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Dysfunctional Financial Personalities
From Free The Drones Personal Finance Blog:
- The Peacock, who splurges on expensive stuff to impress other people and keep up with the Jones.
- The Mattress Stuffer, who is terrified of the stock market and ends up with tiny retirement savings by sticking to the most conservative investments possible.
- The Foot Dragger, who puts off saving for retirement until it’s nearly impossible to do.
- The Emotional Spender who spends not because they need something, or even because they really want it, but because they have stress or problems in other areas of their lives.
So far, I have been at different times in the last 5 years, a Mattress Stuffer and a variation of Foot dragger, the kind which pushes investment in a sector\company though He\She knows it will do well. A suggestion for personality:
- The Ostrich who avoids all things financial, this includes reading, budgeting planning and investment. This is a more common version of the Foot Dragger.
Amit
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Good post! But I can hardly associate myself with any of these types of personality. I do not invest now but I am not afraid investing, I just don’t have enough money for this. And besides, stock market is not for me. I have no interest in it. So, what kind of personality I am?
Comment by Jess — December 17, 2007 @ 3:39 amJess,
>And besides, stock market is not for me.
That is on the lines of saying, earning money is not for me!
Whenever you are ready, start small. Instead of stock market, invest in mutual funds. Instead of mutual funds, start with a index mutual fund which is linked to S&P 500, etc.
Amit
PS: About the personality, you know best…
Comment by Amit D. Chaudhary — December 17, 2007 @ 8:53 am