Dr Judith Orloff's Blog

What's Your Money Type? Take This Quiz

 
Judith Orloff - Monday, June 16, 2014

(Excerpt from Dr. Judith Orloff's national bestseller The Power of Surrender: Let Go and Energize Your Relationships, Success, and Well-Being)

Money can bring out your most fearful self or your largest heart. Which one you surrender tochanges everything. How do you do this? By finding effective ways to surrender fear, stinginess, and other resistances to abundance so that money can flow more freely into your life.

To identify your style of relating to money, below are five money types, including quizzes from my book, The Ecstasy of Surrender. Though you may contain aspects of more than one type, pick the one you most resonate with. Evaluate your financial habits with kindness. The goal is to develop a successful approach to money and get pleasure from what you spend on.

Type 1. The Worrier

Worriers can be thrifty, astute problem solvers, and will avoid errors because of their diligence with finances. The downside is that worry increases stress hormones, decreases immunity, and impairs health and sleep. It’s important for them to focus on surrendering worry so they don’t sabotage abundance with their panicked relationship to finances.

Quiz: Am I A Worrier?
Ask yourself:

  • Do I worry about money every day?
  • Do I make financial problems larger, not smaller?
  • Do I have difficulty falling asleep because I’m worried about money?
  • Do I worry about money even during comfortable times?
  • Do I find I can’t stop worrying, even though I try?
  • When one financial worry is solved do I immediately go onto another?
  • If you answered yes to all 6 questions then worry plays a very large role in your financial life. Four or five yeses indicate a large role. Two or three yeses a moderate role. One yes indicates a low level. Zero indicates that this is not your primary money type. Use this format to calculate your score in the other four money types in this blog.

    The art of surrendering worry is to stay focused in the present moment, rather than making up worst case scenarios to freak yourself out, and take action where you can, such as slowly paying off a debt. What’s hard for worriers to accept is that despite their valiant efforts to be financially secure, they can’t control everything.

    Type 2. The Procrastinator

    This money type notoriously avoids dealing with finances with denial. They live from paycheck to paycheck. For the short term, the feel-good benefit of denial is that stress is reduced as thoughts of financial pressure disappear. But reality will catch up with them when bills mount and creditors start calling. Then panic and guilt about not fulfilling responsibilities set in.

    Quiz: Am I A Procrastinator?
    Ask yourself:

  • Do I put off financial decisions?
  • Are my bills piling up?
  • Do I have difficulty making decisions about money?
  • Do I keep ignoring my credit card debt?
  • Do I glaze over when paying bills?
  • Are my taxes or other bills always past due so I accrue penalty charges?
  • As a psychiatrist, I know how much diligence it takes to surrender denial. This is something procrastinators have to want to do. Then, gradually, they can train themselves to address money at a comfortable pace. The secret to letting go of procrastination is finding the sweet spot between accepting financial responsibility and taking time out from stress to unwind.

    Type 3. The Addictive Spender

    Addictive spenders prefer the thrill of spending to the security of saving money. They spend on impulse whether they can afford it or not. Spending becomes a drug, a way to self-medicate low self-esteem, hurt, and disappointments by futilely trying to fill an emotional hole with material things--a temporary fix at best.

    Quiz. Am I An Addictive Spender?
    Ask yourself:

  • Do I have difficulty controlling my spending?
  • Do I get a thrill from spending money or gambling?
  • Do I over-spend to escape worry, anger, or loneliness?
  • Am I a compulsive shopper, unable to pass up “bargains” I can’t afford?
  • Are my debts affecting my serenity and reputation?
  • Do I have a bad credit record?
  • Addictive spending is primarily an emotional and spiritual issue, not a financial one. Treatments include counseling, twelve step programs such as Gamblers or Debtors Anonymous, along with being taught money management skills. Healing comes from learning to address and let go of painful emotions without trying to numb them with spending.

    Type 4. The Saver/Miser/Hoarder

    These types are practical, good at planning for the future and saving for a rainy day. Nevertheless, there’s a difference between being financially responsible and obsessive. Savers who go overboard can become penny pinchers and greedy misers. It’s hard for them to enjoy their money, take vacations, or spend on themselves and others.

