Kids & Money

What is your money personality?

Understanding what your money personality is a positive first step in your financial journey. Are you a Sharer, someone who is always thinking of others and giving your money away?  Perhaps you're a Spender who loves to shop and spends very little time wondering how you will pay for something and all your time thinking about the next purchase?

Now you might be thinking your kids are too young to have even developed a money personality and why does it even matter...but here's the thing - we all have these thoughts and beliefs racing around in our heads and for many of us, they have been passed down from our parents.  So it's fair to say, your money personality & behaviours with money are likely to already be instilled in your kids. Add to the mix their own internal beliefs formed by their childhood experiences, the community they grow up in and the money habits (positive and negative) of those around them - it can be a real mixed bag of influences.  Even so, knowing what drives our financial decision making can help us make smarter money choices, whether that be saving more for retirement earlier or spending less on impulse purchases.

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If you're reading this now and worried that your 'Spender' traits have rubbed off onto your kids - they are always impulse buying with whatever money they do have - never fear...our money personality can change over time.  Dependent on the circumstance, experiences or growing wiser as you get older, you can make changes and the first step is understanding your personality type now.

In the very first lesson of the Squeeze the Day course, we introduce kids to four types of money personalities and get them to pick which best sounds like them today. We want them to understand that their money personality type can help shape their approach to earning, saving and spending. For some, it could be the first time they have had to think about this and it could be the kick-starter they need, to want to make some changes with their money behaviour and habits so they become better with money earlier rather than later.