What’s Your Personality?
We know that there are two types of investors, the active and the passive. But an even broader classification of individuals is also formulated by someone who knows what they are talking about.
According to Investopedia, there are five types of money personalities. It is essential that you should know what your money personality is so that you can take the proper step to prepare for your future.
The five types are: big spenders, savers, shoppers, debtors, and investors. They are pretty much self explanatory right? Big spenders are those who love the good things in life, no, make that “great” things in life. They know that they have the buying power and they would not think twice about spending a small fortune on a new gadget, clothing, or cars.
Savers on the other hand are the antitheses of big spenders. You are a saver if you turn off all the unnecessary electrical appliances when not in use. They are known to be the Toyota Prius of people. There are only three things important to them when it comes to money; save, save, and save.
Shoppers are those who want to keep up with the big spenders. They love to buy things but does not necessarily have the means to buy what they want all the time. They know that they are addicted to buying things and they would be looking for bargains so that they can buy more for less.
Debtors. These are interesting people as they are not addicted to shopping and they do not go for lavish things all the time, but still end up always broke. If you don’t where your money went, only that you are out of it, then, you are a debtor. Better take some drastic steps to change your personality. You can try trend following trading systems which gives good returns for our investments.
Investors know the value of money and how it can help keep their future secured. You are an investor if you actively put your money to work, not keeping it stagnant but always looking for ways to get more out of investments. Of the five personalities, I think that investors would have a bigger chance of ending up on the beach in the Bahamas after retirement.
