What your favourite cuppa tells you about how you relate to money
Your personality in a cup.
Instant or percolated coffee
Regular cup of Joe. Joe or Jane investor. You are likely to have very simple investments if any. When you need advice you head down to the bank branch and ask for it, or you ask a mate.
You tend to take the first advice you are given if it makes sense to you. Your retirement fund is probably invested in the default option. You don’t find any of it very interesting.
You probably spent more time choosing your car than your choosing your home loan or your insurance. You and your money could benefit from you taking more of an active interest.
You are a little more frivolous than Joe investor. You aren’t afraid to splash out for the finer things in life. You like a bit of elegance and sophistication but you are actually pretty ordinary when it comes to money.
You tend to go for the same “finer things” as many others – nice cars, clothes and home decor. And when it comes to investing and money your motto might be “you get what you pay for”.
You are likely to invest in residential property but would probably get a lovely house which is a poor investment rather than a fixer upper. Considering what’s behind the facade when it comes to money and investing will serve you well.
You like intensity. You crave excitement and you have a joie de vivre. Your motto is “no guts no glory”.
You would happily invest your entire $20,000 on one stock just to sell it a week later. Go big or go home. You aren’t afraid to borrow to invest and you quickly forget your losses and move on.
I would say more but you have likely already stopped reading this….on the off chance that you haven’t…my advice is to slow down and take a more holistic and long term approach. There is more to money than just this moment.
What sets you apart from your closest relative the latte? You prefer a thick layer of foamed milk. How does that translate to your money? You prefer a larger cash buffer. You are a little more cautious and risk adverse.
You would “settle” for a simpler life rather than go into too much debt. You don’t have anything to prove with how you spend or invest money. You are a bit of a lone wolf and a role model. People look to you more than you realise.
You are pretty good with money but consider the impression and example you give to others, especially children. People unconsciously look to you to be the example.
(I forgot about you on the first draft of this article maybe because) you tend to stay more in the sidelines. Money and investing can be very intense for you. Makes you jittery. Not something you can get involved in on a daily basis. And you really don’t need to if you make a few brave decisions and set up some structure on the days you feel you can handle it.
You would do well with a Financial Adviser or Accountant helping you with the big decisions. Be careful who you take advice from. Your desire to avoid getting directly involved could lead you to delegating your affairs to someone who isn’t going to act in your best interest.
You are an entirely different breed altogether. You also like fine quality things and you may have areas of specialist knowledge that you like to invest in such as antiques, art, jewellery or classic cars. But are these things really “investments” or just an excuse for you to spend money on those things you enjoy? Not that you really care to be honest.
You march to the beat of your own drum. As such your investment portfolio may be skewed towards the weird and wonderful. Don’t forget the “ordinary” investments can be good for you too.
You have a degree of financial immaturity. But with this also comes naive optimism and willingness to be playful with your money.
Your motto would be “easy come easy go” and you know there is always more money to be earned and spent tomorrow. And you look forward to many tomorrows. But remember you won’t be young forever Peter Pan, don’t forget to plan for the future.
And finally….drum roll please….the authors choice
You are balanced. Not too bitter. Not too sweet. But in all honesty you want it all. Growth and income. Security and risk. And you aren’t afraid to spend more time, money or calories to get it. You want work that you enjoy and to be paid well for it!
Don’t forget that when it comes to money and investing there will always be trade offs. You will need to make decisions about what you value most or will be overwhelmed trying to have everything at once.
Bonus qualities for you coffee snobs.
Extra hot – you look for value that will last.
Soy – you are easily upset and look for more gentle soothing options when it comes to money.
Double shot – everything that was said above only even more so.
How did we match up to your personality? Comment below and let us know.
Many joyful blessings,