We started talking about “money” personalities last week. Curtis Smith, CFP, says becoming familiar with your clients’ money personality can help you better understand them, their motives and the best way to approach working with them. Read on for the next and last four personality types, as outlined by Deborah L. Price, CEO of the Money Coaching Institute.
The Fool: Price says the fool is a combination of the innocent and the warrior because they don’t know what they’re doing but act fearlessly. They are financially risky and they act on impulse.
The Creator/Artist: These people often have a love-hate relationship with money. They are always struggling to keep their finances in order but also feel caring about money is bad.
The Tyrant: This type hoards money and manipulates others with it. They may have everything they need but are never comfortable with their lives because they fear losing control.