What drives your financial behaviours? The 8 money types reveal all

Money types are designed to be “teachers”. They help us to grow and develop so we can reach our financial potential. The best thing about these money archetypes is they’re not fixed. As your behaviour and financial awareness changes and evolves, so will your money types. Are you ready to better understand your relationship with money, and take stock of where you are right now? Then read on to discover which money types you identify with!

You may have heard of personality types like Myers Briggs or DISC profiles, but have you heard of Money Types (or archetypes)?

Developed by Deborah Price (founder of the Money Coaching Institute), money types can help us to better understand our financial behaviours, unique money patterns, and the unconscious motivations behind our money decisions.

Money types are designed to be “teachers”. They help us to grow and develop so we can reach our financial potential. The best thing about these money archetypes is they’re not fixed. As your behaviour and financial awareness changes and evolves, so will your money types.

Are you ready to better understand your relationship with money, and take stock of where you are right now? Then read on to discover which money types you identify with!

The power of money archetypes

We often repeat the same behavioural patterns, but did you know the same goes with our money patterns? The way you experienced, observed and learned about money as a child, both consciously and unconsciously, has undoubtedly rubbed off on you.

Money evokes a range of thoughts, emotions, and behaviours. Here are just a few examples:

·       Do you seek to control money, or does it control you?

·       Do you crave money, disregard money or avoid it?

·       Does money instill you with feelings of anxiety, excitement, security or freedom?

·       Do you squirrel money away, give it away, or frivolously spend it?

Whatever your money behaviours, it’s likely that these deeply ingrained patterns will show up, time and time again.

That’s where our 8 money types come in. They can show you what your positive and negative financial patterns are, which helps you to become more mindful of your money habits, and financial patterns.

Unpacking the 8 money archetypes

Most people are a combination of 3-4 money types and have 1-2 dominant types.

The goal is to embrace 2 specific types predominantly. Identifying the money type/s of those around you can also be helpful, especially when considering how they interrelate with your money type/s.

So, let me introduce them.

The Innocent – A ‘head in the sand’ approach to money

The Innocent is easily overwhelmed and confused by financial information. They often feel fear and anxiety around money, and as a result, actively avoid it. Their internal dialogue may sound like: ‘I’m not good with money’ or ‘I’m not smart enough’ to deal with money.

They rely heavily on the advice and opinions of others, and ideally would prefer someone else to rescue them, or take charge of their financial affairs.

The Innocent is trusting of others, but has not yet learnt to judge, question or be cautious of other’s motives and behaviours when it comes to money. This makes them financially vulnerable.

We all start our journey in life as Innocents, but as we grow, learn, develop and gain experience, we move into other money types. But for Innocents, they often continue to feel immense fear when making financial decisions on their own, and therefore, have no financial strategies or nous. The pitfalls for Innocents are avoidance and helplessness.

What an Innocent is internally thinking:

“It’s all too hard. I don’t know where to start.”

“I don’t know anything about money. What would you do?”

“Thinking about money stresses me out.”

“I wish someone would take care of this for me.”

The Victim – A ‘responsibility avoidance’ attitude towards money

The Victim is prone to blaming others or external factors for their financial problems. They often have a range of excuses for why they’re not more financially successful and why they can’t get ahead financially. Bad things may have indeed happened to Victims, but they never take personal responsibility for their financial situation or seek a way to improve it. As a result, Victims can seem powerless (and may appear to others as Innocents), often seeking financial support from others. However, this can be a ploy (often unconscious) to get others to undertake the financial responsibilities they don’t wish to do.

Victims have often had a difficult childhood, suffered significant financial loss or have been betrayed financially. Without properly processing this pain, Victims cannot seem to escape this pattern of external blame, and therefore live a self-fulfilling prophecy. Moreover, they are constantly looking to be rescued or financially supported by others, because they believe they’ve suffered so much already.

What a Victim is internally thinking:

“What’s the point…it’s useless. I’ll only lose more money.”

“I’ll never get ahead financially.”

“I’ll never forgive them for what they did.”

“Nothing good ever happens to me, and if it does, it won’t last.”

The Warrior A focused, decisive, educated approach to money

The Warrior is often financially successful, strong, and powerful, but in a healthy and balanced way. They are great investors, are confident and disciplined in their approach to finances, and understand how to take control of their money to make it work for them.

Although Warriors listen to financial advisors and other experts, they make their own decisions, relying on their own instincts to guide their financial decision-making. Rational, logical, discerning, goal-orientated, focused, and driven, the Warrior is the money type we all should strive to be.

What a Warrior is internally thinking:

“I’ve got this.”

“I’m focused on my financial goals.”

“I know what I need to do, and I’m going to do it – no excuses.”

“I’ll protect and provide for myself and my family financially.”

The Martyr A ‘putting everyone else first’ attitude towards money

Martyrs neglect their own financial needs and prioritise others. Often, mums or mother-types, tend to be self-sacrificing and long-suffering. They’ll buy things and experiences for others, but not for themselves, and they can often rescue others (e.g. a child, spouse, friend, partner, parent) from an adverse financial circumstance. But the catch is, they often have strings attached and feel that others are indebted to their generosity. This makes them easily let down when others fail to meet their expectations. In essence, they have formed an unconscious attachment to their own suffering and neglect their own needs.

