Let’s Talk About Money: How Personality Shapes Your Spending Habits
I’ve always been drawn towards understanding why we do what we do, particularly when it comes to personality traits. There are numerous personality classifications out there, such as the Myers-Briggs types, that many of us might identify with. These classifications might seem general but they actually do a pretty good job of describing how most of us behave, with just a few exceptions.
A while back, financial planner Ray Linder discovered that individuals could also be grouped based on their money habits. It turns out that Jungian psychology, the foundation of the Myers-Briggs test, was helpful here too. Ultimately, he broke down money handling into four broad styles – Protectors, Planners, Pleasers, and Players.
Protectors might be folks with no debt and strict saving plans. They are likely to pay off debt immediately if required. If you identify as an ESTJ, ESFJ, ISTJ, or ISFJ in Myers-Briggs types, you could be a Protector.
Planners, on the other hand, are flexible with their investing and have no issue spending money if it aids their primary aim. If you’re an ENTJ, ENTP, INTJ, or INTP, this could be you.
Pleasers get happiness by spending on others. If you often feel like people exploit your generosity and have some debt, you’re probably a Pleaser. ENFJ, ENFP, INFJ, or INFP might be your Myers-Briggs type.
Players believe that money is made to be spent. If you’re often in debt because you always find something exciting to buy or do, you could be a Player. ESTP, ESFP, ISTP, or ISFP Myers-Briggs types often fall into the category of Players.
Now, I came across an infographic discussing how personality impacts salary, but I’m a bit uncertain about its precision, especially in regard to the education data. Nevertheless, it’s surely food for thought.
So, readers, can you figure out what money personality type you are? Let me know down in the comments, and don’t forget to share this article with your friends too. It might just help them understand their own money habits a little better.