Everyone thinks of money differently. Perhaps your grandmother clipped coupons and watched every penny, while your neighbor never seems to think about tomorrow when he has money today, while “you” love to dream about your retirement to a tropical paradise someday. The way you think about money (the type of money personality you possess), becomes a big part of your overall financial picture. Finding your personality can help you set goals and plan more effectively.
When it comes to spending, maybe you’re a hoarder, the overly thrifty type who loves to save money and who always thinks twice about purchases. Maybe you’re a spender, happy as a clam in a mall, a flea market, or on any shopping website. Hoarders and spenders both like money, either having or using it.
Perhaps you’re a planner, with spreadsheets and contingencies for all your expenses, taking life one-step at a time. Or, perhaps you’re the dreamer who loves the big picture but doesn’t know how to make those dreams come true on a day-to-day basis.
When it comes to money within the marriage, you might be a merger, preferring the simplicity of jointly held accounts that can be easily tallied. Alternatively, you might instead be a separatist, enjoying the independence that comes from having your own money to spend as you like. This personality category can be a big problem if spouses don’t agree!
You might be a risk-taker, willing to take your lumps in the market in pursuit of big gains on adventurous investments. You might also be a risk-avoider, preferring to keep your nest egg someplace safe and boring rather than risk it cracking.
As a member of Wayne Westland Federal Credit Union, you can take advantage of the Accel program, a free financial education and counseling program. To use this service, simply call 1-877-33ACCEL (332-2235) or visit them on the web at www.accelservices.org