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Type & Money
A Penny for Your Thoughts By Ray Linder
are you not doing your money in of a new car or bed-room set?
use of money oer1enrs are plated ones window
a to solve. The problem on the uses gins when we respond to utiles
The Car of Your Dreams Imagine you're in a new car
room and spot the car of your \Nbat is the first that comes to mind? Or you're at ture store and you see
ing us to use our money in ways are emotionally
This ;:,a.u'" "''"' LRJll
inspired by preference. For example, when NFs decide to go out to dinner, they tend to seek out emotional satisfaction that comes from the aesthetics, ambience, and atmosphere of
restaurants. Cost is not an impor-tant consideration. can be a real
if an NF wants to an ISTJ or who
an as
16 Distinct Approaches
You could say that your dominant pn:ter·en«:e contains the most utiles, so it is likely to be the first one that comes to mind when thinking about money.
For example, when Roy (ENTP) and Kathy (ISFJ) went car shopping to
Continued on page 26
The Best A special Compendium of articles providing nearly two decades of expertise on psychological type.
22
of the
Bulletin of
Psychological Type CHAPTER I- HISTORY CHAPTER 2- TYPE THEORY: GENERAL ISSUES CHAPTER 3-SPECIFIC THEORY ISSUES:
DEVELOPMENT & CULTURE CHAPTER 4 -INSIGHTS ON TYPE DYNAMICS CHAPTER 5 -INTEREST AREA APPLICATIONS CHAPTER 6- ETHICAL CONCERNS
& RESEARCH INSIGHTS
WINTER 2000
Volume I -1979-1996
Visit the APT web site for complete-
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BULLETIN OF PSYCHOLOGICAL TYPE 23:1
Type & Money
A Penny for Your Thoughts Continued from page 22
gether, they brought different points of view to bear on the decision:
• Roy viewed it from a big-picture perspective focused on their overall financial condition, how the car would fit in terms of their lifestyle for the next few years, and various alternatives-new or used, lease or buy, competing brands and competing dealership .
• All these factors overwhelmed Kathy, whose point of view was (to her) much simpler. Her focus was on safety, practicality for family trips, viability in winter, and the capability to carry a load of children. Regardless of Roy's vision of the future, a new car for Kathy was an immediate concern; to her, there were only two possible outcomes-"Buy the car I want or else!"
Dominant Preference As a financial counselor who has
studied financial behaviors, I believe the most important type-related determinant of financial actions is a person's dominant preference. In terms of your own approach to money, more of the differences between you and other people can be explained by your dominant preference than any other aspect of type.
Although the overall financial behavior of each type is quite different, those who share dominant processes have much in common.
Dominant Sensors Dominant sensors see money as a
source of funds to achieve tangible, practical, near-term results. They are likely to:
• Have a heightened awareness and clear understanding of present physical needs, especially regarding food, clothing, shelter, and supplies.
• Attend to facts and figures such as price, quantity, and availability.
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• Be confident when making fmanciaJ decisions that rely on first-hand expenence.
Dominant lntuitives Dominant intuitives see money as a
resource that provides for future possibilities and to meet tomorrow's goals. They are likely to:
• Orient their finances around being able to satisfy whatever possibilities may inspire them in the future.
• Excel at being mindful about tangential aspects of a financial decision and accounting for the long-term implications of today's financial actions.
• Employ complex strategies to accomplish their financial goals-they surely invented "creative financing:'
Money buys the most happiness when you spend in a way that satisfies your preferred decision -making process.
Dominant Thinkers Usually, money matters most to
dominant thinkers, who see money as a pragmatic tool to achieve power, control and measurable success. They are likely to:
• Be mindful about "what the data says" and have objective standards for what makes "the right" financial decision, e.g., staying within budget or minimizing taxes.
• Excel at analyzing facts and figures.
• Be critical evaluators of their own and others' financial achievements.
Dominant Feelers Money itself often doesn't matter
much to dominant feelers, who see money as a source of funds to support what is valued to themselves and oth-
WINTER 2000
Ray Linder (ENTP ), MBA, is CEO of Family Financial Concepts, Inc. , in Sterling, VA, and author of three books, including What Willi Do With My Money? How Your Personality Affects Your Financial Behavior, to be published by Northfield in June. (703-450-4030; ray@goodstewardship. com)
ers. They are likely to:
• Be supportive of using money in ways that promote harmony or improve other's lives, especially immediate family.
• Excel at evaluating financial problems by using their emotions as a barometer for the interpersonal consequences of any financial situation.
• Make financial decisions on a caseby-case basis rather than by universally applicable financial rules or guidelines.
Because money pervades almost every aspect of life, the expression of your type preferences through money has implications for your entire lifestyle. While we have utiles in every function, we are most sensitive to those that relate to our dominant function.
So does money buy happiness? Even if a financial decision is the best
one under the circumstances, you will probably find that money buys the most happiness when you spend in a way that satisfies your preferred decision-making process.
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BuLLETIN OF PsYCHOLOGICAL TYPE 23:1
