Comments on: How Your Personality and Past Affect Your Money Habits

By: Frank Vincent Ippolito

Frank Vincent Ippolito — Thu, 24 Dec 2009 08:03:46 +0000

It has become apparent that cash back credit cards have recently been on a steep decline as far as availability goes. Some might say that in these particularly difficult financial times, having CASH BACK would be what they want, ideally.

In 2005, 43 different credit cards offered cash back as a reward. in 2009, there are only 13. But what consumers need to come to realize, is that the cash back reward was usually limited to 15-20 dollars a month. so wouldnt you prefer to get air miles, which may save you much more than 15-20 dollars a month, next time you travel? Or how about something that you use everyday, like fuel. Free fuel is the same thing as free money essentially.

Busineses are the ones who seem to truly benefit from the cash back credit card reward. They don’t seem to have a limit per month, rather a .5% on their spendings.

By: Marc Wyzykowski

Marc Wyzykowski — Mon, 14 Dec 2009 20:00:38 +0000

This was a very interesting post and I imagine it could be a much lengthier post too. In particular, I am interested in how people’s parents’ spending habits have affected them later on in life. My father has never bought anything on credit, not even our house or new automobiles. As I grew up I figured him to be a miser and extremely cheap. Yet, as this downturn has highlighted, he has completely avoided all of the risks associated with over-leveraging…particularly foreclosures, even on his many rental properties.

It would be interesting to see a series of articles on money-matters from old-timers like that who have a very basic and conservative approach to their finances.

By: Mary Hall

Mary Hall — Thu, 22 Oct 2009 04:05:50 +0000

This is brilliant, made me smile when I read that bit about using credit cards to earn rewards I’ve always believed in rewarding myself a little bit everytime I accomplish a goal (the existence of a “pizza fund” in my budget plan shows it), so I tend to compromise when it comes to debt reduction. A huge portion of my income is allotted to paying off debt but I also make sure I save a small amount that goes into my vacation fund.
.-= Mary Hall´s last blog ..Holding on to Your Dream Home =-.

By: Jenny

Jenny — Wed, 09 Sep 2009 15:31:31 +0000

I have to agree with the comment….definitely one’s personality reflects in their financial position.But men are slave of acquired habits..If we bring some changes in our old beating habits then we can surely lead a debt free life.

By: * Back From Family Road Trip Vacation

* Back From Family Road Trip Vacation — Tue, 23 Jun 2009 02:46:37 +0000

[...] of financial tips from dozens of PF bloggers.Save money while traveling at Gather Little By LittleHow Your Personality and Past Affect Your Money Habits at Man vs. DebtMicrosoft’s fate: The conclusion at Intelligent SpeculatorGrowth investing at [...]

By: rachel

rachel — Sat, 13 Jun 2009 03:16:24 +0000

I LOVE the point about using your personality to define what’s best for your financial road map. Excellent point. Something I also love about Baker…he’s not “too cool” to allow guest posts/comments from people from a different point of view. All the best fellow bloggers!
.-= rachel´s last blog ..The Security Of Imprisonment =-.

By: J.D. Meier

J.D. Meier — Thu, 11 Jun 2009 17:08:33 +0000

I too hate repetitive things, unless I'm focused on mastering my craft. If I can change my "why" or "how", I can find enjoyment. J.D. Meier’s last blog post..Hot Spots for Life

By: One Million Dollars Down The Drain

One Million Dollars Down The Drain — Thu, 11 Jun 2009 05:00:28 +0000

[...] Man Vs Debt: How Your Personality and Past Affect Your Money Habits [...]

By: gigi

gigi — Tue, 09 Jun 2009 18:57:47 +0000

My childhood is something that strongly influenced my financial success. And from what I’ve read about other successful people, it’s an unusual start to a happy ending. I was raised in a single parent household where there was no financial discipline, which I attribute to the lack of money. When it’s obvious that there is no way you can pay your bills, I guess the response my mom had was to just throw her hands up and try to rob Peter to pay Paul. However she also had some bad habits like cigarette smoking, and eating out at low budget restaurants (Dennys). These habits hurt the bottom line, but I think it helped her keep her sanity to have some money left over for herself. Anyway, we were poor, and I knew it. However the good thing is, I never learned to enjoy a lavish lifestyle. I stopped asking for “wants” early on because I knew we couldn’t afford it. I got used to not having “needs” sometimes too. It was embarassing at times, but my character was strengthened through it all. I earned money from a very young age doing things for neighbors and I paid for my own entertainment and lunches in school.

As a young adult, I was fortunate enough to work in a job where I rubbed elbows with wealthy clients. I was amazed at how much money some of them had. So I asked them how they did it. They were kind enough to share with me their money strategies. And I was young enough to learn from them. I also saw how the truly wealthy ones didn’t look or act wealthy, and that the showy ones were broke. This convinced me that “looking” rich meant nothing.

I have gone on to make a nice living for myself and my family. We drive old cars, wear target clothes, and eat spaghetti most nights. But we are far wealthier than most people our age. I’m grateful I learned what NOT to do with money from my parents, and had the opportunity to get good advice from people that were truly wealthy and not just faking it. I think too many people take advice or mimic those who fake it, and they end up just as broke as the next guy.

By: MoneyFunk

MoneyFunk — Tue, 09 Jun 2009 17:30:11 +0000

Yes, Nice article. I think that is why it is so important for me to use my financial resources wisely, because my kid’s are learning thru my actions. Its important to me for my kids not to get in the same devious financial traps.
And I think the Zen like philosophy is a good thing. Clutter havocs progress. But, it is very hard to get to this point now that I have realized I don’t want the clutter.

MoneyFunk’s last blog post..The Plan