“If I had more money all my debt and my problems would go away”.
These are familiar words to which I’m sure, many of us can relate.
Unfortunately however, having more money will often not solve our problems.
Just like Susan, who defies all odds to win the coveted Lotto ticket. She finds herself penniless just a few short years down the track.
Or Julie, the business owner who secures a major contract and deposits the largest sum of money she has ever made in her business. Months later, she’s struggling to pay her bills and is desperately trying to win another large contract.
Or Bridget, who inherits a large sum of money, but finds herself yet again in massive debt, having lost everything her newfound wealth had enabled her to buy.
For each of these people – having ‘more money’ didn’t help. While the extra cash was helpful in the short-term, in the long run they all found themselves in debt and/or struggling again despite the large sums of cash each had received.
Because the reason that had initially contributed to and influenced their individual struggles – hadn’t been addressed.
Susan, Julie and Bridget’s relationship with money played a significant role in how they managed (or in this case – mismanaged) their money.
I call it your Money Type.
Just like your personality type has characteristics that influence your behaviour – your Money Type has certain characteristics and behaviours that impact the way you relate to and manage your money.
There are Five Money Types:
The Money Type of Love
The Money Type of Security
The Money Type of Value
The Money Type of Recognition
The Money Type of Status
So, what’s your Money Type?
Perhaps you’re like Susan who won the coveted lottery ticket. With the Money Type of Love she had a need to be liked by other people. One of the ways this showed up for her was that she would buy people gifts even though they didn’t really need these items, hoping this would strengthen their relationship.
Maybe you can relate to Julie the business owner. Her Money Type of Status meant that she would buy the best and latest computer and office equipment even though her current equipment was fine. She also loved to shower her family with expensive gifts as well as take her clients and prospects out for lavish lunches – things she couldn’t really afford.
Or you may be more like Bridget who inherited her father’s estate – who’s Money Type was Value. Because she felt the need to feel valued, her soft-heartedness meant that her friends and colleagues would often turn to her for financial support. Finding it difficult to say no, she would continuously give of her time and money each time she was asked.
Just like each of these women, we can also exhibit unhelpful habits and behaviours when it comes to managing our money.
Your relationship with money and how you manage money may be what was modelled to you by your parents. Or, perhaps you may find yourself managing money in the exact opposite way.
It’s important to break the cycle of bad money habits to stop returning to that place of lack, debt and ongoing struggle.
Susan recognised her need for belonging and was finally able to accept herself for who she was. Julie’s need for validation no longer came from buying herself expensive items and was now able to find other ways of feeling important. And Bridget no longer felt the need to prove she was good enough and a good person. She recognised she was valuable just the way she was.
What about you? What deep emotional needs are you trying to fill that are currently stopping you from reaching your money goals?
Do you want to break through the unhelpful patterns of your Money Type and create empowering beliefs and actions specific to your needs that will drive you forward to achieve your money goals?
You can! Your rewarding, abundant life and business awaits you – right here –>> Are you ready? Find out more by clicking here
To your money breakthroughs!
This is a great article, Annemarie, that gets right to the root of our money troubles… great insights and value – thank you!
Thanks Susan; yes, once you identify what the emotional need is, the root of what caused that belief to develop, you can then begin to make breakthrough transformations. It’s amazing how a new leadership money statement can make such a significant difference.
Mindset controls everything, including our financial condition. This article was great. I even see a little of me in it!
Hi Karen, absolutely – mindset controls everything. In fact, one of my mentors told me once, ‘how you ‘do’ money, is typically how you do other things in your life”. When you look closely and compare various situations in your life of what is happening (or not happening) you can see similarities.
Everything starts with our thoughts….even our financial situation! Great insights and info!
Thanks Denny. My eyes were certainly opened when I recognised my Money Type. I could see not only HOW I was relating to money, but the core reason WHY this was happening. Once you know the ‘why’ – the real reason behind the what – you can make amazing changes and have far more empowering thoughts and ultimately behaviours.
I wonder what type I would be. My drive is to pay off our mortgage and be debt free. I am concerned since my husband has very serious health issues, I would not want to lose my home. Very interesting!
Hi Elvie, thanks for stopping by. Some of my clients (including myself) could see elements of the way we manage money in all five Money Types. However, once you look more closely at each of the money behaviours, the disempowering beliefs, the challenges being faced as well as the gifts (Yes, each Money Type has their unique gifts), then people tend to resonate more with one. For instance, I could see myself in Love, Value and Status, however when I was really honest with myself, the Money Type of Status was clearly more me than the others. And, some of the things that happened to me as a young child, watching my parents’ money habits etc, I can see how I developed the emotional need/Money Type of Status.
PS, Yes, the beauty for me is I know EXACTLY what Money Type my husband is. So, I can be very influential (wink wink) when it comes to our finances. I know what makes him feel safe and secure and therefore can work together in dealing with our finances rather than working against one another, due to having completely different ways we like to manage and deal with money! Very interesting for sure!! I learn new things everyday – how great is that!!
