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Money management has always been a particularly controversial issue. The experts in personal finance suggest the best practices to avoid falling into bitter economic crises that harm our quality of life, however our financial personality and the lifestyle we usually lead are more important when interpreting the value of money and be able to handle it effectively. Learn more at http://www.acpigeons.com/bad-credit-loans-bad-credit-loans-guaranteed-loan-approval-quick-cash/

Financial personalities are those particular characteristics that indicate the reactions that a person has regarding the management of their finances and allow us to identify the behaviors that could be generating a disorder in the use of their financial resources in order to find appropriate solutions to the problems we have with our economy.

People’s financial behaviors can be grouped into these four types of personalities. Analyze them and conclude what their style is when managing money is:

The fearful

This financial personality is characteristic of those who EXCESSIVELY care about their economic security and that of their family. Their biggest fear is losing control and they feel panic about the shortage, so they avoid incurring “extra” expenses that qualify as unnecessary. They have no debts, their priority is savings and they have never considered having a credit card or accessing loans for education or housing.

For those who identify with this type of personality, I recommend setting specific goals and objectives as it is no use to accumulate and accumulate money without having a clear horizon. While saving is indispensable for the finances of any individual, you have to enjoy money through responsible and intelligent spending.

The Analytical

The Analytical

Those who are characterized by taking care of the details, planning and having a keen sense of responsibility could be classified as analytical. These people feel more fear than greed and therefore do not give priority to consumption and shopping. While analyzing and controlling expenses is important for our financial stability, extreme this premise can lead us to indecision due to the fear and insecurity that causes us to overlook some detail that could harm our pocket.

These types of people generally avoid risks at all costs and prefer, on the contrary, safe and traditional investments. My recommendation for them is that they are less controlling, safer in their decisions and determined when buying, selling or investing since they can lose excellent opportunities for fear of taking risks and making mistakes.

The wasteful

The wasteful

These characters are the hosts of each celebration; They enjoy spending and this is the reason why they are always the guests, they pay how much activity they do with their friends and at the end of the month they never have money. They usually have at least two credit cards inside their wallet and their “breadth” with others prevents them from controlling their expenses so they end up accumulating debts. They are lovers of exclusive and expensive products and are never intimidated by prices because they resort to how much credit they find. They do not keep accounts or are aware of the relationship between their income and their expenses.

For this financial personality, I advise to start being aware of the use of credit cards; A good tactic is not to carry credit cards or just carry one and leave the others at home when you go shopping. At the time of making a purchase, evaluate if it is necessary and if it is justified to incur interest payments for its acquisition.

The impulsive


Those who have this type of financial personality are precipitated in their actions and usually resort to spending when frustration and depression invade them. Anxiety often leads them to make more emotional and less rational decisions and often spend large sums of money because they always have their credit cards with them. They usually justify their expenses with phrases like “I deserve it” “for that I work” “is a taste” but at the end of each month they live complaining about how precarious their income is.

The most favorable for this type of people is to make automatic deductions for savings purposes to avoid that all the money received for income is destined for consumption. It is also advisable to have a savings account intended ONLY for this purpose and not mix it with the money that will be used month to month to cover the expenses stipulated within the budget.



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