Another look at explaining financial-related decisions and emotions. (full article here)

What I found interesting was the classification of financial archetypes:

  • misers fear becoming penniless and have trouble enjoying the benefits of their money
  • spenders shop in an often uncontrolled manner, particularly when feeling low – and get a short-lived high, often followed by guilt
  • tycoons see money as a route to power and approval, and believe wealth will make them happy
  • bargain hunters feel superior when they get discounts, and feel angry if expected to pay full price
  • gamblers feel exhilarated when taking chances, and find it hard to stop – even when losing – as a win brings a sense of power.

So, which type are you?