There are eight common money behavior patterns or ‘archetypes’ battling it out in every investor. Being aware of your unconscious attitudes and behaviors toward money can give you an edge in managing your finances.
Have you ever had a friend who blew big sums of money on fancy cars or gadgets? Or a buddy who poured resources into the investment scam of the month without regard for risk and consequences?
Or maybe you’ve known some family members who routinely ignore or procrastinate on financial planning decisions until the last possible minute. Maybe you’ve seen a colleague gamble away a large share of her life savings.
Whenever you see a friend or family member – or even yourself – with a financial issue, it’s a safe bet that a money archetype is at play in it.
Former financial advisor Deborah Price is a money therapist and founder of the Money Coaching Institute in Petaluma, Calif. From her own experience in the financial services industry and with a background in Jungian psychology, she has identified eight common behavior patterns relating to money, some of which lead to success, and others to frustration.
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