Understanding Money Personalities and Setting Financial Goals

The first step to building wealth is figuring out your relationship with money. That’s why we’re speaking to Claer Barrett, the Consumer Editor of the Financial Times and author of the book What They Don’t Teach You About Money.

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Money personalities from Claer’s book - which ones describe you?

-Spendy Wendy: could be you if you know the three numbers on the back of your bank card off by heart as you do so much online shopping

-YOLO (you only live once): could be you if you have ever uttered the words ‘To the moon’ without irony

- Goblin: could be you if you get more of a kick from saving money than spending it

-Spreadsheet Slave: could be you if you have ever dreamed in Excel

-Jitterbug: could be you if you have a constant state of underlying anxiety about money

-Ostrich (stick your head in the sand): could be you if you say a silent prayer every time you tap your card to pay

Budgeting tools

-Spreadsheet, like this: https://docs.google.com/spreadsheets/d/16Fs9eccfAjEXFXhwG7gwyEOPMoap2UYIF-0yz1o3T2U/edit?gid=0#gid=0

-Budget planner, a free government tool

-You Need A Budget (YNAB), a paid for tool with all the bells and whistles: https://www.ynab.com/

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This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

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