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The Most Common Financial Mistakes Each Money Personality Has to Avoid
Updated: December 26, 2020 |
Taylor Kovar, CFP

Common Financial Mistakes Your Money Personality May be Steering You Toward

Everyone has his or her own unique way of thinking about and dealing with money. These ideas are what makeup one’s Money Personality. You can learn yours through a 15-minute quiz and identify your primary and secondary personalities, which are both at play in how you approach your finances. Click HERE to discover yours for FREE today! But even without taking the quiz, it’s helpful to know how our attitude toward money can help. More importantly, how it hinders our long-term financial goals. Here’s how to avoid the most common money mistakes to avoid based on your Money Personalities.


Savers get a rush from a deal and take pride in spending less than someone else for what they want. That doesn’t necessarily mean that they’re cheapskates. They just like knowing that they didn’t pay full price for the same trendy handbag. Your friend who only shops the sales or your aunt who clips coupons like it’s her job? They’re probably Savers.

That impulse to save means that savers usually don’t spend impulsively. Although a good deal might incentivize them and since they’re conscientious about their spending they’re usually trustworthy with their cash. That doesn’t mean that Savers are always making great holistic decisions though. Their love of a deal can still lead to unnecessary spending. I mean, who hasn’t regretted an impulse “cheap” sale purchase? They may even seek overly safe investments rather than focusing on growth when they should.


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