Here’s the thing.
You can read every personal finance book and learn every budgeting trick and cut up your credit cards and decide you’re really going to commit this time, but if you’ve never examined why you treat money the way you treat it, you’ll always end up back where you started.
First, take this quick money personality quiz:
Watch this video to learn more about your money personality!
Here are all 4 money personalities (in case you're curious):
AA - The Complicator: More Money, More Problems!
Complicators love to plan, first and foremost, whether it feels like it or not. You are great at anticipating multiple what-if scenarios, finding the best deals, and stretching a dollar. Ask a complicator where to get the best dishwasher, air purifier, best donut - let’s just say “best of” lists were made for complicators.
Your attention to detail is meticulous and even if you don’t think you have a system for your finances, you do! For many complicators, you have spreadsheets for your spreadsheets.
The way you deal with the stress you feel around money is to try to make everything a priority. For Complicators, money means security and that can lead to never feeling like you’ll have enough.
We encourage Complicators to find something they can let go of or delegate. This may mean putting your bills on auto-pay or allowing a partner to manage a piece of the finances. We also encourage Complicators to allow themselves to splurge or buy something they might usually see as frivolous. Find the balance between saving for tomorrow and living for today.
BA - The Paper Chaser: More Money, NO Problems!
A Paper Chaser’s solution to their money problems is “I’ll just make more money and it will solve all my problems!” You’re great at seeing opportunities to make money. If you want to buy something and don’t have the money for it, your instinct isn’t to save up for it, but to create another income source, whether that’s a side hustle or a new credit card.
Because Paper Chasers are so good at making money, they struggle to keep it. They don’t like the idea of their money sitting in a savings account, “doing nothing.” You often find yourself chasing a series of short term goals instead of planning for the long term.
We encourage Paper Chasers to prioritize setting aside money for savings, but to take it a step further, think of your savings as another stream of income. This will help take the pressure off you needing to find the next big thing or the next income stream and allow you to have more space to choose what truly feels right for you.
AB - The Contemplator: I'll take care of it tomorrow...
If you’ve ever missed a bill payment even though you had the money, if you have a stack of unopened envelopes with your name on them (literally), if you’d rather do anything else than think about money, you might be a Contemplator.
While Complicators deal with money stress by making everything a priority, Contemplators deal with money stress by making nothing a priority. Instead the priority becomes whoever is knocking on the door the loudest.
Contemplators are great in the midst of chaos - when sh*t hits the fan, call a Contemplator! You often thrive in chaos and feel comfortable figuring things out on the fly, so sometimes they let themselves get into those types of situations.
We encourage Contemplators to know that you have a short attention span for thinking about your finances and plan for that! You don’t have to do it all at once and can break bigger tasks down to bite-size pieces. You can lean into your weaknesses as much as you lean into your strengths - you don’t have to hide from them.
BB - The Money Monk: Money changes people, man...
For Money Monks, it’s not that money is the root of all evil, it’s that the love of money is the root of all evil. But that’s not even the point. The point is the work and the people and the community come first. Money Monks are here to remind us all that money is not the point.
When a money monk has a lot of money, they are very generous. When a money monk doesn’t have a lot of money… they are very generous. Money Monks are great at valuing the people and the work, but allow themselves to just “get by” in the process, which means they are chronically underpaid and undervalued for their contributions.
We encourage Money Monks to think of themselves as a part of their community. If they accept a lower rate, they’re setting up the person behind them to get lower rates. If they begin to value the worth of their work, their community will benefit too