When it comes to finances do you know who you are? Surely, those who excel at it definitely do right? I believe a good portion of people in the world who struggle with finances, do not have a clue as to who they are when it comes their financial being. Mostly, when it comes to money, people usually only think about two personas, the "Spender and the Saver". If by chance you've come to the conclusion that you may be one of these then read on, you may soon find out that you're a combination of two others also.
There are four personalities and a combination of the four that exist in the world of finance. The handling of money and the degree of how we use and understand money, will always differ among people. The only thing that separate the rich from the poor is knowledge, not money. Money goes where it is accepted, it flows when it is released and it stays as long as it is held. So lets take a look at personalities that handle money.
Savings Account Wizard
This person is a master of the savings plan. They have totally defeated the bug of instant gratification. They do not waste money on the now. Instead of buying groceries for one meal, they will buy in bulk for a weeks worth. Being a complete opposite of the spender, I guarantee they can tell you down to the last cent, how much money they have in their account. They look for the best deals and always question the price of items before purchasing. These people are usually the ones who are told "you don't get out enough" or "you never like to have fun, you need to live a little". The reason behind this, the saver is saving to much of their earnings. Life is dull and non exciting if this person doesn't have the total opposite persona activated in their life by family or friend.
Truthfully, I don't see how one could keep a friend around if he/she is not willing to splurge a little bit, for the sake of fun and friendship. On the other hand, being a Savings Account Wizard is not bad at all, if it's kept in balance with calculated moments of splurge. Usually, when its time to make purchases for the necessities of life, they have readily available funds. Savers, for the most of them, don't carry credit cards or very rarely use them, keeping debt down to a minimum. They tend to hate automatic withdrawals because their saving is a security blanket amidst chaos or uncertainty. Certainly not least, these people are the best friends to have when you are stuck in a jam.
2. Big Money Spender
After holding back the urges of life with all its delicacies and fun, I have to spend money on a good thing sometimes. Spenders love to spend money for a good time. Usually they are the life of the party. These people like new things, like gadgets, clothes, cars, phones and the list goes on. People with a spending personality when it comes to finances, cash on hand is a must. Items that become available no matter where, must be able to be bought at a moments notice. Spenders will by the shirt off your back if its what they want.
Being a Spender, the flow of money leaving the hand, account, or someone else holdings, doesn't bother them the least. The comfort they feel in spending money is at the same level of security for a Saver. If it's bad, the Spender don't fear going into debt, collecting credit cards and borrowing money from family and friends. Sometimes paying off financial debt is a way of life for the Big Money Spender. Outweighing the cons, having an awesome paying job or a lucrative business being a spender can make you the talk of the town. Balance is always key to enjoying life when money is being spent. Being a Spender has always gained me more friends than I have ever counted . Be careful being a Spender your habit tend to attract those who could make your life worst, especially if they do not intend to greet you with open hands.
3. Money Is The Root of All Evil
I believe this person is the worst of all five personas. By description this person has no real good thought about money. They believe money is actually the root of all evil. If not evil, they believe having to much money is not necessary or just. Status quo is the life style for these people. Their financial future does not look good. A lot of sitting around and gossiping about the next person, definitely goes hand and hand. Usually a lot of time is spent idling around and paying bills. Government assistance like Section 8 is a running generational curse for this type.
This one saying, "money is the root of all evil" has made a lot of people poor. Believing a doctrine that is not even in the bible, is what baffles me. 1 Timothy 6:10 actually says, "For the LOVE of money is the root of all evil". As they say, "it only takes one to spoil the bunch". This is definitely the case here. Wrong turns are made when wrong directions are given.
4. The Investor
This persona loves making calculated decisions concerning their finances. Understanding that their money will actually go to work for them, investors treat their coin as slaves. Buying low and selling high has always worked for me. Investors tend to have the most education on currency, stock and trade. Whether it is instinctively or strategically, investors will always continue to invest because there is money to be had. Making investments for the investor always outweigh leaving money in a simple savings account accruing very little interest.
Being an investor you ride the bull and hibernate with the bear. Deciding whether you're making a long term vs. a short term investment will ultimately decide your life style and future. Opposite of the Spender the investor will make sure his/her money go to work for them immediately. Being a slave master of money is definitely the way to go. Making profit from financial seeds sown in the market and replanting select portions of it will gain the investor a fortune, making them seriously rich and wealthy. Life of the investor is quite interesting. Not only are they planning financially, they are usually planning other life events and constructing other business ideas to obtain a dream or vision.
In life we can't choose who we are born to and where we begin life. Never settle for the truth of one man. Always seek council concerning life in the company of wise men and women. Begin your day commanding what it will be and settle for nothing less. Your financial situation doesn't have to stay the same, if its bad make it good, if it's good make it better. Knowledge is what separates us. keep learning and always apply wisdom.