79: The 5 Money Personalities and Why They Matter
Whether we realize it or not, we all have a relationship with money. Some have a wonderful, healthy, and bountiful relationship with money. Others feel drained, owned, or overwhelmed by money. Every person has a unique way of thinking about and dealing with money. This is called a Money Personality.
Not everyone has the same money personality. Perhaps you can see it in your own children. Some kids save like money is going out of style. Others may earn a quarter just so that they can turn around and spend it on anything and everything. Like our own children, we have very different ways of thinking about and dealing with money.
It may seem obvious, but here’s a good reminder: most of us may assume that our spouse thinks about money like we do, and if they don’t, they are wrong. But, is that really true?
In Episode 79, Daniel and Christina help you discover what your Money Personality is in order to help you understand yourself and the way you think about/approach money.
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In This Episode, You Will Hear About:
- What the 5 Money Personalities are
- Saver
- Spender
- Risk Taker
- Security Seeker
- Flyer
- How to discover which Money Personality you are
- The strengths and shadow sides of each Money Personality
- What financial infidelity is and how to avoid it
Resources Mentioned During the Episode:
- Are you wanting to learn more about The 5 Money Personalities? Make sure to pick up The 5 Money Personalities: Speaking the Same Love and Money Language by Scott and Bethany Palmer
- Want to learn more about how marriage and money can successfully go hand in hand? Listen to Episode 17: Money and Marriage with author Art Rainer
- Pick up a copy of Art Rainer’s book The Marriage Challenge: A Financial Guide for Married Couples
- Are you wanting to teach your kids about handling money in a way they understand? Take a look at Art Rainer’s kids books to help your children learn about money: The Great Lemonade Standoff, The Mad Cash Dash, and Trouble At The Toy Store
- Want to learn how to raise children that are wise with their spending, saving, and giving? Listen to Episode 29: How to Raise a Money Savvy Kid with Rachel Cruze (daughter of Dave Ramsey)
- Pick up a copy of Rachel Cruze’s book Smart Money, Smart Kids: Raising the Next Generation to Win with Money
Quotables & Tweetables:
- “Sometimes the combination of different Money Personalities can create serious tension and conflict. But when you know and respect your spouse’s Money Personality, you will have a greater understanding of each other and hopefully money will no longer be such a “trigger point” to a heated discussion.” – @imbetweenshow
- “There is no right or wrong Money Personality. The goal of finding out your and your spouse’s money personality is to help you understand each other better and the way you think about and approach money.” – @imbetweenshow
- “In the grand scheme of things, it’s not really about the money. It’s about the relationship, it’s about trust, and respect, and communication.” – @imbetweenshow
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