What Is Your Money Personality?

by Stacy Francis, CFP®, CDFA

Personalities are as different as snowflakes. And our personalities around money are no exception. Deborah Price, money coach and author, suggests there are eight money personalities that people fall into.

By understanding your own personal mythology and the history behind your current money type, Deborah believes you will become conscious of patterns and behavior that are preventing you from having the life you desire.

Read below to learn to understand how your money personality was formed and what you can do to change it.

The Innocent The Innocent takes the ostrich approach to money matters. Innocents often live in denial, burying their heads in the sand so they won't have to see what is going on around them.

The Victim Victims are prone to living in the past and blaming their financial woes on external factors. Victims generally have a litany of excuses for why they are not more successful, and they are all based on their historical mythology.

The Warrior The Warrior sets out to conquer the money world and is generally seen as successful in the business and financial worlds. Although Warriors will listen to advisors, they make their own decisions and rely on their own instincts and resources to guide them.

The Martyr Martyrs are so busy taking care of others' needs that they often neglect their own. Financially speaking, Martyrs generally do more for others than they do for themselves.

The Fool A gambler by nature, the Fool is always looking for a windfall of money by taking financial shortcuts. Until the Fool becomes enlightened she will continue to attract money easily, only to have it quickly slip through her fingers because she’s simply not paying attention.

Creator/Artist Creator/Artists often find living in the material world difficult and frequently have a conflicted love/hate relationship with money. Their negative beliefs about materialism only create a block to the very key to the freedom they so desire.

The Tyrant Tyrants use money to control people, events, and circumstances. The Tyrant hoards money, using it to manipulate and control others. Although Tyrants may have everything they need or desire, they never feel complete, comfortable, or at peace.

The Magician The Magician is the ideal money type. Using a new and ever-changing set of dynamics both in the material world and in the world of the Spirit, Magicians know how to transform and manifest their own financial reality.

Any of these sound familiar?

Read more about the games we play with our money and our "types" of relationship with money in Money Magic: Unleashing Your True Potential for Prosperity and Fulfillment by Deborah Price.

Stacy Francis is president and CEO of Francis Financial, Inc., a fee-only wealth management practice dedicated to investment advisory services for women, couples and those experiencing divorce. She is also the founder of Savvy Ladies®, a nonprofit organization that educates and empowers women to take control of their finances.

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Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

What Type of Spender Are You?

by Stacy Francis, CFP®, CDFA

One of my hubby’s friends works with statistics. He’s one of those people who take an honest interest in how many pets we have per capita in different states, and how many more children families produce in Arkansas than in New York. His latest thing is spending habits. I perked up when he told me his findings. After spending years and years analyzing who spends how much on what, he has started to divide spenders into six different categories.

1. The frugal spender. I know it sounds like an oxymoron. My hubby’s friend defines a frugal spender as “a person who spends as little as possible.”

2. The impulse spender. This person aims to be frugal, but can’t resist pulling out the plastic when he or she spots a good deal.

3. The indulgent spender. While this person may keep tabs on money spent on staples, he or she loves the sweet things in life: spas, vacations, designer clothing, five star restaurants, etc.

4. The balanced spender. This person buys mostly cheap things, with a few luxury items thrown into the mix.

5. The continuous over spender. This is the most dangerous kind of spender. Always in the red, this person fails to learn from his or her mistakes and continues to rack up more debt.

6. The guilt trip spender. This person is often a divorced parent or a cheating spouse. He or she often tries to mend a bad conscious by shelling out the big bucks.

Any of these sound familiar?

For additional reading on the topic of money personalities, check out What Is Your Money Personality?

Stacy Francis is president and CEO of Francis Financial, Inc., a fee-only wealth management practice dedicated to investment advisory services for women, couples and those experiencing divorce. She is also the founder of Savvy Ladies®, a nonprofit organization that educates and empowers women to take control of their finances.

1 Comment

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

March Is Women's History Month - Share Your Story

This year's theme for Women's History Month is "Weaving the Stories of Women’s Lives." In the coming months, Savvy Ladies would like to highlight your story. We’ve all had victories and defeats in our financial lives – sharing your wisdom from personal experience is a way to help support and encourage others in the Savvy Ladies community.

Please share your personal experiences, “aha!” moments and lessons learned by either leaving a comment below or sending your story directly to me at lisa@savvyladies.org

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Lisa Ernst Executive Director