We all have something we believe to be true about money — whether or not we can have it, whether or not we’re good with it, and whether or not we’ll achieve financial freedom. You probably already have a general idea of whether you’re a saver or a spender, but a good understanding of your money personality would go beyond those basic ideas, informing you on what really drives that behavior, what your money type means for the long term and much more. Financial Psychology occupies the space between psychology and behavioural economics. Advertisers and marketers are well aware of this and you would benefit immensely if time is taken to understand the respective money personas. Here are my seven money personalities: THE MONEY MONK Money monks think of money as dirty, bad, and that too much of it corrupts. The underlying belief for money monks is that "money is the root of all evil." They worry that they may become greedier and more selfish, and losing sight of po...