    Quiz. Am I A Saver?
    Ask yourself:

  • Am I diligent at saving money but don’t hoard?
  • Do I prefer conservative investments to risk taking?
  • Can I enjoy spending money on things I can afford?
  • Do I try not to spend more than I make?
  • Am I against greed?
  • Do I give to charitable causes?
  • When savers turn into misers or hoarders, it may suggest obsessive compulsive disorder which makes them clutch onto money and things to ward off anxiety, the opposite of surrender. They can’t surrender control and be generous because they fear scarcity. To avoid becoming a mean, miserly Scrooge spread abundance by anonymously leaving small amounts of money for people to find. Experience the happiness of this as you let stinginess go. Be a self-appointed money gnome who spreads abundance in the world.

    Type 5. The Intuitive Spender

    At their best, intuitive spenders are finely tuned instruments, balancing logic with gut instincts in money management, hiring, and investments. However, intuitive spenders get into trouble when they simply go on impulse and disregard logic. Also they can misread a financial situation if they can’t distinguish intuition from wishful thinking or fear.

    Quiz: Am I An Intuitive Spender?
    Ask yourself:

  • Do I check in with my gut about finances?
  • Do I look beyond logic for answers?
  • If a decision feels right do I act on it or if it doesn’t can I let it go?
  • Do I trust my gut when it says “beware” of an investment?
  • Will I take a reasonable financial risk based on intuition?
  • Do I consult my intuition about how to creatively make money and where to invest or donate?
  • Smart intuitive spenders also have good common sense. Intuitive spenders can be brilliant money managers if they’re clear about what messages they’re surrendering to. The key is to let go of overthinking or fear, and trust authentic intuitions.

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    Judith Orloff, MD is author of The Empath's Survival Guide: Life Strategies for Sensitive People, upon which her articles are based. Dr. Orloff is a psychiatrist, an empath, and is on the UCLA Psychiatric Clinical Faculty. She synthesizes the pearls of traditional medicine with cutting edge knowledge of intuition, energy, and spirituality. Dr. Orloff also specializes in treating empaths and highly sensitive people in her private practice. Dr. Orloff’s work has been featured on The Today Show, CNN, the Oprah Magazine and USA Today. She is a New York Times best-selling author of Emotional Freedom, The Power of Surrender, Second Sight, Positive Energy, and Guide to Intuitive Healing. Connect with Judith on  Facebook and  Twitter. To learn more about empaths and her free empath support newsletter as well as Dr. Orloff's books and workshop schedule, visit her website.

    Comments
    Compulsive Worrier commented on 19-Jun-2014 03:35 PM
    Thank you for this information Dr. Orloff. I admire you and your work. I am a compulsive worrier. I feel there's never "enough". No matter how much money is in the account, I can always see financial responsibilities down the road...short term like next season's soccer fees and long term like college and retirement. The bottom line is that it feels like we're never enough "ahead" to be able to "afford" that family vacation we so badly want to take. Even if the energy bill isn't due for another two weeks, I'll wake up in the morning worrying if there'll be enough to pay it when it's time. Suzy Ormond freaks me out. She would definitely say we can't take a vacation since we don't currently have retirement paid for plus a six month emergency fund, but this makes me so sad because my children will all be grown and it will be too late to make those memories with them by the time we can "responsibly and comfortably" afford a vacation. Please help. I read your advice is to stay present to relieve money anxiety, but I've tried meditation and everything but the facts are the still the facts and the numbers are still the numbers and it seems like there's never enough. I consider myself "evolved and conscious" but when it comes to money worry, I just can't seem to get a handle on it.
    Harry commented on 19-Jun-2014 03:58 PM
    All five types are negative. I love eBay and Amazon and buy too much, but can afford it. I am a saver and investor and take above average risk. I am very good at paying bills and keeping track of everything with Quicken and spreadsheets. I am great at accounting, investing and shopping.
    Elan commented on 19-Jun-2014 08:09 PM
    Thank you HUGE for all your expert care! I admire your genuine insights and I learn, learn, learn. Thank you for enhancing my precious life!!!
    Linda Adler commented on 19-Jun-2014 09:52 PM
    So----I took the test. Now, how do I score myself?

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