Every person has a distinct way of thinking about and dealing with money, your Money Personality. Unfortunately money causes tension in almost every marriage, especially over time. Probably because a day doesn’t go by without a decision to be made about money – home-brewed coffee or a latte on-the-go, lunch out or brown bag, new shoes or money for college. Your Money Personality impacts almost every decision you make. In a relationship, differing Money Personalities can be the difference between being on the same page about money matters and having it be a constant source of conflict. There are 5 Money Personalities™: Saver, Spender, Risk Taker, Security Seeker, and Flyer, and each person has a Primary and Secondary Money Personality.
Take our Money Personality Assessment, and then hand the mouse to your spouse to find out theirs. Most of us assume our spouse thinks about money the way we do, but often opposites attract. But don’t despair, the more you learn about your Money Personalities the sooner you’ll see eye-to-eye on your day-to-day spending.
Are you a Security Seeker? Is your spouse a Security Seeker?
Security Seekers like to know their money matters are settled and safe. They are all about low-risk investments, quality purchases, hefty insurance, and secure retirement funds. When it comes to money, the Security Seeker’s motto is, “Better safe, than sorry.” You’re a Security Seeker if you are:
- An investigator. A Security Seeker would never invest in a piece of property he’d never seen. In fact, a Security Seeker wouldn’t just need to see the property, he’d need to have the soil tested for toxicity, look into all the zoning restrictions within a three-mile area, and get a detailed prospectus from the developer and a resume from every other investor.
- Trustworthy. Security Seekers rarely put their futures on the line. That means they aren’t likely to gamble away their retirement or tap into the college fund to join a multi-level marketing company.
- Willing to sacrifice. A Security Seeker would rather do without today than do without tomorrow. They won’t spend money until they know they’ve put away a little for retirement, life insurance, and any other investments they’ve set up to make sure the future is taken care of.
- Prepared for anything. Security Seekers are never caught without a plan. The Security Seeker rarely ends up in a financial crisis (at least not a real crisis – that 5% stock market dip can feel like a crisis to the Security Seeker), which means the rest of the family can rest a little easier.
The Security Seeker does have some challenges. If you’re a Security Seeker, you need to be aware that you can:
- Be overly negative. Security Seekers get nervous about financial risk, so they often say “no” to every idea that comes along. The Security Seeker can become controlling, using his veto power to keep his partner from exploring her own financial dreams.
- Get stuck in a research rut. We call this tendency “analysis paralysis.” In other words, Security Seekers can get so caught up in making sure an opportunity is foolproof, they never act.
- Stifle creativity. This challenge doesn’t just impact other people in the Security Seeker’s life, it impacts the Security Seeker, too. Over time, that need for security can become so all-consuming that she stops looking at the possibilities of the future and sticks with the certainties – and that can be a very subtle form of control.
The Security Seeker can be a great spouse because his careful planning and steady approach to money can help avoid disaster. The challenge for the Security Seeker is to resist making decisions out of fear and to know how much security is enough.
Make It Happen!
Scott and Bethany Palmer
The Money Couple
Money Huddle Tip: If one of you is a Spender, take some time to talk about the impact this Money Personality has on your relationship. What are the strengths the Spender brings? What are some of the challenges?
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