What is your money style? According to Wife.org there are 3 basic money styles; hoarder, avoider, or splurger. If you don’t know what your money style is you can take the quiz over on Wife.org.
I don’t even need to take the quiz. I know I’m a hoarder. What are you?
Think about your money style and consider the following questions.
- Do your friends and family members have the same money style?
- What are the advantages in your life of your money style? The disadvantages?
- When have you done something completely out of character with regard to money?
- How has your money style affected your interactions with others?
- If you could change just one thing about your money style, what would it be?
I’m going to answer the questions myself and I encourage you do the same.
Do your friends and family members have the same money style?
Some do but most don’t.
What are the advantages in your life of your money style? The disadvantages?
Advantages: I feel like it gives me the most control over my financial life. It also allows me to enjoy saving money which therefore leaves me with a good chunk of savings.
Disadvantages: I have a hard time spending money frivolously, which I think affects the fun in my life.
When have you done something completely out of character with regard to money?
I landscaped our backyard using a credit card. That’s the only time in my life I’ve put money on a credit card without a solid plan to pay it back. I wouldn’t have done it before that, and I wouldn’t do it today. I’m not sure what was going on at that moment that I decided it was a good idea.
How has your money style affected your interactions with others?
I think that it has affected the number of friends that I have. I think I would have more friends if I was willing to spend more money on having fun. Sometimes I turn down invitations because I don’t want to spend the money for the event. Thinking about this question I start to wonder if perhaps people have taken my reluctance to participate personally. I realize now that instead of just saying “No thanks.” I should offer an activity in a price range I feel more comfortable with. Even if they say “No” at least they will know I wasn’t trying avoid hanging out with them.
If you could change just one thing about your money style, what would it be?
I would want to spend more money on fun. I want to go out and do things, I just hate spending the money. Intellectually I understand the importance of “fun money” but when it comes down to it I don’t like parting with my cash.