What’s Your Money Sign?

What’s Your Money Sign?


I’m addicted to internet personality tests. For instance, my inner Disney princess: Belle. I’m an ENFP on the Meyers Briggs, a 7 wing
6 on the Enneagram, and a Gryffindor, DUH. Those can be fun, but most of them don’t
have much practical use. Such an Enneagram 1 thing to say… However, psychologists and financial practitioners
around the globe have started to identify a myriad of distinct MONEY personalities. Now, this isn’t an exact science, but rather
a lens that you can look through to better understand your own money habits. The names vary slightly, but there are 6 main
types that seem to be emerging. Uncovering your personal money sign might
just be the lodestar that can guide you to a more healthy relationship with your money. Do you love playing the stock market? Do you spend your free time researching cryptocurrency
and emerging tech? Are you a Motley Fool premium subscriber? If you feel called out then you might be a
RISK TAKER. The great thing about this type is their high
financial literacy and openness to talking about money. However there are some hangups. Greg Davies who headed a financial behavior
department at Barclays observes that hopping from one opportunity to the next “fires
up the pleasure centers in the brain. The longer you stay in an addictive environment,
the more prone you are to bad decisions, which causes anxiety, which leads to overtrading
and therefore more anxiety.” So if this is you, try your best to slim down
your financial media intake and consider having a cooler financial head around you to bounce
ideas off of before you start learning how to day-trade or invest in your mother’s
best friend’s “surefire” business idea. Next up, the HOARDER. To Hoarders, money represents security against
the unknowns of the world. Building up savings comes easy to them. But there’s another side to that coin. Pun intended. That golden number of ultimate security seems
always just out of reach. And the minute you bring a non-hoarder partner
into the mix, things can get ugly. Activities like vacationing and going to a
nice restaurant can seem threatening to their stability. If this is you, you can ease the intensity
of those fears by having a having a cash-based budget. That way you can always see where your true
savings lies and can feel more at ease treating yourself and taking a calculated
risk now and then. Hello, I’m Julia and I’m a SOCIAL SPENDER. Hi, Julia. I love to shop simply for its own sake, but
usually not ever in large one time amounts… just small things all over the place. I also love to buy things for friends and
family and give my money away to causes I’m passionate about. To me, buying and spending is the ultimate freedom of expression which can obviously backfire pretty spectacularly. And if I’m honest, I tend to carry around
some shame that my type is inherently wrong and bound for financial ruin. Thankfully for me, I also found peace in…you
guessed it…a budget. Even though I was terrified that budgeting
would curb my fun, it ended up cutting the shame strings that were attached to that spending! Now, with a flexible plan, I can scratch my
shopping itch without sabotaging my future self Next we have those slayers of spreadsheets,
beancounters extraordinaire, the ENGINEERS; a type I know well. To us, money is a game. A game meant to be won through savvy and constant
vigilance which can sometimes border on obsession. We tend to be interested in investing but
are more anxious than our risk-taker cousins, likely to scuttle the ship at the first sign
of trouble. Claudia Hammond, a psychology lecturer notes
“people who find it hard to deal with the unpredictability of life can get super organized
about money.” If you’re like me, you might consider hiring a financial professional that can help you see the forest for the trees
and make sure you’re not over-complicating things. And if you’re partnered with a different
money type, a relationship counselor might not be the worst idea. We all have that friend that has to loudly
claim the check whenever they go out. They also probably have the latest smartphone,
a luxury car, and designer clothes. That’s the MOGUL. Money for them is a tool meant for a very
specific purpose; to achieve higher social status. Forget keeping up with the Joneses. They ARE the Joneses. Interestingly enough, the social groups that
have the highest prevalence of this behaviour tend to have a history of systemic poverty. The hottest luxury markets in the world are
in countries with below average household income.These visible displays of wealth are
meant to psychologically combat the perception of poverty. Social media only exacerbates this situation,
pressuring people to compete not just with their neighbors, but the whole world. So moguls seeking to be a healthier version
of themselves might consider limiting their social media interactions. Don’t let your flex gram of today leave
you scrounging for change in your later years. If I asked you how much you spend in a month,
could you tell me? What about how much you make or what’s in
your accounts right now? If you’re breaking out in hives just thinking
about it, then you may be our last type: The OSTRICH. Honestly, congrats for being here and watching
a financial video! Because for you, talking about money brings
up all sorts of bad feelings like fear, anxiety and disgust. This could be for many reasons. You might have a lot of shame about your current
situation or have experienced financial trauma in your past. You may be able to avoid confronting your
money fears for a time, but we all know that creates bigger problems down the road. Money avoidance has even been associated with
increased risk of overspending and compulsive buying. You’ll have to get your head out of the
sand, but you probably won’t be able to do it alone. Find someone who can hold your hand and help
you work through things like your spending habits or your debt picture. I promise, 90% of the time the situation isn’t
nearly as bad as ostriches imagine it to be. Darkness often acts like a steroid to your
fears. So, take a deep breath and text your most
supportive friend. You got this! While you may resonate more strongly with
one or two of these types, it’s important to remember we’re all ultimately a mix. We contain multitudes. Your personal money style is formed by your
family history, worldview, and experiences, and it’s neither good nor bad. The goal of identifying your sign is not to
change it, but hopefully empower you to become become a healthier version of your type. And in our personal and professional experience,
taking the time to get to know yourself better is one of the best investments you can make! And that’s our two cents! Thanks to our patrons for keeping Two Cents financially healthy! Click the link in the description to become a Two Cents patron! Okay, we gotta ask: What’s YOUR money sign? Let us know in the comments!

