Redstone Federal Credit Union

Summer 2019 Newsletter

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14 | r e d f c u.o r g WHAT'S YOUR MONEY PERSONALITY TYPE? Money Repair You probably know your unique traits shape everything from your career to your friendships. But these traits also have a big influence on how you approach your finances. According to an article on grow.acorns.com, there are four main money personality types: 1) Connector Like the name suggests, connectors love to connect with people. But sometimes, the desire to partake in a social outing may override their budget. Affordable, at-home gatherings may help connectors satisfy their social cravings without sacrificing their budget. 2) Adapter Adapters like to make impulsive decisions on the fly and aren't known for being disciplined budget followers. ey may benefit from set-it-and-forget-it tools like direct deposit and automatic bill payments. 3) Loyalist Loyalists are hardcore money managers, but they may have a hard time splurging on occasional getaways or gifts (which can put a strain on relationships). Dedicating a small percentage of the budget for "fun" spending can help loyalists enjoy life while still feeling like they have a plan. 4) Leader Confidence is the name of the game for leaders. ese folks believe strongly in their ability to understand their finances and earn plenty of income. Goal-setting and progress check-ins are important for leaders. Interested in taking a quiz to discover your money personality type? Just visit grow.acorns.com/quiz-whats-your-money-type.

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