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Money Management Personalities

What type of "money management personality" do you have?

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Learn About Money Management Personalities & How You Can Improve Yours

Originally posted on 03/18/2013 by Thomas (TJ) Underwood

Over the past 20 plus years in the real estate and personal finance industry we have seen many consumers manage their credit and financial affairs.  Although our observations are not scientific we have noticed several personality types over the years that are worth mentioning.

Below we will list 5 of the more common personality types that our office has come across over the years.

1) Strong Money Manager

Some consumers seem to be natural savers and have a keen sense for wise money management.

They pay their credit card debt in a timely manner and rarely let the balance get to a high level. They normally have a consistent savings plan in place and have some real sense of their financial future. 

2) Struggling Money Manager

Other consumers seem to have difficulty saving, have high credit balances and struggle from paycheck to paycheck—and they lack the ability to save in a meaningful way.

They have little concern for their financial future as they mainly live for the present or near present. 

3) Decent Money Manager/Poor Credit User

Still others can save effectively, yet they run up high credit card balances—and have no real understanding of their financial future.

They may invest on a whim—and in many cases have no clue of what comprehensive financial planning is—and how it can help them attain their goals in the future in a more efficient manner.

4) Non-believing Money Manager

Others—think they can’t save, don’t want to save, don’t want to improve their finances and they seem to be willing to take whatever life seems to dish out at them—not looking for—or expecting a better future.

When "adversity" occurs in their life they respond in an inappropriate manner.  They often blame others or forces they feel are outside of their control for their current position in life!

5) Highly Informed Money Manager

Still others have a sharp mind for their finances—can save at a high level, carry no credit card debt and seem to have their financial life in order. 

Observations of Note:

With all of the above personality types we have found that when they are all pressed to explain their credit and financial approach in detail they all have varying answers—but none seem to hit the mark as far as having a true comprehensive understanding of what they need to do in their credit and financial life.

On many occasions even the high net worth and highly informed money manager had an inadequate emergency fund—due in large part to not properly understanding the "purpose" of an emergency fund! 

In addition, many high net worth clients did not have an umbrella insurance policy that would have more appropriately protected them and their family—from future financial risks. 

If you have a money management personality type of any of those mentioned above—or a totally unique one—it is important that you realize the type of personality that you have!

We have worked with all of the personality types listed above and every type was able to transform their credit and financial situation in an effective manner.

The key was that they received advice and information in a manner that they could understand and made good financial sense to them.

They then changed their way of looking at their situation (had a different mindset) and started believing that real credit and/or financial success could happen for themselves—and their family.

Some who have personality type #3 listed above lack financial understanding in a meaningful way!

When they hear their favorite radio announcer, professional athlete or entertainer pitch a financial product—they jump on board in many cases.

However, in many of those cases they don’t have other areas of their credit and finances addressed appropriately.

They then invest in a stock or other commodity with no real understanding of how it affects the other areas of their financial life. 

Before you invest in a stock, mutual fund, gold and other investments—you must make sure that you have addressed your credit, insurance, taxes, emergency fund, education planning, estate planning/wills and retirement planning—in an effective and appropriate manner.

Don’t do like many who invest in a haphazard manner!  You must address all areas of your finances in a comprehensive manner—and then you will be in position to invest properly!

Do not do like many and put the cart before the horse—by not understanding the right way to invest!

If you choose to invest without addressing all areas of your finances you may be successful if your investment grows at the right rate.

However, realize that it is a dangerous strategy—even though we have seen it done successfully by many consumers.

If you decide to invest after you hear a convincing sales promotion that really impresses your heart and mind and you truly feel that investment plan is for you—you must stop—pause—and run through your mind—have I really addressed all areas of my finances?

Furthermore, you must ask yourself—am I ready for the responsibility that lies ahead—based on the decision that I make at this time?

We feel that addressing all areas of your finances in a comprehensive manner and then investing—is a wiser strategy—if you want to achieve financial success at a high level on a consistent basis.

Regardless of your personality type—you can put a plan in place that can lead to a prosperous future for you and your family!

With the right approach and the right systems in place you can improve your and your family’s credit and finances to a high level.

You must "always" remember that many who struggle financially do so because of a poor—or non-existent money management system!

You have the personality to transform your future into a more prosperous and productive one—if you have the desire to make it happen!

Be sure to choose success at a high level and not mediocrity—in your credit and financial life—as by doing so your money management personality and your future can take a turn for the better!

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About This Article:


The above article was written by Thomas (TJ) UnderwoodThomas (TJ) Underwood is a former fee-only financial planner, a former top producing loan processor and is currently a licensed real estate broker in the state of Georgia. 

He is the writer behind The Real Estate & Finance 360 Degrees Series of Books that include The Wealth Increaser, Home Buyer 411 The Smart Guide to Buying Your Home, Home Seller 411 The Smart Guide to Selling Your Home, and  Managing & Improving Your Credit & Finances for this MILLENNIUM.

In addition he is also the writer who created The 3 Step Structured Approach to Managing Your Finances, and CREDIT & FINANCE IMPROVEMENT MADE EASY—NEW GUIDE that you can download right now "(at MIMIMAL cost $3.95)" to learn more about his writing style and how you can achieve "more" success in the current economy.

He is the creator of where he regularly blogs about helping consumers improve their credit, finance and real estate pursuits in an intelligent, consistent and proactive manner. 

He’s always looking for ways to make intelligent finance improvement happen for those who “sincerely desire” success in their future. He was the first financial planner to coin the phrase "financially alert mind"  and he consistently writes in a style that is designed to provide consumers the ability to take control of their lives and achieve great results.

You can contact him from a number of sources but the most direct way is to contact him through the contact us block that can be found at the bottom of this page.  You can also get highly relevant tips on "living your life more abundantly" and link to and possibly earn revenue by logging on to

He is also an IRS registered tax planning professional with over 30 years of tax experience and can be reached at:



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