In last month’s issue, we looked at how your Belief Systems Will Determine Whether You Become Rich or Remain Poor. This month, we will be looking at the different types of Money Personalities and help you identify which Money Personality you belong to, so that you would know what your strengths and weaknesses are when it comes to dealing with money.
The first Money Personality I would like to introduce to all of you is “Philly the Peacock”.
Philly the Peacock is also known as the “Show-Off” personality. People with this type of Money Personality like letting others know just how “Rich” they are by buying lots of stuff.
Most of the time, they buy stuff not because they NEED it. They buy stuff just because other people HAVE it. They spend recklessly because, like Philly the peacock, people with the “Show-Off” personality have pride issues and are always out to prove that they can afford anything and everything their friends, family, neighbours, colleagues or people around them have.
If you belong to the “Philly the Peacock” Money Personality type, then chances are, you would most probably be broke as you would have spent most of your money buying stuff you don’t NEED just so that you can show off in front of other people.
To prevent yourself from buying things that you don’t need, use the 48 hour rule; No matter how badly you THINK you NEED to buy something, DON’T Buy it! Instead, wait for 48 hours to pass by. This is to prevent impulsive buying. If after 48 hours has lapsed and you STILL want to buy it, then chances are, you’re not buying on impulse, and it’s something that you probably REALLY need.
Next month, we’ll be looking at the 2nd Money Personality, “Orrie the Ostrich”. Till then, stay tuned!
Other Related Articles:
- Teaching Kids Financial Survival Skills
- Play ‘crazy money’ games with kids
- Rich Money Habits - #1
- Start Saving to Get on to the Wealth Track
- Rich Money Habit #5: The Rich use Credit Cards wisely, the Poor abuse Credit Cards
Other Updates in Library
- Rich Money Habit #12: Orrie the Ostrich
- Rich Money Habit #10: Your Belief Systems Will Determine Whether You Become Rich, or Remain Poor
- Rich Money Habit #9: If You Want Different Results, You Would Have To Do Things Differently
- Rich Money Habit #8: The Rich work at building Wealth, the Poor merely try to survive
- Rich Money Habit #7: The Rich Spend Less than they Make, the Poor Spend MORE than they Make
Email to your friends
0 Responses to “Rich Money Habit #11: Philly the Peacock”