100 thoughts on “What’s Your Money Sign?

  1. Knowing these types now, I wonder which types would be most compatible and what would be the most likely outcome?
    If one person is a hoarder and their spouse is an ostrich, would that lead to fights or financial uncertainty?🤔

  2. when I was younger I guess I was a social spender, but after having a few difficult years I'm more of an engineer saving and investing so I'll be ready the next time (and hopefully for retirement as well)

  3. I am a mogul ostrich. But I am working on changing that!! Thanks legit to you guys, you all opened my eyes and my talks with my husband is a lot easier now.

  4. My husband is mostly a hoarder and sometimes a risk taker. I didn’t feel like I fit with any of the types, and may be a mix of all of them but ostrich.

  5. I'm definitely a social spender who's trying to adapt more engineer like qualities into my daily life and spending/saving habits 🙂

  6. I'm an engineer for sure (yay couple's counselling). My boyfriend is an ostrich, his sister is a butterfly and my best friend is a mogul. And they fit so well.

  7. Not sure if you’ve covered this in an older video but a video on fake gurus selling courses on how to become wealthy would be great. Either way, thank you for what you do. Coming from the project, a lot of the ideas and strategies I learned on this channel have been so helpful for me as I learn to manage money for me and my family.

  8. I'm a recovering engineer/hoarder paired with a recovered mogul/social spender. Needless to say… We compliment each other.

  9. Hoarders are just cheap people.
    Us Indians know all about it.

    I would be a risk taker, engineer and hoarder at the same time.

  10. Combination of hoarder and engineer. It seems like most of us here are that type, as the people who are most likely to enjoy this channel should be our type, at least not the ostriches lol

  11. i am risk taker, making big mistake and now i am in big trouble after losing my saving on stock market 😖😖😖😖😖

  12. What the actual hell, my sign is engineer and I legit have thought to myself of finances and credit scores like some kind of game and this video described me too the T 🤓

  13. 4:37 приплетаю Россию к показушникам. А вообще хотел сказать спасибо за полезный контент, действительно интересно и живо рассказываете. Особенно девушка, интонации потрясающие.

