Fix the ways your money personality limits you

* Transcript created by AI – may contain errors or omissions from original podcast audio

Today we’re diving into something super juicy that’s gonna help you understand. Why you might be hitting income plateaus in your business. It might help you understand why cash flow feels stuck, or why you are not paying yourself what you should be. We are talking about your money, personality type, and more specifically how it might be holding you back in business.

So let’s unpack the patterns that keep you broke, stressed, or stuck in scarcity. And more importantly, let’s dive into how you can shift them.

So what exactly do I mean when I say a money personality type? Well, I want you to think about it that your money personality is basically the emotional and behavioral patterns that you’ve developed around [00:01:00] money. Now, if you’ve been a regular listener for the podcast, you will know that I talk about how your upbringing, your past financial experiences, and even the stories that you tell yourself or the stories that you hear from the people around you shape your beliefs, and thoughts around wealth, worth and success.

Now, these patterns aren’t necessarily bad, but they can silently sabotage your business growth. So let me talk about the four personality types that I see. 

The first one I call the avoider, and this one is particularly common with creatives, healed and heart led entrepreneurs.

Now, I’m not saying this is everyone, but I’ve just noticed this a bit. And the thing with avoiders, they don’t wanna look [00:02:00] at the numbers. I often hear the phrase, “I am just not a numbers person.” Or sometimes the spiritual types say, “I just trust that the universe will provide.” And while I love a good manifestation moment, avoiders often have no idea what is going on with their business finances, and that is not a good thing.

Because they are avoiding looking at their bank accounts. This might show up for you if you miss your BAS deadlines or if you’re guilty of not running your profit and loss reports each month. But here’s the thing with avoiding a problem: when we avoid a problem, it doesn’t magically go away on its own.

In fact, it often becomes a bigger problem. So it can show up for you. You might be an avoider if you do the following: if you are not tracking [00:03:00] your profitability, you are overspending because you’re not actually keeping an eye on your expenses, or if you’re finding that bills show up that were unexpected, you get hit with a tax bill that you weren’t prepared for.

These can all be signs that you are avoiding your finances. So how exactly do you fix this? Well, it starts with getting into the detail of your money. I talk all the time about money meetings. This is dedicated time to sit down and actually focus on your business finances, and I’ve actually created a template for you, which is around the money meeting agenda, the framework that I use to stay across the finances in the business in as little as 15 minutes a week. So if you wanna grab that, [00:04:00] go and check out the link in the show notes for today. It’s called the Money Meeting Agenda. So go and check that one out if you perhaps are finding that you’re an avoider and you know that you need to actually get your hands dirty and go and look at what’s going on with your numbers.

Now, the next money personality type that I see is the hoarder. So the hoarder is people that are terrified of letting go of money. So even when business is booming and there is an excess of cash in the amount, they feel like they can’t afford help.

It’s almost like every expense is a threat to survival. So there might be money in the bank, but there’s this sense of constant anxiety and there’s this deep-lying fear, “What if next month isn’t as good?” So this reminds me, I used to be a bank teller when I was at [00:05:00] university actually, and particularly some of the older customers that used to come in, I’d look at their everyday transaction account that was earning bugger all in interest, and they would have hundreds of thousands of dollars just sitting there earning no interest.

And I’d suggest to them being the good bank teller sales person that I was, “Hey, have you thought about putting this into a high interest account?” And they’re like, “oh, no, no, I need to keep it all there for a rainy day.” So this is something that you might be like in business, you might have an absolute fear of investing in your business.

So here’s some things that I see that hoarders do. Firstly, resist hiring help even when they desperately need support. I see a lot of business owners at a stage where I’m like, “you should so have an assistant by now, or you need to bring someone else into your team to support you,” and they’re just too scared to spend the money.

They refuse to invest proactively in GRU [00:06:00] strategies, so things like coaching, paid ads, or better systems, things that will actually help support the growth of the business in the longer term. And another sign that you might be a hoarder is that you are doing everything on your own because you’re just trying to save every single dollar.

So if this is resonating and you’re thinking, “Okay, this might be me, Clare, but how do I fix it?” I’m not suggesting that you go out tomorrow and blow every dollar that you have saved, but what I do think that you can start doing is starting with some low risk investments that give a high ROI or return on investment.

So for example, hire yourself a virtual assistant for a few hours a week, or buy that budgeting tool that’s gonna show you how you can better get across your cash. Money is meant to circulate, and hoarding it can keep you [00:07:00] stuck at the same level for years.

