Does our Personality have any impact on how we spend our money?

Each month I send out an e-newletter and post a Q & A section. Many of the trainers email me questions and I do my best to find the answers.
Here's a great question.

Question:
"Do you have anything specifically on how personalities determine your spending habits?"

Answer:
Here are some "generalities." I hate being this general, but there isn't much in the way of hard cold research on this subject. Keep in mind teen spending is different than adult spending.

Playful Sanguine - IMPULSE spender, see it - buy it. On a whole they are not good at keeping track of checkbook balances, or debts owed. This doesn't mean they can't do it, they just don't like doing it. It is always a surprise to Playfuls when they find themselves over drawn at the bank or run out of cash. They have no idea how that happened, because they were trying to be so “careful this time!”They love to buy things for other people, sometimes the other people even like what they buy. =0) They are good with color, so home decorating and clothing are big expenditures for them - fun too. They will even help you spend your money! Many Playfuls do some kind of shopping everyday, be it groceries, clothing, household goods or gifts. It is not uncommon for Playfuls to find money stuffed away in the pockets of seasonal clothing. They should always check the pockets of any piece of clothing before

Powerful Choleric - CHEAP and proud of it! If you complement them on something (it doesn't matter what) they will tell you what they paid for it, because they NEVER pay retail. It's all about the bargain! They will almost always, tell you how to spend your money, because they know best! "Best" being how they did it. They can part with large amounts of cash without loosing sleep over it. They normally have a plan and follow it. They may be tempted to impulse shop, but usually change their mind before committing to the purchase if it doesn't line up with their plan. If they do run across an impulse "deal" that they can't pass up, they will justify it by informing everyone that it was a "need" not a "want." Typically, Powerfuls don't purchase art work, unless it's an investment. They do spend plenty of money and time on sports and sport related activities.

Peaceful Phlegmatic - COMFORT is where Peacefuls tend to spend their money, be it food (cooking or eating out), or furniture. They are not shoppers by nature - that would require expending energy and making decisions - both of these issues are not their strong point. Change is also something they don't care much for, so getting new things to replace the old is not a top priority for them. Chances are they have many "creature comforts" and gadgets. If it doesn't come with a remote control, they probably won't buy it. Many Peaceful are some what on the techie side, so computers and game systems are the purchase of choice, which goes well with their over stuffed lounge chair. =0) Price is not always a priority - if it's easier to pay full price, so be it. They also tend to be last minute shoppers, which means they haven't put a lot of "think" time into the purchase.

Proper Melancholic - QUALITY is the focus for almost all their decisions, which extends to money expenditures. Brand names are important, because they feel band name products are better quality. Also, peer pressure plays a huge part in what Propers purchase, they don't want to be out of step with the latest styles. They will pay full price for items, because "On Sale" might lend itself to the thought, "If it's on sale that must mean no one liked it, so why would I want it." Propers are not impulse spenders - they research and plan their expenditures. Even if they find something that catches their eye, they will wait and think about it before purchasing it. Because Propers are very private, they don't want everyone's opinions about that they plan to do, seeing they are good at doing research they might not trust the opinions of others. It is not uncommon for Propers to purchase things, even large ticket items like a car or furniture and not tell anyone about it for a long time or until you notice. ================================
If you have any questions or insights to these or other questions,
Please email them to info@personalityprinciples.com