WHAT’S YOUR FINANCE PERSONALITY?
Knowing it will help you understand your attitude towards money, so you can take control of your finances. By Adelina Tan
Finding out will help you pick better investments.
What you do doesn’t just reveal your spending habits and broader attitude towards money. To a licensed financial advisor such as Ian Wong, it also provides insight into the sort of investments that would work best for you. “I’m not a DISC practitioner, I don’t teach it, but I use the system in my work,” says Ian, who explains that the DISC (Dominant, Influential, Steady, Compliant) personality theory originated from William Moulton Marston when he published a book titled Emotions of Normal People in 1928.
“Humans have all four personality traits in them. However, it’s like a cake – you’d taste of the strongest ingredients,” Ian shares. In each person, it’s typically two traits that manifest the most – one main trait and one secondary trait. “D and I are active types, while S and C are more passive. The task-oriented ones are D and C, with S and I being more sensitive to social reactions.”
That said, it’s possible for your personality type to change over time if you’re aware of the strengths and weaknesses of each. For example, a C type – the thinker and strategist of the four – could learn to be a better conversationalist and excel in networking, which are traits typical of I. “Donald Trump is a D, Richard Branson an I, Robert Kuok an S, and Bill Gates a C. So, each trait does have its own leadership style,” Ian affirms.
Ian Wong, licensed financial planner and partner with IPP Financial Planning Group, Malaysia