Questions to Help Find Your Money Archetype
June 6, 2022. By Ashley Agnew:
There are many resources discussing how mental health and financial health collide. While we love to see an awareness to the emotional side of money gaining traction, like so many other self-care practices it can be easy to become overwhelmed with the enormity of information available. Sometimes this information overload can be paralyzing, making it difficult to move forward at all. Facing your finances head on takes courage and gaining comfort with the ‘why’ and ‘how’ of your money style takes time. If you are starting out on a personal journey to better connect with money, be patient. If you are interested in a more guided journey to help sift through the noise, ask about our financial therapy and planning services.
Among the many pieces of literature and schools of thought are different labels that we can place on our financial management styles. I recently enjoyed an article on just that outlining 6 styles labelled as money archetypes formulated by behavioral patterns. Click Here to read the full article by Liz McLardy on wellbeing.com. I loved how the author shared “humans are beautifully complex creatures with unique money histories, experiences, emotions, and behaviour patterns”. This is so true yet often underappreciated. While taking a deep dive into archetypes discussed in the article can be helpful to gain insight into your own patterns, the questions posed for each style have great value even when considered separately, no matter where you are on your financial journey. These are certainly worth a share, and can be used as lightly or heavily in your personal reflection as you desire:
- Why am I giving?
- Why am I saving?
- What would my dream financial life look like?
- Will buying this genuinely make me happier?
- What am I risking and why?
Having these key questions in your toolkit for personal finance can be a tremendous benefit, especially during times of financial indecision, worry, or meditation; sometimes the simple pause that asking the question provides is enough to slow our train of thought to a more rational pace. These questions can also be a great start to thinking about your relationship with money in a healthy way if you are wondering how to do so. If you are struggling with finding the answers to these, your financial therapist, advisor, or counselor may be able to help.