There are many different types of financial mindsets, which define the way people think about money. Below are some common characteristics of different mindsets as well as ways to improve their mindset as not to hinder their happiness and long-term financial success.
- The Saver: Saving Drives Life Decisions
- Pros: Getting by with less, organized, responsible
- Potential Cons: Stingy with oneself and with others, pound wise but penny foolish (lose perspective of what is really important, and the savings become more important than relationships, family, etc.), not as adventurous and likely to miss out on valuable experiences
- Thoughts on Improving Long-Term Financial Success:
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