Money Personalities 101

Money Personalities 101

  • Does talking about money issues increase your heart rate?
  • Do you often feel stuck when making financial decisions?
  • Do you turn to spending because it will make you feel better?
  • Do you procrastinate opening bills in the mail because you jut don’t want to think about it?
  • Do major purchases make you nervous, and/or elicit a looooooong research process before you can pull the trigger?

These are all indicators of an unhealthy relationship with money. But the good news is, you’re not alone. We are ALL working to try to find some balance in this area. That’s why Olivia Mellan’s concept of Money Harmony is so important.

Mellan identified five basic personality types that describe one’s basic default tendencies when it comes to financial issues. If you would like to take the quiz to determine your Money Personality, click here.

Don’t worry, this is one quiz you can’t fail! That’s because there is no “right” personality:

  • Each person has their own unique blend of the five personalities. When there are one or two dominant personalities, this is an indication that some balance (Money Harmony) would be helpful.
  • In fact, each personality has advantages and disadvantages, so the secret is learning how to optimize your personality.  By practicing the non-habitual in certain situations, you can react with wisdom rather than habit, and this yields much more effective financial decisions.

In case you’re wondering what you can accomplish by identifying your Money Personality and learning how to optimize it, rest assured, it will be worth your time.  You will gain: 

  • Increased confidence around your financial decisions
  • Greater wisdom to apply certain default behaviors in the situations that are most appropriate
  • Tools to help combat those default behaviors that are not productive
  • The ability to finally change your financial behaviors and attitudes … for good!

Looking for resources? In addition to taking our Money Personality Quiz, ladies, you are invited to join our discussion in our Facebook Group “End Money Stress – for Women” where we talk about our Money Personalities and other ways to increase our financial wellness.


About The Author

Candice McGarvey, CFP®
Candice McGarvey is the Chief Story Changer for Her Dollars Financial Coaching and a Certified Financial Planner™