BASKING RIDGE, N.J. (Profitable.com) Verizon Wireless works very hard to…
El Segundo, CA (Profitable.com) The Myers-Briggs test has been a highly-regarded tool in the psychological community for better understanding people’s personalities and preferences. In order to help readers gain insight into their persona when it comes to saving money and money management, personal finance site GoBankingRates.com developed its own financial personality test, inspired by the principles behind the Myers-Briggs.
“We as human beings love to analyze ourselves and figure out why it is we do the things we do,” explains Casey Bond, managing editor for GoBankingRates.com. “I recently took an abridged version of the Myers-Briggs test online and was intrigued by the results, which then led me to create our own financial personality assessment and help others identify their money management styles.”
In order to develop the financial personality test, Bond reached out to experts in finance and behavioral psychology to identify the four prevailing personality “dichotomies,” the driving concept behind the Myers-Briggs test, and the characteristics associated with each.
Financial personality types are divided into four dichotomies, each represented by a letter:
- Debtor (D) / Saver (S)
- Aggressive (A) / Conservative (C)
- Planning (P) / Impulsive (I)
- Giving (G) / Hoarder (H)
For instance, Xavier Epps, Financial Adviser and Owner of XNE Financial Advising, LLC, told GoBankingRates.com that Planning financial personality types seek out the opportunity to save money and take strategic steps to do so within their household budget. “Many Planners are great at looking at the future and seeing what needs to be done today to get where they want to be at financially tomorrow,” says Epps.
On the other side of that dichotomy, Epps states that Impulsive types often engage deep thinking about how they would like their financial lifestyle to be, but usually lack “the strategic thinking needed to have a financial lifestyle that’s well-balanced.”
GoBankingRates.com readers are encouraged to take test and discover their own financial personality “type.”
“This financial personality test is, of course, a more casual and entertaining version of the Myers-Briggs. My hope is that by creating a similar, finance-focused personality assessment, we can begin a conversation about the importance of understanding how personal characteristics and preferences affect our day-to-day finances in a major way,” says Bond.
Take the financial personality assessment here.
For questions about this test or to speak with Casey Bond, please use the contact information below.
GoBankingRates.com is a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. GoBankingRates.com collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information.