Often, perfectionists, Martyrs have high expectations of themselves and others, but they live in duality. They seek to be in control and can be financially generous, but when wounded or disappointed they can become judgmental and bitter. Even though they thrive on giving money, they are uncomfortable receiving money, charging what they’re worth, or being paid a fair salary.

Like Victims, Martyrs often live high drama lives, experience a lot of highs and lows, and can be too attached to negative experiences. However, Martyrs can be successful money managers, especially if they are willing to stop putting themselves last and be open to receiving as much as they give.

What a Martyr is internally thinking:

“I can’t believe they did that, after I was so generous to them.”

“What would they do without me?”

“I’ll just miss out. They need it more than me.”

“If I don’t do it, no one else will.”

The Fool A ‘life’s too short’ attitude towards money

The Fool is always looking for a windfall of money by taking financial short-cuts. Happy-go-lucky in nature, they play by their own rules, can be a bit of a gambler, and often glaze over financial details when making decisions. This can make them a bit foolish.

Often spontaneous, excitable, in-the-moment and easily caught up in the momentum of a situation, the Fool takes financial chances. A combination of the Innocent and the Warrior, the Fool is relatively fearless in their decision-making, even bordering on reckless.

The Fool is an eternal optimist regardless of their circumstances. They often land on their feet financially and are not easily defeated by setbacks. Even though they attract money and often set out to rule the financial world, they are easily distracted, and money can slip through their fingers. To hold onto their money, they need to develop greater self-restraint, like the Warrior.

What a Fool is internally thinking:

“I don’t want to miss out – I’m in!”

“Wow, that sounds like fun – or a great opportunity to make $.”

“I’m going to pay for everyone because I can.”

“Hey, you only live once. Let’s do it, buy it, try it!”

The Creator/Artist – A love/hate attitude towards money

Often on a creative, spiritual, or artistic path, the Creator or Artist has a love/hate relationship with money. Although they may love money for the freedom it buys them, they are equally repelled by its societal values. They have no desire to participate in the material world and may judge people who do.

Their negative beliefs about materialism can create a financial block, and as a result, they may struggle to acquire financial freedom or wealth.

For Creator/Artists their focus internally or spiritually means that they fear being inauthentic or not true to themselves. The iconic perception of the starving artist is a manifestation of this. It’s not that the Creator/Artist lacks talent or ability, it’s that they’re stuck in a financial belief system that’s holding them back.

To alleviate their love/hate relationship with money, Creator/Artists need to embrace both the spiritual and material worlds into their life.

What a Creator/Artist is internally thinking:

“Money isn’t as important as your purpose.”

“I’d never sell myself out for money.”

“I’m more interested in spiritual growth and being authentic than being wealthy (you can’t have both).”

The Tyrant – A ‘money equals happiness’ attitude

Fearing a loss of control, the Tyrant uses money to influence and manipulate people, events, and circumstances.

While Warriors come from a place of genuine desire for other people’s welfare, Tyrants are purely self-interested. In essence, they are overdeveloped Warriors who have become driven by dominance and control.

Although Tyrants exude financial success on the outside and have everything they need or desire, on the inside it’s a different story. They often feel insecure, incomplete, unfulfilled, unhappy, and ‘not enough’ deep down.

Accumulating money is their objective. They rely on the external world (e.g. people or things) to make them feel happy, rather than creating their own internal joy. Often, they can be described as pretentious, self-important, and materialistic. Tyrants are often attracted to the Innocent money type who are easy to manipulate and control.

What a Tyrant is internally thinking:

“If I have control over my money, I’ll be in control of my life”

“Money buys happiness.”

“They’ll do it my way – I can buy whoever, or whatever I want.”

“What do they know – they’re not financially successful.”

“Win, no matter the price.”

The Magician – A balanced, conscious, and values-led attitude towards money

Next to the Warrior, the Magician is the second most ideal money type. They know their Money Story, made peace with their financial history and family upbringing, and are conscious of their money patterns and behaviours. As a result, they understand the external and internal impacts of money on their life.

Magicians are fully awake and aware of themselves and what they value in the world. They live in the present and are financially balanced in their approach to managing money. They feel a sense of financial freedom and know their needs will always be met.

What a Magician is internally thinking:

“I feel at peace with my financial situation.”

“I know my needs will always be met.”

“I use money as a tool to reflect my values.”

“My past doesn’t need to determine my financial future.”

So, you think you know your money types – what next?

Did you read the 8 money types and immediately resonate with one or two profiles? If so, that’s great. If not, don’t worry. Our money types quiz can help to narrow down your types further. If you’re in a relationship, why not have your partner take the quiz also, and chat about the results.

It’s important to go easy on yourself. Each money type has pros and cons. They have been devised to act as our financial teachers by holding a mirror up to ourselves, and our behaviours. Being open to personal growth and development, you can more quickly step into your financial power.

When reflecting on your results, the aim is to transition into the more empowered money types that enable you to manage your finances more effectively (e.g. The Warrior or Magician). If you’re not sure how to put this into practice, book a coaching session with me today.

Take our money type quiz now


Karen Eley is a financial coach with more than 20 years’ experience as a financial adviser. Through her business, Women Talking Finance, she helps women to be confident and knowledgeable about all things finance. Karen translates complex financial concepts into simple digestible ideas.

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