  14. Definitely I am an engineer and my wife is a dragon. I love the puzzle of how to maximize things and she is an incredible saver =D

  15. Definitely hoarder with a dash of engineer (because if you want to grow the hoard you have to be obsessively organized) here. While a budget may be good because it shows you how much you're saving and where your savings are going, it also shows you your expenses and it's not that convenient. EX: My food budget for month 1 is 400USD but I only spend 325USD, good, this means I can lower my food budget to 350USD for the following months and increase my savings… Until you're struggling with groceries because your budget got so low you can't "afford" to prepare food for a gathering larger than 4 people. Been there, done that unfortunately. XD

  16. Im the hoarder-engineer. I am saver/planner starting to diversify through a mutual fund, an index fund and crowdfactoring app.

  17. I'm a horder! luckily for me I'm married to a social butterfly and risk taker. We have a budget, and I save all I can. He helps me to see the better opportunities wen we shop, he helps me spend.

  18. I am such a MIX! I think my tendency is to be a social spender, but I hear my dad in my head and start reigning in my spending so I can engineer and save, but OO SALES! lol Unfortunately, I sometimes feel defeated and then get anxious and can be an ostrich for a bit. In general, the bills get paid and I have some in savings, but sometimes my credit cards can get a bit out of hand.

  19. I'm mostly a hoarder who budgets so I can still be a social spender occasionally. Financial risks are terrifying for me, and when I save money for one thing or another, I always worry it's never enough and try to hustle for more money. Social spending tends to tempt me when I can see myself enjoying the experience more so than something material.

  20. It seems that none of the types is a perfect match. Loosely speaking, I may be an equal mix of all six types. So what would be the financial advice for me?

  21. hmm. I am curious which, if any I fit:
    * I set a budget for all fixed expenses and bills, and have the exact amount + a very tiny buffer go to an account where all fixed expenses and bills auto-pay from
    * All money not set for fixed expenses and bills is dropped into a general account where gas, groceries, fun, and anything not 'fixed' draws from. I do not budget or pay attention to this much, except to check my account balance every week to make sure I do not over-draw (I always know roughly how much is in there.
    * Only debt is mortgage and home equity line
    * I keep about $2k in savings, which is less than my mortgage payment
    * I am terrible at trying to save, so do not bother, apart from a 401k at work
    * My house, car, cloths, etc are all fairly minimalist, not luxury, but get the job done (3 bedroom (I have 3 kids, so more bedrooms would be nice), drive a subaru, most of my cloths are t-shirts 2+ years old)
    * At the end of each month my balance tends to remain stable, not dripping into debt or growing into savings.
    * On dates I expect to pick up the check, and do not think twice about spontaneous fun, So no anxiety or shame about most spending, but also no desire to throw money away or be stupid with it, I do at least think "Can I do this, and should I do this" and the answer is typically a 'yes' or 'no within 5 seconds.

  22. I'm a Hoarder and proud of it! When I see Moguls, I like to take a guess at how much debt they have. One day I'll be brave enough to actually ask one.

  23. I spend every Saturday morning poring over the spreadsheets I update on a daily basis. Sometimes I need to step away from them because instead of bringing clarity, they induce stress! Definitely the Engineer. 😟

  24. I might be a social spender with slight ostrich tendencies if it comes to it… Building a budget seems scary and overwhelming….

  25. I'm an Ostrich, with a little bit of Engineer. I have less than the best memory, so I have to make lists, charts, and budgets, although I'd rather not. I'm at my happiest when I know that I have plenty of money for my next cheeseburger. Don't have to worry about it!

  26. I’m a mix of social spender and hoarder lol. So I’m like hoarder lite. And an aspiring Mogul lol. Somehow I’m both a hoarder and an ostrich lol. I don’t like opening my bank statements.

  27. I'm probably a dragon with a bit of ostrich, that seems like a very strange beast 😀
    Your videos make me want to add a bit of engineer in that, but then I never take action…

  28. My family is a group of risk-takers. Our family is OK with money. Don't worry, I'm a kid, so I don't have stocks, and Mom only has a few stocks, and she doesn't bounce from trend to trend. We aren't moguls. We have a Honda (cheap), Apple devices, well our family has some, but we don't care as long as it works, and so on.

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