Your Money Your Money PersonalityPersonality

Ray LinderRay LinderAPTi XX APTi XX

Biennial Conference Biennial Conference 20132013

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$$ HistoryHistory

““I wonder . . . .I wonder . . . .”” Personal anecdotesPersonal anecdotes SurveysSurveys Breakout groupsBreakout groups

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$$ Key factsKey facts Money provides type-related Money provides type-related

psychological satisfaction psychological satisfaction Type influences financial Type influences financial

behaviorsbehaviors Each of us has an observable Each of us has an observable

““money personalitymoney personality””

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$$ MotivationMotivation Desire for financial gain Desire for financial gain (NT)(NT) Avoiding financial loss Avoiding financial loss (I)(I) Comfort and convenience Comfort and convenience (+SP/-(+SP/-

NT)NT) Security and protection Security and protection (+ISJ/-SP)(+ISJ/-SP) Pride of ownership Pride of ownership (+NT/-NF)(+NT/-NF) Emotional satisfaction Emotional satisfaction (+NF/-ETJ)(+NF/-ETJ)

Define Define Productive Productive

Use of MoneyUse of Money

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$$SJSJ

Save for futureSave for futureMeets needsMeets needsSense of stabilitySense of stability

SPSPHave funHave funAdd to comfortAdd to comfortA rush, a memoryA rush, a memory

NTNTBalance ST vs. Balance ST vs. LTLTMax for minMax for minCreate changeCreate change

NFNFReflects MeReflects MePersonal growthPersonal growthEmotionally Emotionally fulfillingfulfilling

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$$ Family habits: spending, Family habits: spending,

giving, borrowing, savinggiving, borrowing, saving Family traditionsFamily traditions Unique circumstancesUnique circumstances PeersPeers CultureCulture

Learned BehaviorsLearned Behaviors

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$$ Extraverted SensorsExtraverted SensorsESTP, ESFP [istp, isfp]ESTP, ESFP [istp, isfp]

Hallmark – Immediacy, impactHallmark – Immediacy, impact Priority – DonPriority – Don’’t miss the momentt miss the moment Risk - adventure, uncertainty is funRisk - adventure, uncertainty is fun Common practices - Buy now; Common practices - Buy now;

minimal (if any) planning; little minimal (if any) planning; little store or brand loyaltystore or brand loyalty

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$$ Introverted SensorsIntroverted SensorsISTJ, ISFJ [estj, esfj]ISTJ, ISFJ [estj, esfj]

Keys - Cautious, Careful, Keys - Cautious, Careful, Concerned, ConservativeConcerned, Conservative

Priority – Be responsible, avoid Priority – Be responsible, avoid instabilityinstability

Risk – Risk – ““No!No!”” Must protect against Must protect against negative outcomes negative outcomes

Common practices - Store and Common practices - Store and brand loyalty; plan and save or brand loyalty; plan and save or go withoutgo without

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$$ Extraverted IntuitivesExtraverted IntuitivesENTP, ENFP [intp, infp]ENTP, ENFP [intp, infp]

Hallmark –OptimismHallmark –Optimism Priority – Have money to respond to Priority – Have money to respond to

options options Risk – Comfortable with if: Risk – Comfortable with if:

calculatedcalculated (NTP); (NTP); with someonewith someone (NFP)(NFP)

Common practices – “wait and see”; Common practices – “wait and see”; if paralyzed by possibilities, may if paralyzed by possibilities, may buy all the choices buy all the choices

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$$ Introverted IntuitivesIntroverted IntuitivesINTJ, INFJ [entj, enfj]INTJ, INFJ [entj, enfj]

Hallmark – Aesthetics, foresight Hallmark – Aesthetics, foresight Priority – Get Priority – Get ““the best money the best money

can buycan buy”” Risk – worth taking once end is Risk – worth taking once end is

clearly in mindclearly in mind Common practices - Buy the Common practices - Buy the

vision or do withoutvision or do without

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$$ Extraverted ThinkersExtraverted ThinkersESTJ, ENTJ [istj, intj]ESTJ, ENTJ [istj, intj]

Hallmark - ManagementHallmark - Management Priority – Set up and follow a Priority – Set up and follow a

processprocess Risk – Logical, manageable risksRisk – Logical, manageable risks Common practices - Keep orderly Common practices - Keep orderly

records; track all cash flowsrecords; track all cash flows

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$$ Introverted ThinkersIntroverted ThinkersINTP, ISTP [entp, estp]INTP, ISTP [entp, estp]

Hallmark - Efficiency, effectivenessHallmark - Efficiency, effectiveness Priority – Spend money only when Priority – Spend money only when

value is there, regardless of pricevalue is there, regardless of price Risk – analyzed, understood, Risk – analyzed, understood,

weighed risksweighed risks Common practices: Comparison Common practices: Comparison

shopping to analyze price vs. utility; shopping to analyze price vs. utility; only pay only pay ““what it’s worth to mewhat it’s worth to me””

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$$ Extraverted FeelersExtraverted FeelersESFJ, ENFJ [isfj, infj]ESFJ, ENFJ [isfj, infj]

Hallmark - RelationshipsHallmark - Relationships Priority – Use money for shared Priority – Use money for shared

experiencesexperiences Risk – Avoid relational pressures, Risk – Avoid relational pressures,

tensiontension Common practices: Use money Common practices: Use money

to take care of people; maintain to take care of people; maintain personal connectionspersonal connections

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$$ Introverted FeelersIntroverted FeelersISFP, INFP [esfp, enfp]ISFP, INFP [esfp, enfp]

Hallmark - Deeply-held values, Hallmark - Deeply-held values, financial apathyfinancial apathy

Priority – Priority – Values-driven approach Values-driven approach to financesto finances

Risk – ????Risk – ???? Common practices - buy things Common practices - buy things

they like; donthey like; don’’t bother t bother ““keeping keeping up with Jonesesup with Joneses””