Altruists tend to take care of others before themselves.
As an Altruist, you likely earn money, but struggle to keep it due to an innate desire to care for others ahead of yourself. You have goals, but struggle to achieve them due to your propensity to spend – albeit on others.
You tend to prioritize giving over saving for your own current and future goals. Note: we often see this emerge as parents focusing their spending on their children (sports, college, etc.), or through donations to religious establishments – prior to taking care of your own financial needs.
Check out how your Altruist personality comes out in the following areas:
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Sometimes evaluates costs, sometimes spends freely
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Comfortable with debt
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Abundance mentality
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Moderate: balanced between taking risk and security
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May save some, without consistency
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Willing to talk about money
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Lives day to day
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Enjoys giving to and supporting others
Tips for The Altruist:
Are you saving for your own goals? If the answer is no, set up a monthly strategy to put your own needs ahead of others first. Begin saving 10% of your take home pay for yourself, and then determine how much you can give from what is left over.
In your attempt to support others, are you putting yourself in a position where you may be a burden to others in the future? Consider having an open conversation with your family about the need to plan for your financial future to prevent them from having to care for you financially at a later date.
Contact a financial planner and share your desire to be generous with your means and wealth. They can help you create a financial plan to help you determine how much you need to save for your own needs, and how much you have the ability to share. There is likely a balanced approach that will allow you to do both!
Ready to get started?
The 8 Financial Personalities
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The Protector
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The Consumer
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The Explorer
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The Mogul
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The Avoider
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The Architect
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The Altruist
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The Analyst