding your money and personality type.

Find your Money Personality Type with this quiz!

Show Notes:

Your personality says a lot about how you handle money. I've got a free quiz to help you find out your money personality and in today's video I'm going to break down just one of those aspects: Extroverts versus Introverts.

Our history and personalities have a lot to do with how we handle money, so if you're having a hard time managing your money - then learning a bit about yourself can help you start to make some small shifts. And, if you're coupled up and money is a cause of stress then learning about yourself and learning about your significant other can really have a huge impact on how you have future conversations. It's one thing to know who you are in your personality and how that relates to money, but also once you learn a little bit more about your significant other you can start to come to the table and have conversations that are coming from a place of compassion, understanding and empathy… and I promise you get a whole lot more accomplished in those kind of conversations!

Extroverts compared to Introverts

Okay, let's get into it starting with extroverts. Extroverts have a tendency to prefer large group gatherings or more social activities. Extroverts have a tendency towards higher income, however they also think a little bit less before spending money… and if you're spending quite a bit to keep up with social events that can start to get kind of expensive!

On the contrary, Introverts have a tendency to prefer a little bit more quiet time at home. So, something to know about introverts is that in general they are better savers. That could also be because they're a little bit more contemplative before making purchasing decisions. Something to watch out for if you are an extrovert introvert is possibly procrastinating on making decisions because you want to know all the details before you actually pull the trigger.

Can you relate to any of this? Feel free to hit that like button or better yet share this video with somebody else who needs to hear this!

So let's talk about working with financial professionals:

For introverts you might be a little bit harder to read and so you really need to make sure to communicate whatever your wishes and desires are so that the other person that you're talking with has a feel for what it is that you want to have happen with your money. On the contrary, for you extroverts you may or may not actually like the person that's in the position of talking about finances! You might not want to have dinner with them necessarily, but chances are they might be the type of person that is also a little bit more detail-oriented and wants to kind of slowly explain everything. So something that you should be aware of is that you want to be open to at least listening to what their thoughts and insights are as it relates to your money, but also make sure that you're speaking up for what it is that you want as well.

It's about Balance

Really, in both and really all circumstances, we all need to have a balance of lifestyle and planning for the future. So when we talk about you know having a spending plan or saving for the future, one thing that you always need to keep in mind is: What are your long-term goals but also what do you want your life to look like on a day-to-day basis? This is something where again, couples might need to have conversations that involve both: What do we want for our long-term future but also How can we be doing things with our money that bring us joy today, but still keep us on track for those long-term goals?

I hope this was helpful for you!