Learn a bit about each of the 8 Financial Personalities. Which one do you identify with the most? No negative connotations intended for the animals just another way to learn.
The Squirrel (The Accumulator). The focus of this personality type is on saving and keeping what they have. Money is usually viewed as safety and security. The squirrel is often driven by the anxiety of not having enough in the future. (27% of the population).
The Hummingbird (The Spender). This money personality type lives for today. If the spender has some extra funds, and sometimes even if they don’t, they are known to host a party or take friends out for drinks. Money burns a hole in their pockets and they do not look to their financial future very often, if at all. (13% of the population).
The Butterfly (The Unconcerned). This money personality does not see the importance in having a working knowledge of money or investing. Their perspective is often, “what does it really matter as long as I am able to get by? I can always learn that later if I need to. Or someone else will do it for me.” (12% of the population).
The Owl (The Tycoon). Owls tend to take advantage of every opportunity to increase their net worth. This personality type enjoys learning in general, but especially about all things financial. Investing techniques and financial opportunities get the owl’s blood flowing. They may even freely share what they have learned with others. (14% of the population).
The Turtle (The Evader). The turtle tends to pull back and become fearful when decisions about money need to be made. Unlike the accumulator who is anxious about not having enough money, the evader fears not having enough information or making a financial mistake. The turtle will retreat into their shell when confronted with conversations or decisions about money. (23% of the population).
The Wildcat (The Gambler). The most common of the final three is the gambler. The wildcat takes great risks in pursuit of their goals. The gambler is always on the lookout for the next big payday. They are “the bigger the risk the bigger the reward” people. (6% of the population).
The Crow (The Opportunist). This personality type is the second rarest group. The opportunist has an insatiable need to “make it,” which is defined differently by each individual in this group. The extreme crow has few qualms about using or taking advantage of others if it will get them closer to their goals. (4% of the population).
The Golden Retriever (The Martyr). This group is by far the rarest. The martyr is always other centric. When faced with a choice of meeting their own needs or helping someone else, the martyr will usually help others and forgo what would have benefitted them. As a result, the martyr is often taken advantage of financially. (1% of the population).
As I will talk about soon, each of the personality types have pros and cons. The key is understanding them so that you can make the adjustments financially, socially, and personally.
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