How 5 Personality Types Manage Their Money

by | Mar 29, 2017

You realise that your personality has an influence on your relationships with others, but have you ever considered how it impacts the way you look at, and manage, money?

Take a look at the following personality types. Individuals don’t have to fall squarely within one category…often they’ll have a mix of traits.

The key takeaway is understanding why you make the money decisions you do. What thoughts, ideas, belief systems, etc. are impacting your decisions and find a way to change negative decision making habits.

1. Conservatives


As you might imagine, conservatives tend to be more risk adverse than other personality types. If you’re conservative in personality you’ll likely have fewer debt and spending problems than other personality types.

That said, your conservative nature can also stand in the way of money making ventures (e.g. buying an investment property) that could significantly improve your financial position.

2. Thinkers


Thinkers work out their money management plans and decisions to the utmost detail, which is important to do. In fact, just like conservatives, thinkers are often good with their finances.

The tendency to plan, however, often leads the thinker to focus too much on the details at the expense of the overall goal; wealth creation.

Thinkers’ laser focus on the details will often lead to something termed “analysis paralysis”…the failure to act. The fear of making the wrong decision prevents them from taking a calculated risk in pursuit of a financial gain.

3. Optimists


Optimists tend to be of two basic types; realistic and idealistic.

While they’re both the type of individual who sees a glass as “half full”,  the way they make money decisions is different.

The realistic optimist will usually be more conscientious with their spending habits, whereas the idealistic optimist throws caution to the winds, often overextending themselves in the process.

4. Risk-Takers

risk taker

Just like optimists, risk takers can fall within two basic types; the realist and the idealist.

A realistic risk-taker is confident in their financial abilities, whether that means keeping a budget or buying an investment property.

They’re comfortable having little cash because they’re focused on getting access to more credit. They understand how to use leverage to improve their financial bottom line and they’re comfortable doing what it takes to get there.

Unlike the realistic risk-taker, the idealist risk-taker has a tendency to make a move before they’ve done all of the necessary research…they just assume that no matter what they’ll be able to work it out.

5. Emotional Spenders

Emotional Spenders

As you might imagine, emotional spenders are individuals who make decisions based upon how they feel. They feel conflicted about their money, leading them to become overly generous towards others, often to the detriment of their own financial situation.

Whatever your personality type, it’s important to be aware of your natural tendencies, especially those that inhibit your wealth creation efforts.

Enlist the help of others and make the most of your strengths to get the best results possible whether you’re buying an investment property or simply managing your day to day budget.


If you are interested in discussing similar matters with like-minded property investor people and professional coaches, feel free to join us at our next FREE Investor Property Night near you!



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