Date post: | 13-Jan-2017 |
Category: |
Economy & Finance |
Upload: | allan-oulate |
View: | 189 times |
Download: | 0 times |
When you’re managing your finances,you’re likely to come across some
bumps in the road. Part of the reasonpeople struggle with money related
tasks is because they don’t understandtheir specific personality type and how
it interacts with their financialdecisions.
If you want to shift your habits, the bestway to gain success is work in line with
your natural tendencies. AuthorGretchen Rubin created four major
personality types, which she based onthe way people meet or resist inner and
outer expectations
You can gain a lot more success in yourfinancial life if you understand where
you fall within Rubin’s framework.Below are the four personality types
and how they should handle theirfinances:
Upholders are people who tend torespond to both inner and outer
expectations. They have to easiest timekeeping commitments to both
themselves and others, as well asforming new habits. Upholders don’t
have difficulty filing taxes by thedeadline or paying bills on time, which
are both outer expectations.
They also have an easy timeimplementing a new financial strategy,
such as setting a monthly budget ordiversifying an investment portfolio. It
is not stressful for upholders to do thesetasks because they accept the fact that
they must meet expectations to achievea bigger goal.
Obligers don’t have difficulty acceptingrules imposed from the outside. They
do, however, struggle to meetexpectations that come from within.
Obligers will meet conventionalexpectations such as paying their bills
and buying lunch for a coworker
But self-created goals like saving in anemployer-sponsored plan are hard for
obligers to implement. If you are anobliger, you need to create systems
focused on accountability. It is a goodidea to automate savings as a direct
deposit so you can gather up anemergency fund.
You may also want to seek the ongoinghelp of a family member, friend,
coworker or professional advisor inorder to establish and maintain a
system.
Questioners only meet expectations,both inner and outer, when they feel
that the rules make sense. They do nottake conventional rules of thumb at
face value, but instead do research andevaluate the pros and cons of various
decisions prior to making them.
If a rule does not make sense to aquestioner’s specific situation, theindividual will not follow the rules.Questioners are likely to complete
financial tasks alone and forge theirown path toward certain goals.
Rebels avoid the rules whether they arefrom outside sources or from within.
They consistently resist expectations,thus having difficulty forming new,
healthy habits over time.
They do not like control and thereforeavoid tasks like implementing investment
strategies or maintaining a monthlybudget. Rebels may seem dangerous when
it comes to financial management, butthere are a number of successful business
owners who fall into this category.
Rebels need to establish limits thatprovide ample leeway if they want to
succeed in the realm of personalfinance. It is also a good idea to have
outside accountability partners.