The Giver, the Pleasure Seeker, or the Protector – What Is Your Money Mind®?

Greetings all!

Have you thought about your relationship with money and how it affects your daily financial decisions? Are you the Giver, the Pleasure Seeker, or the Protector? 

Image from https://www.unitedcp.com/meet-joe-duran

Joe Duran’s book “The Money Code” deciphers your money code:

1. The Giver: You take care of others but might obsess about sacrifices to be made
2. The Pleasure Seeker: You want to feel good but might be worried that there is never enough.
3. The Protector: You want to find peace of mind and avoid pain.

Joe is also the founder and CEO of United Capital wealth management firm, which offers an interesting diagnostic tool – Money Mind^®. United Capital says, "Money is only fuel" - and understanding your money biases might help you make smarter financial choices.

Discover your Money Mind^® here:
https://yourmoneymind.finlifepartners.com/#/?_k=n56lzg

Below is the summary on each type's instinctive responses to making financial decisions.

PROTECTION:

The Protection Money Mind^® is motivated by fear and tends to value security and peace of mind. 

• Spending: Often focus on cost, delay gratification, and live well within their means
• Saving: Tend to focus on saving and can be critical of those who spend money freely
• Planning: Careful, meticulous, and motivated to protect themselves and loved ones
• Safety Net: Seldom feel that their safety net is large enough
• Risk-Taking: Usually prepared for bad outcomes, can be apprehensive about risk and dislike losing
• Timing: May require a high degree of certainty, potentially missing opportunities

COMMITMENT 

The Commitment Money Mind^® tends to derive joy from giving and may fear letting others down. 

• Spending: Tend to prioritize supporting the people and causes they care about
• Saving: Can run short on funds for their own needs as they support others
• Planning: Usually consider the other's opinions and how their actions can impact them
• Safety Net: May focus on helping others regardless of their resources
• Risk-Taking: Often leave important decisions to others rather than taking control
• Timing: Frequently put off their own financial needs to help others

HAPPINESS

The Happiness Money Mind^® tends to prioritize enjoyment and may fear missing out. 

• Spending: Usually thrive on living life to the fullest, sometimes beyond their means
• Saving: Can feel frustrated and impatient at the thought of having to save
• Planning: May value near-term rewards over planning for the future
• Safety Net: Can have blind spots that result in an underfunded safety net
• Risk-Taking: Tend to be overly optimistic and underprepared for negative outcome
• Timing: Often quick to make important decisions and seize opportunities presented

SOURCES:

1. Joe Duran’s book “The Money Code”
2. https://www.unitedcp.com/financial-life-management
3. https://yourmoneymind.finlifepartners.com/#/?_k=n56lzg
4. Good overview video: https://vimeo.com/64098130

What did you think? Drop me a line!