“Winter is Coming!” – Ned Stark
The iconic line from the premier episode of Game of Thrones is the perfect descriptor of Ned’s view on money. He had little concern for financial gain he was more concerned about protecting his family than his finances. Enjoy this cross between behavioral finance and the world of the 7 Kingdoms. I promise there are no spoilers ahead!
- Tyrion Lannister – Tyrion has never met a problem that money couldn’t solve. Spenders like Tyrion believe money is meant for spending and have no trouble parting with their dollars. Many times they spend more money than they should and live above their means because they get caught up in the moment or see something they “have” to have (In Tyrion’s case the thing he has to have is usually food and drink or a woman). They usually spend first, think later. On the plus side, though, spenders tend to be generous with their friends and support charitable causes with ease.
- Petyr Baelish (LittleFinger) – As the Master of the Coin Littlefinger is tasked with finding the money for the King to spend. He is always looking to strike a good deal and must carefully balance the needs of the crown with its ability to pay. He is a Saver by nature and always loves to get a good deal. As easy as it is to get Spenders to part with their money, it’s equally hard to get Savers to part with theirs. At their worst, Savers can be viewed as cheapskates who don’t tip servers well or skip out on their portion of a shared bill. At best, however, Savers can be resourceful and creative, and they role-model a lifestyle that’s not focused on material possessions.
- Tywin Lannister – The leader of the house Lannister of Casterly Rock was a very shrewd and Risk-Averse personality that placed security and planning as his No. 1 concerns. He regularly looked to protect his family wealth and was very selective when it came to taking risk. Risk Averse people like Tywin prefer proven, safe investments and like to plan and research before making any big purchases. They view money as a tool that generates security. Their hesitation to part with money or seek out investment opportunities comes from their high priority on feeling financially stable. At best, Risk-Averse personalities can help a family maintain solid financial footing. At worst, they may forgo opportunities for growth due to risk concerns.
- Joffrey Baratheon – Gamblers like Joffrey think money is all about the thrill of the chase. They’ll take big risks if it means a potentially big payoff, and they’re driven more by optimism and gut feeling than by details and analysis. During his time as ruler Joffrey rarely headed the advice of his financial advisors. He was reckless with the crowns money and put the kingdom in a difficult situation. At best, Gamblers may dramatically increase their wealth with a winning investment. At worst, however, Gamblers may lose it all.
- Ned Stark – The King of The North is a Flyer. Flyers are best described as the “doesn’t pay attention” personality type. These people simply don’t think about money at all. They don’t view money as a tool that creates security, status symbols or anything else. They’d be equally happy with a tiny or massive bank balance, and they believe that people who think too hard about money (like Savers and the Risk-Averse) are a bit obsessive.
What type of money personality you have affects your ability to create and grow your wealth. Each personality has its strengths and weaknesses and it is important for you to understand how your money personality can be used to your advantage. Share this post with your friends. Call me (336-310-4233) or email (peter.huminski@lpl.com) to find out more about your money personality.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.