Hi Annemarie, Great information on how to recognize your money type! I have a question…. How long does it usually take to change your beliefs and your habits once you recognize how you have been sabataging your wealth?
Hi Carol, that a great question! The tools and techniques I use when working with clients, are founded on the principles of NLP (Neuro Linguistic Programming), which are powerful life-changing and instantaneous. The processes get to the core of the belief, which is deeply embedded in our subconscious mind – so when working with someone – that’s what I focus on. We can gently change those beliefs to more empowering ones. And, of course we then work on creating habits that continue to strengthen and empower this new belief.
When I first began studying NLP and learning about the impact of what we hear, do, say etc I completely changed the way I would speak with my children. As a parent, I recognized the huge influence that I have with my children in how they see themselves, their self belief their self worth etc. My youngest daughter (who is now 15) has such a maturity beyond her years – because she’s grown up with these principles (as well as of course Christian faith-based principles, which are very important in our family). It is really amazing to see.
Thanks for stopping by Carol – I hope I was able to answer your question! Best!
I discovered 2 years ago, there is a verse in the Bible that says, Money is the answer to everything. Yet some people are still trying to deny the value of understanding and learning to deal with it. This is absolutely valuable. Thanks Annemarie for valuable content again.
Wow Claudia – If you are able to locate that verse and let me know – I’d surely appreciate it! I always remind myself of how God blessed Solomon with both wisdom AND unbelievable wealth! And, I know, that the more wealth and abundance we have – the more we can share with others.
My mission is to empower women – women from all over the world, especially those from underdeveloped countries. The TEAR fund here in Australia provide finances to women in underdeveloped countries to start up their own little businesses so that they can provide for their families. The thought that $100 will help a woman take care of her family is just amazing. For her, that $100 IS the answer to being able to provide for her family. Just amazing, isn’t it. Blessings to you Claudia!
Annemarie, it is Ecclesiastes 10:19b…but money is the answer for everything (NIV)and in the Message it translates as “but it’s money that makes the world go round”. Isn’t it wild!
It IS wild Claudia. Thanks for sharing! Off to look up that verse now!
Great explanation of the money tips. Your explanation in the comment section is valuable too!!
Thanks Debra – I’m so glad the comments are useful as well! It’s an area I’m very passionate about – as you can probably tell 😉
Annemarie, Great post. I had a flashback of how people perceive money differently. For example I see money as a valuable tool and very necessary not as a few crumbs to get by with. My husband sees us having enough for many years. I see it as a perception or denial issue. My present concern is to accomplish my purpose or several of my passions blessing people and dogs. I don’t want money as my hold “UP” to any logical decision. This is why I am in “make up” mode after being stuck for decades. I finally feel freedom and doing what I can to make up for my dreams. Yeah!
Hi Carol, it’s amazing how each of us can have different perceptions around money – even children growing up within the same environment with the same parents – can have different Money Types than their siblings. It’s quite fascinating. I have couples who are going through the program not only to overcome their own (unhelpful) family money legacies, but also to create an empowering family money legacy that they can share with their children. Now that’s commitment!
Yes, as you say, each of these Money Types (and associated behaviours), results in a denial of money. However what’s different in the case of the Money Types is HOW they’re denying themselves money – the behaviour and habits and what people should do to move out of that stuckness. Glad to see you’re finally feeling financial freedom and reaching your dreams. Congratulations!!
Great posts Annemarie. This really hit home for me. I am interested in finding my money type and how to overcome some of my issues with money. I look forward to learning more from you about this topic.
Thanks Jaime, I’m so pleased you found the article of interest. Looking forward to sharing more about this topic with you! Best!
Having a system to classify behaviors is so powerful, even if you start out feeling you fall into several categories. After all, we ARE a composite of everything we’ve experienced over the years. But one category always predominates,if you think about it. And that one is where our strength lies, our driving force. Great stuff!
Thanks Sharon. Yes, it really is quite amazing and very useful to have a system. [I LOVE systems to be honest. Keeps me focused :)] The beauty of this system is that once we understand our dominating money type, we can recognise our (unhelpful) money behaviours and habits for that type and how they are impacting our lives. We can then easily replace them with positive and empowering habits so we can finally move forward to reaching our income/financial goals. Now that’s exciting!!
Annemarie, excellent article. I found myself relating to several women and their money type. As a business owner myself it is important to handle the money wisely and to know the proper place it holds in our lives. I’m excitedly watching, listening and learning.
Hi Carla, thank you! I know that I see myself in a number of Money Types – however when I look closely, I can see myself reflected more in one. Now that I know what my Money Type is, I also know what the triggers are that can get me off track with how I manage money. Thankfully I now have steps I can take to stop me getting off track!!