Trading Time or Buying Freedom

People are complex beings. We are more emotional than we would like to admit. Our past shapes us, and our present progresses to our future self. Be careful as you live your life; you are shaping your children’s lives. If you don’t have kids, there is always someone watching how you live your life.

You are not broken. Sometimes we need to explore our money psychology and thinking.

We are wired differently in how we understand money. That credit card might even give you sleepless nights. Don’t worry too much. This article might help you understand why you behave the way you do with your money.

To understand our money, it makes sense to understand how we think about it. How we think about money manifests in how we relate to it. Remember, it’s all about your worldview.

The 5 types of money personalities

Here are the basic money personalities. There is no perfection in any of these money traits, by the way. We are people spelled with two Ps. No need to add perfection; it doesn’t work.

Spender (Monkey) 🐒
Saver (Ant) 🐜
Avoider (Ostrich) is buried in the sand.
Investor (Eagle) 🦅
Giver, free-spirited (Dog) 🐕‍🦺

The Spender personality (Monkey) 🐒

These guys are inspired by spending money. Passionate about buying things, after all, money is for spending.

What’s the point of having money in your bank account and not spending it? They reason this way. If money comes in, it must be spent. No discussion about that.

Spenders by nature like good things too. Why not? I work hard, and I deserve the latest iPhone.

These guys tend to look for promotional deals all around, too. It’s a win-win situation for them and for retailers like me.

No judgements. Spenders support the economy. The economy will struggle without these money-splash folks. If this is you, perhaps the boring B word is your starting point. Yes, start budgeting and have a plan for spending money. No need to aimlessly spend money without some form of a plan.

The Saver personality (Ant)🐜

Savers are technically the opposite of the spenders. Passionate about saving money, but often at a huge cost, mostly their happiness.

How do I know that?

Good question. I suffer from this condition myself.

I am a saver by nature. Confession time, my friend. Which one are you? No judgment by the way.

To me, spending money is awfully sore. Saving makes sense every day. I need to soften up a bit and indulge sometimes.

Thank goodness my wife is a spender. Apparently, opposites attract. Most of the time, savers are married to spenders. Talk about money discussions. Perhaps I should say money fights. It’s confession time.

It’s important to note that if both spenders and savers compromise, they can balance each other out and become a strong, effective team. It will be more like a money defender and a money striker. This combo can win your life matches.

The Avoider personality (Ostrich)

The name says it all. Let’s bury our heads in the sand, even our whole bodies. For sure, it will all come right.

Let’s not have a conversation about money. Let’s pretend everything is okay.

You can ignore your debt or visceral fat all year long. That won’t help. In fact, interest is growing. Avoiders need to learn to confront their money reality; take a baby step by printing their bank statements. It might be hard at first, but they will appreciate being in touch with reality.

Avoiders often take a wait-and-see approach. As a result, avoiders will probably miss payments or incur huge debt. Or perhaps a lack of retirement planning; retirement is miles away, no rush, they reason.

Not sure what they will be waiting for. Avoiders tend to avoid conflict, too; there’s no need to have hard conversations. Let’s sweep the crumbs under the rug. The problem is that the longer you avoid your issues, the more they compound. Nothing is static, by the way.

The Investor personality (Eagle) 🦅

This is a strategic visionary who takes matters into his hands.

These guys don’t wait for a financial saviour. They liberate themselves. They put their money to work instead of working for money forever. Eagles understand that no saviour is coming to rescue your personal finances; the power is in your talons and, of course, your wings.

Ideally, this should be our role model. Just don’t get carried away by the visionary mindset.

There is so much to life than investing money in an ETF and piling up money in your retirement annuity.

The downside, if any, for investors is that they become too wealthy. Good problem to have for most of us.

If you are the investor, just remember that life is more important than money. No need to obsess over compound interest calculators.

The Giver personality (Dog) 🐕‍🦺

These individuals have both warm hearts and warm hands. Just like a dog wagging its tail excitedly and licking strangers.

Unlike savers, who tend to have very warm hearts and cold hands.

The giver is just like the name. They give freely to others, except for their own financial security.

These are the guys to contact first when you need a loan and not Mashonisa.

Massive disadvantages, though. Givers tend to neglect their own financial needs while helping others.

These guys are passionate about fixing someone else’s roof, even though theirs has holes too.

Talk about putting your mask on first in the possibility of a plane crash.

Givers will help you put on your mask at their own detriment.

If you are a giver, please learn to love yourself first so that you can love others. A giving line item in your budget can be a good starting point, and know when to say no.

There are so many needs out there compared to resources; be at peace knowing that you can’t meet every family member or friend’s financial needs.

How to improve your money habits based on your personality

These money personalities are not meant to shame you, by the way. It’s just for self-awareness and self-reflection.

Remember that famous saying: know thyself.

Knowing your blind spots is important, not only on the road but in life, too.

Instead of guessing why you often behave in a certain way with your money, you now know why.

No need to play hide and seek with your personal finances. For the most part, we should all strive to be investors; financial freedom is possible by being diligent in our income, time, and health. It’s time to glide and soar like eagles.

Final thoughts on managing your money personality

So, which of these money characters are you? Search your heart and manage your money with awareness.

The goal is not to be a perfect money personality but to be intentional in understanding your money personality.

This intentionality and awareness can enable you to cultivate healthy money habits.