Money can be a difficult subject to discuss because of how it influences relationships and incurs judgment by others on how it should be saved, spent, and distributed. Since most people find it difficult to discuss personal finances even with their partner, many are not fully aware of how their relationship with money influences themselves, others, and outcomes. How would you describe your relationship with money? Brown (2017) identified 7 money types: (1) hospitality, (2) discipline, (3) beauty, (4) connection, (5) endurance, (6) humility, and (7) leadership. These money types manifest in certain attitudes and behaviors involving money. What is your motivation behind spending or saving?
Although each money type provides numerous positive influences, each also has a darker side in terms of how it can affect others and the ability to achieve life goals. For example, money can provide an incredible blessing to others when used to facilitate hospitality such as gift giving and hosting others. However, people who drive on hospitality to an extreme may find (1) recipients feel guilty for not being able to reciprocate, (2) they experience hospitality fatigue, or (3) they jeopardize their own ability to provide for their families. People should be aware of their money types and intentional in understanding their power and using them as strengths.
I would encourage everyone to take the money type survey and ask the following questions:
- What are my money strengths?
- How can I use my strengths for greater benefit?
- Where am I operating on the dark side of my money types?
- What money habits can I change that would help me meet my goals?
Brown, T. (2017). The Seven Money Types: Discover How God Wired You to Handle Money, Grand Rapids, MI: Zondervan.
About the Author: Sandra Dillon is a professional coach and consultant with an extensive background in leadership, business development, and sales. She coaches individuals as well as designs and facilitates workshops. She has a passion to help organizations engage all their colleagues. You can learn more about Sandra by visiting her website at www.shinecrossings.com.