Often within our closest group we tend to divide people between ‘savers’ and ‘spends’. However, there are many intermediate points.
is a Japanese psychologist who has studied the relationship between emotions and personal finances, author of the best-seller Happy Money: the Japanese art of being at peace with your money.
Honda describes in his book up to 7 different profiles that a person can have based on how he acts and feels with his money. From going through the ‘spendthrift saved by savings’ or the moneymaker.
The author delves into how knowing and knowing how to identify with one of our profiles can help us have a healthier relationship with our personal finances and know what points we must correct to, for example, or perhaps not be so excessively low risk.
The 7 types of personalities that exist with money
“Each of us has their own beliefs and emotions about money, and most of them are shaped by our individual life experiences, for example, passed down from our parents or influenced by our current situations,” the author.
These are the 7 personalities related to money that Honda describes and the traits that serve to identify and recognize them:
1. The Compulsive Saver
– Save money endlessly, sometimes without a real goal in mind.
– You believe that saving money is the only way to feel more secure in life.
– He is very frugal with all his expenses.
Honda says that some compulsive savers are so afraid of losing money that they spend everything without allowing themselves enjoyment such as hobbies or activities that could bring them happiness. Finding a balance between these issues is advisable.
2. The Spendthrift
– You tend to spend money on things you don’t necessarily need.
– He has an outgoing personality and loves to treat people to something special, sometimes for no particular reason.
– When you have emotional problems, your solution sometimes is to spend.
In extreme cases, they may risk bankruptcy if they consistently spend more than they earn. Honda recommends in these cases closing budgets, leaving a limited item for whims and being aware of the need to save for retirement or possible unforeseen events.
3. The ‘moneymaker’ or obsessed with making money
– He believes that earning more and more money is the secret of happiness.
– Spend most of your energy trying to make as much money as possible.
– You are pleased with the status that this money gives you and makes it visible to others.
The Japanese author points out the dangers of this profile in that it can often fall into obsessed with money, which makes you work holidays leaving personal relationships aside. For them, Honda recommends donating part of his money and getting involved in volunteer work, which he believes is a good way to get out of that circle and see other possibilities for his money besides his own benefit.
4. The one who is indifferent to money or the one who does not care
– You rarely think about money or check your checking accounts
– They categorically think that money should not prevail in any decision of their life.
Dangers: Many people who are indifferent to money believe that they only need a modest amount of money to be happy, which is a healthy mindset. But this is a bad decision when they come unforeseen. Honda recommends these people order their monthly expenses and be aware of what they would have to deprive themselves at a bad time.
5. The spender masquerading as a saver
– It has common traits between savers and spenders.
– Start by saving a lot of money, but then give in to impulses to spend on any foolishness.
– When you use your savings, you can spend on things you don’t need or rarely use.
Honda qualifies as emotionally exhausting this profile in which it goes from compulsive saving to compulsive splurge. Savers often end up stressed and disappointed in themselves for working so hard to save and then spending it right off the bat.
The author recommends for these people to do the exercise of postponing a major expense if possible for a couple of weeks, and see if it is so necessary for them then.
6. The player or bettor
– It is not difficult for him to risk his money for the pleasure of the reward.
– Sometimes spends out of sheer boredom
This profile fits directly with that of a person who is used to betting and can cross the line, but also with that of an investor who is too risky. Setting aside a fixed amount of monthly savings is the recommendation that Honda gives and be strict with not touching it even though it may lose value due to inflation.
7. The Forever Worried
– It does not matter if he is doing very well financially: he is always overwhelmed by being able to lose it.
– He becomes obsessed with the worst possible scenario, which is also usually the most unlikely.
Honda emphasizes that although it is always good to position yourself once in a bad situation to be aware, this should not limit our happiness. Especially if it goes well. Here Honda’s recommendation is to go to a financial adviser or even therapy to iron out those fears.
Facebook Comments
Disqus