Long-time readers of this blog are familiar with the four money personalities I discuss: the giver, the saver, the spender, and the acquirer. Over time, though, I’ve learned that while people tend to understand the first three, they often stumble over the last one. On first blush, people generally thought the “acquirer” referred to someone who liked to accumulate or collect things. However, that couldn’t be further from the truth. The acquirer was someone focused on how money came into their life, not what was done with the money after it was received.
What's Your Financial Kryptonite?
Spender vs. Saver
At a recent Love & Money Brunch, I invited participants to break into groups by their money personalities. Interestingly, most couples were split, each with a spender and a saver. As we discussed the strengths and blind spots of each money personality, there were plenty of playful jabs being tossed from one side to another: “At least I know how to find a good value on a coat rather than wearing one with holes in it.” “Well, someone in the family has to think about our future.” All was said in a kind-hearted way, but there was definitely an undercurrent of tension.
Finding the Right Balance
Have you ever noticed that most personal finance books and blogs are focused on tips to help people save more and spend less? It’s as if the assumption is that people are naturally spenders who need help fighting their natural inclinations — and there’s a bit of subtle shaming that comes with that tendency.
Learning from Your Money Story
Have you ever heard someone say “money is just a piece of paper”? I get where they are coming from – it really is just a piece of paper. But what it represents and the power that we give to money can make it so much more (or so much less). Much of how we view and use money is forged in our early years by watching the people we love handle it. We take on the positive behaviors they taught us, but we may also bring with it their fears, anxieties, and blind spots about money as well.
What’s Your Money Superpower?
What's Your Money Personality?
When money comes your way — whether that’s a paycheck, side hustle income, or an unexpected tax refund — what’s your first instinct? How you answer may say a lot about your money personality. Are you a saver, spender, giver, or acquirer? You may be just one, or a combination of two. No money personality is better than the other; each has strengths and growth areas.
It may help to think back to how you handled money growing up. As a kid, I can still remember the joy I experienced as I gave part or all of my babysitting money away. I know — I was a pretty odd kid! But it always came back to already having all of my needs met and wanting to use my money to help others.