Today’s guest post comes from Melissa Blevins. Melissa offers money, blogging and business tips to help women live the life they always wanted.
Personality quizzes have become increasingly popular over the past few years. Remember when you couldn’t load the Facebook app without seeing several friends’ quizzes? There were color personality tests, love language quizzes, and all sorts of funny face swap shares. These quizzes were fun to fill out, but the answers were so rigged.
It seemed like it didn’t matter what answers everyone put in. The results were always the same for everyone. When it comes to personal finances, you’re doing yourself no favors if you can’t nail down your authentic personality type based on past and present behaviors with regards to spending and saving.
A little back story
I grew up in a small, rural area in the Texas and Oklahoma panhandles (just North of Amarillo, Texas). I was the second child out of four, and as long as I can remember, we went without. We wore second-hand clothes, we ate our cereal with powdered milk when times were especially tough. And we were constantly struggling and living paycheck to paycheck. In fact, I remember my mom driving, with cash in hand, on payday to the grocery store to mark her name off the list of bounced checks.
We couldn’t even buy groceries without checks bouncing left and right (for you young’ns, a “bounced check” is when you write a check but have insufficient funds in the bank to cover it, causing overdraft fees from your bank and the retailers. We didn’t have debit cards back then so many people “floated” checks). So she’d go to the grocery store, and what originally was a $25 check for meat and potatoes ended up costing around $60-70. OUCH!
That’s just one example of how we struggled to make ends meet. Life wasn’t easy in “No Man’s Land”, but we pulled through. As a result of my upbringing, I vowed to never feel that pain again. I never wanted my own kids to feel the strain of my personal finance f-ups.
In 2004, I was working as a pharmacy technician when the branch manager of my local bank across the street came in and told me she wanted to interview me for a teller position. I was excited to learn more, and in 2 weeks, I began my career in the financial services industry.
Truth be told, I didn’t know what the hell I was doing. I had a passion for helping people, and I was eager to learn, so I quickly moved up in the banking industry. After about eight years as a banker and manager, I became licensed to sell real estate. I’ve been licensed for 6 years, and I love real estate, but I really found my passion in helping women save money, pay off debt, and build a life they love!
I’ve experienced many of the struggles my readers have, so I believe I can relate to them and empathize with what they’re going through (instead of just talking at them).
So, now that you know a bit about me, let me explain why I think your personality could be sabotaging your financial goals.
Scarcity vs abundance mindset: self-awareness
People with a scarcity (or lack) mindset tend to always think about what they don’t have. Their glass is half-empty. I can say this with truth and conviction because I suffered from this lack mentality for most of my life. You see, when you’ve gone without for so long, you tend to “wild out” when you actually have a little money. Let me give you an example related to food.
You try to keep healthy food only in the house. So, when your husband brings home a package of Oreos (family size), you grab an extra tall glass of milk and eat and eat and eat and eat. Before you know it, the Oreos are all gone because you rationalized (while you were stuffing your face) that you have to get these out of the house or else you’ll keep eating them.
So, you eat the entire package in 24-48 hours while binge-watching Stranger Things.
When you feel like you’re constantly limiting yourself (through budget or scarcity) the things you enjoy, such as entertainment, fancy cars, watches, or (pick your poison), you’re likely to bust the budget when payday comes. You might have plans to pay off debt so you can start saving a bigger portion of your income towards retirement, but every time you “gift yourself”, you are holding yourself back from achieving your financial goals.
Abundance Mindset is the exact opposite. People with this point of view see things in a much more positive light. They see opportunity everywhere, and they intend to make the most out of every situation.
Think: “Money is constantly flowing to me, and there’s plenty of money to go around.” Positive affirmations can help create a more abundant mindset.
When you repeatedly tell yourself positive affirmations geared towards growth and development, your life and your behavior start to change!
For a person with an abundance mindset, a bag of Oreos is just another bag of Oreos. There’s plenty to go around, and they know that if they need more Oreos, they’ll just go to the store and (you guessed it) buy more Oreos! They truly believe that all they ever need is being provided to them consistently and easily.
When it comes to finances, people with the abundance mentality work hard and enjoy the fruits of their labor. They save, but they probably don’t budget to the penny, and they’re totally okay with that. They want to enjoy life as the money is coming in, and they’re grateful for every single opportunity afforded to them.
What happens when these two mindsets mix?
When someone with an abundance mentality is married to someone with a lack mentality, there can be a major tug of war, whether they’re creating a budget, planning a vacation, or just choosing where to go out to eat (the struggle of choosing a restaurant is REAL), sometimes it’s best to get an unbiased third party to help, such as a Financial Advisor. Whatever you do, don’t allow your personality types to sabotage your finances and/or your marriage or relationship.
Life is short! Eat the Oreos!