What is your money personality?

Understanding your personal attitude to money is key to setting goals that fit your lifestyle and vision of the future. We asked artist Susan Simonini about her money mindset.

THE CASE: Susan Simonini learnt about money the hard way. The Tasmania-based ceramicist grew up in an environment where money had a fairly negative connotation and she racked up a $500 credit card debt just after turning 18.

“It took me a long time to pay off that debt,” says Simonini, now 51, who recently sold her home in Queensland to relocate to Tasmania and be mortgage-free. She is now focusing on living the lifestyle she wants, including overseas travel with her husband, Richard.

THE ANSWER: Simonini says she’d rather not think too much about money – the classic trait of a “money avoider”. Experts in financial behaviour have identified three other money personalities*: “worshippers”, who believe money makes them happy; “status seekers”, who see money as power; and “vigilants”, who spend cautiously, keeping a close eye on budgets.

Everyone’s take on financial wellbeing is subjective and can be influenced by childhood, psychology and life experiences. Knowing your attitude towards money helps set up strategies that best reflect your core values.

For Simonini, it means the security and freedom of having little debt and creating diverse income streams. “Living within my means has allowed me to follow my creative dreams without the stress of having to bring in a specific amount of income each week.”

Find out more about your money personality at bt.com.au/moneypersonality