What’s Your Money Archetype?
Some of Carl Jung’s writings on psychology describe modern fictional characters and the public perception of public figures, and even individuals’ perceptions of themselves as archetypes, symbolic character types that, according to Jung, appear in the myths of most or all or the world’s cultures. Some famous examples of Jungian archetypes include the Ruler, the Artist, the Explorer, and the Sage. Deborah Price, founder of the Money Institute, has applied the concept of archetypes to people’s financial values and identified five archetypal patterns, many of which can lead to the buildup of debt or to conflict with family members over money. No matter your financial personality, a Miami debt lawyer can help you tackle your debts.
Giver, Gatherer, Dreamer, Royal, or Rebel
Price describes the five money archetypes as follows; she acknowledges that one can ascribe to the values of more than one archetype at the same time or at different stages in one’s life:
- The Giver – You find meaning in being generous with money, gifts, and non-financial forms of help. You can get yourself into debt if you are not careful about deciding how much you can afford to give.
- The Gatherer – You prefer to save as much money as you can for the future, so that you can spend it on things you will need or help others with necessary expenses. While you are wary of borrowing money, you can cause financial problems for yourself by making penny wise and pound-foolish financial decisions, such as buying an old, used car that needs lots of repairs instead of a certified pre-owned one that comes with minimal maintenance costs for the first few years.
- The Dreamer – Money is not the most important thing in your life, and it is not the deciding factor in most of your choices. You can get into financial trouble if you make major life decisions with the assumption that the financial details will work themselves out later, such as taking out one hundred thousand dollars or more to attend your dream college instead of going to an in-state university that costs a lot less.
- The Royal – You base your esteem of others and your self-esteem on displays of wealth. You can end up with major debt problems if you spend beyond your means in an attempt to keep up with the Joneses.
- The Rebel – You enjoy questioning conventional wisdom about finances and everything else, so you often make financial decisions that others consider risky. This is great when you are right, but when you are not, you can end up with debt.
From the perspective of a debt lawyer, the thought process that got you into debt is less important than the strategy for paying down your debts, which might even include debt consolidation or filing for bankruptcy protection.
Contact a South Florida Debt Lawyer About Correcting Your Financial Mistakes
A South Florida debt lawyer can help you learn from your mistakes and move toward a better financial future. Contact Nowack & Olson, PLLC in Jupiter, Florida to discuss your case.