A man’s style is his mind’s voice. Wooded minds, wooden voices – Ralph Waldo Emerson

Ever wondered why people use money in different ways? Why someone who earns KES 30,000 would decide to buy a car, while another person who earns the same would choose not to. Or why few 25 year olds have vast investments while majority of them are still searching for employment?

Many forces impact the development of our money personality. If might be advertising, media, society, friends, family or just desire to fill that internal vacuum. While these forces impact us differently, our money personality differs. What is your money personality, where do you fit?

The hoarder: This is someone who likes to save, budgets and prioritizes before spending. He lives below his means and, to a great extent, has secured his financial future. He is the person people turn to for credit and the person people look up to for financial advice. He is disliked for his financial stand, and wouldn’t go out of his way to please others.

The Spender: Simply put, the spender likes to spend. His bank statement has more withdrawal transactions as compared to deposits. Hardly has any savings and lives pay cheque to pay cheque. He owns stuff he doesn’t use and tends to be broke ten days after pay day. He mostly lives a life based on credit and uses what he earns to support a higher lifestyle.

The planner: This is the nitty-gritty, take-it-one-step-at-a-time type of guy. He never makes a move before contemplating the consequences of his actions and due to his cautious nature he misses out on most investment opportunities. He is slow at making decisions and his planning nature does not necessarily mean he is able to save.

The dreamer: This guy hatches passionate schemes, but has no idea how to make them come true. He mostly talks of how he intends to start significant projects and budgets for money he doesn't have.

 The merger: He is a man of many friends. Wants to pull all the couple’s money together and like the dreamer has a passionate scheme which he can’t start on his own. Somewhat he is afraid of investing alone thus needs to merge with others to minimize on risks.

The separatist: He is an absolute opposite of the merger. Prefers to work alone and keeps his passionate schemes to himself. Whenever a business opportunity presents itself, he wouldn’t disclose it to others and prefers going in by himself.

The risk taker: He loves adventurous investing. Doesn’t go for the norm, but prefers to take risks and stand out. He knows of the risks he might get in but that isn’t a deterring factor. He is driven by desire to achieve and wants to be the first to have accomplished something.

The risk-avoider: This guy goes for the sure thing. He would rather save than make risky investment. He’s has no backup plan and he’s greatest fear is unemployment. Sad to say, he would most probably die having not made any investments, leaving behind no legacy.

What’s your money personality?

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