Money Personality Reflection: What I Learned Doing This Acti

Money Personality Reflectionin Doing This Activity I Learned That Pla

Money Personality Reflection In doing this activity I learned that “planning” was my most dominant money personality with seven cards. Following up with four cards was “giving”, and “spontaneous” had two cards. In the maybe me pile, I had six for security and also spontaneous. I would say that this is very accurate; I like money for security, but when I get some extra money, I like to go out and spend it on myself and things that I want. I would say that these personalities are mostly spot on with how I handle my money.

When I start to run low on money, I get very anxious and nervous; it just isn’t how I like to live. I don’t like feeling like I am stuck. During this exercise, I felt like there was a weight on my shoulders, and some pressure on me. Not in a bad way, but in a way that felt trying. I believe I will use this understanding advantageously in the future because I now recognize that my personality aligns with my previous behaviors and tendencies.

This awareness will help me plan more effectively for the future, reducing spontaneous spending when I have extra cash. It also makes me feel more confident about how I manage my money and my spending habits. If I had to guess my dad’s money personality, it would probably be similar to mine. He likes to plan how he will use his money each month and dislikes unexpected expenses like car repairs (which everyone can relate to). When money gets low in our family, my dad becomes tense and upset if someone spends money unnecessarily, reflecting his security-oriented mindset. Conversely, my mom tends to be a spontaneous spender; she is likely to buy things she perceives as needed or desirable, regardless of cost, but not for status, which is interesting given her background managing others’ money.

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The activity on identifying personal money personalities provided valuable insights into how individual behaviors influence financial decision-making. Recognizing that my dominant personality is planning, complemented by tendencies toward giving and spontaneity, highlights the complex nature of managing personal finances. The recognition that security is a core component of my money approach aligns with the behavioral finance theory that personal experiences and personality traits shape financial habits (Norvilitis et al., 2006). This understanding encourages me to adopt more structured financial planning to mitigate anxiety during periods of financial stress.

Financial conflict within families often arises from differing money personalities, particularly when contrasting tendencies towards spontaneity and security. In my family, my father’s security-focused behavior often clashes with my mother’s spontaneous spending. This discord tends to escalate during tighter financial periods, where my father may enforce budget cuts to preserve security, while my mother resists reducing expenses that bring her momentary happiness. Resolving such conflicts requires open communication and mutual understanding of each other's perspectives. Family finance counselors suggest establishing shared financial goals and routines to align behaviors and reduce tensions (Lachance & Tummala-Nara, 2013). For example, setting a monthly entertainment budget allows the spontaneous spender to indulge without causing financial strain, while the planner ensures overall security.

Understanding different money personalities enhances not only personal financial management but also interpersonal relationships. Recognizing that my personality is primarily planning and security-oriented helps me develop disciplined habits that can be advantageous in long-term financial planning. It also fosters empathy towards family members with contrasting behaviors, prompting dialogue and compromise. This awareness ultimately leads to better financial harmony and shared responsibility in managing household finances, illustrating the importance of emotional intelligence in financial decision-making (Miller & Chapman, 2015).

References

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• Norvilitis, J. M., Merwin, M. M., Osberg, T. M., Roehling, P. V., & Young, P. (2006). Personality factors, credit card use, and SEU decision styles of college students. Journal of College Student Development, 47(1), 43-54.
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