What Your Myers-Briggs Personality Type Means for Your Wallet

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I very seldom post guest articles or articles from other sites, but I quite liked this one and thought I would share it.

This is taken with permission from MintLife and you can find the original post here.

Personality tests are used to give us insights on how we perceive the world, how we interact with others, and how we make decisions. Whether you believe in them or not, personality tests are a big hit with relationship experts, team-builders, and even employers. Knowing more about yourself and those around you can help you build more meaningful connections. You can also build a better relationship with your finances by understanding your goals and motivations. Read on to learn what your money personality type means for your wallet.

The Myers-Briggs personality types are the most commonly used in personal and professional fields. These four-letter personality types represent different spectrums of social and psychological factors like introversion/extroversion and thinking/feeling.

Since personality types dive into things like decision making, it’s no surprise that they can also be applied to finances. Your “money personality type” may say a lot about your spending, saving, and investing habits. Are you the type to set limits on your shopping spree? Do you have a friend who insists on always covering the bill? These spending tendencies not only reflect our financial goals, but also who we are as a person.

Interested to see how your personality type handles money? This infographic covers all 16 Myers-Briggs personality types to reveal their likely money moves. Whether your type needs help budgeting or could use some investing advice, read on to discover more about your money habits and how to make the right moves to improve your finances.

The Myers-Briggs personality types and related money tips

Dedicated Stewards

ISTJ – The Analyst

  • Take the occasional risk outside your comfort zone
  • Listen to the opinions of a trusted friend or advisor
  • Don’t let small downturns discourage you, you’re in it for the long-haul

ISFJ – The Protector

  • Set smaller, realistic financial goals to lessen the pressure
  • Offer your knowledge of finances to teach a friend
  • Embrace change by testing out the waters first, then diving in

ESTJ – The Organizer

  • Test out different strategies to see what works for you
  • Plan for a future that fits your needs regardless of social status
  • Set both realistic and aspirational goals to work toward

ESFJ – The Supporter

  • Pursue leadership opportunities (and a higher salary!)
  • Plan for the unexpected by contributing to an emergency fund
  • Don’t over commit by spreading yourself too thin

 

Wealth Builders

INFJ – The Visionary

  • List out pros and cons of big financial decisions
  • Seek advice from a trusted mentor or advisor
  • Avoid budget burnout by celebrating small victories

INFP – The Helper

  • Link your financial goals to your personal values
  • Don’t be afraid to take care of yourself first, then help others
  • Take financial setbacks in stride rather than dwelling on them

ENFJ – The Leader

  • Be critical of opportunities that seem too good to be true
  • Seek feedback from trusted friends or advisors
  • Avoid inaction by planning out next steps, no matter how small

ENFP – The Dreamer

  • Separate yours emotions from financial decisions
  • Don’t spend too much time analysing and take action
  • Set days of the month to evaluate your finances

 

Wise Analysts

INTJ – The Strategist

  • Set clear financial goals and check in on your progress often
  • Strengthen your strategies by having another voice weigh in from time to time
  • Channel your ambition into long-term goals like retirement

INTP – The Thinker

  • Challenge yourself to take an active role in your finances
  • Stay on track by automating bill payments and savings
  • Take on goals and tasks perceived as “difficult”

ENTJ – The Planner

  • Set aside money for indulgences and relax a little
  • Don’t let finances and stubbornness trouble your relationships
  • Be patient when it comes to seeing results

ENTP – The Inventor

  • Built for challenges, start investing in the market
  • Create stability by sticking to a strict budget and adjusting as needed
  • Set micro gals to stay on track

 

Bold Explorers

ISTP – The Experimenter

  • Avoid impulse purchases by setting strict savings guidelines
  • Analyse your spending to find areas you can improve
  • Spark inspiration and curiosity by reading finance books and blogs

ISFP – The Artist

  • Commit to long-term plans like saving for retirement
  • Set aside a portion of your paycheck to build up your savings
  • Invest in your passions to make budgeting more rewarding

ESTP – The Risk Taker

  • Look before you leap! Take time to analyse before making big decisions
  • Monitor and cut back on spending while out with friends
  • Don’t be afraid to pass on opportunities that aren’t a good fit

ESFP – The Socialite

  • Reduce indulgent purchases by learning to say “no”
  • Give meaning to your purchases to cut frivolous spending
  • Use an app like Mint to set limits on entertaining expenses

 

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