Alright, let’s talk about the next personality type. This is the complete opposite of the hoarder, and this is the spender. 

So the spender is all about instant gratification. This is the person who loves to buy the course, sign up for another mastermind, or treat themself month after month after month. And often what I see with the spender is that they aren’t being intentional with the spending.

It’s rather than, “okay, I followed this mentor for years. I feel really aligned to their teaching methodology. I feel really confident that now’s the right time to make the decision.” They show up to, like they see someone on Insta, see one post and then go, “I’m gonna go jump in their mastermind,” even though they’re already in another mastermind.

Often they’re operating from a place of, “this might be the [00:08:00] thing that will fix everything,” but they’re not actually really coming and checking in on their financial foundation and seeing, “well, can my sales and my profit actually support this level of spending?” So some of the things that I see with spenders and let me know, maybe this resonates with you.

If you are any of these types, feel free to send me a DM on Insta and let me know and say, “Clare, this really resonated with me.”

But a spender is someone that usually has great revenue, but zero or very little profit. So on paper, it all looks quite glossy, but when you actually dive a bit deeper, there’s actually not really a lot of money left after all the bills are paid.

Another sign of his spend up constantly chasing the next win or feeling though, even though everything on the outside looks glossy, there might be overwhelmed by debt or inconsistent cash flow and actually struggling [00:09:00] to pay the bills.

So how, if you’re a spender, how can you sort of work on this? The big thing that I would say is create a system that balances fund spending with long-term planning. So one of the tips that I have for you, if you’re a spender, if there’s an investment that you wanna make, sleep on it. You are probably a lot more susceptible to those sales pitches where someone’s like, you know, for three hours only, you know those countdown timers, or grab this bonus tonight.

Yes, you might miss out on the bonus, but maybe if you sleep on something, you might find that in the morning with fresh eyes, you’re not so emotionally activated and you can be a bit more logical about the decision.

Something else that can be really helpful for spenders: have a trusted, maybe confidant that you can [00:10:00] bounce your investment decisions off.

So often I have clients who are spenders, they come to me and they’re like, “Hey, I really wanna join this thing.” And I’m like, “dude, you’ve literally got that course for free. Something very similar that you can do through the investment you’ve made with me. You don’t need to buy that program.” Or I gently remind them, “Actually, you haven’t even done the other action, the basic actions to sort out your website. There’s no point trying to drive more traffic to it if your website isn’t even set up for conversion. So let’s get that sorted first.” So having someone to bounce these investment opportunities off who’s outside of it, might be really helpful for you. 

And the last personality type, the money personality type that I also see quite a bit is the martyr.

Now, this personality type is all about putting everyone else first. [00:11:00] They struggle to charge what they’re worth because they don’t wanna be greedy. They often over deliver under charge and then as a result, end up feeling resentful.

So Martyrs might say things like, “I just wanna help people. I’m not in it for the money.” Another thing: “I know my clients can’t afford more, or I know my clients are struggling right now.”

So this can look like chronic underpricing, constant burnout from giving too much, and perhaps difficulty sustaining growth or paying themselves consistently.

So how can you actually start to shift this if you are recognizing, “oh my gosh, I think I might be a martyr.”

Okay. One of the things that you can do is start separating your worth from your price. You can be heart-centered and kind and also run a profitable business. And this is [00:12:00] one of the big things that I talk to my clients and my students about. If you wanna be a heart led entrepreneur, if you wanna make big impact in this world, you have to put your own life jacket on first.

There is no point being a starving artist. You’re not gonna be able to create the reach and growth if you were giving to everyone else from your empty cup.

So let’s get your business build up, ticking along first. And then you can use the excess to help give back and support others.

So here’s the truth: we all have a dominant money personality, but what you might actually notice is that sometimes you’re one, you might even be a few of these, you might alternate between a few of them.

But the thing is you don’t want to judge yourself based on where you’re at at the moment. This process is about recognizing your patterns so that you can start to change them [00:13:00] rather than beating yourself up and being judgmental.

Because the first step in creating change is awareness. And once you’re aware, you can then build new habits and systems that support growth, sustainability, and most importantly, profit.

So to wrap up, I want you to think about which of these personality types most resonates. Maybe there’s a few of them. And then have a think about how is this showing up in your business.

And last but not least, what is the one small action that you can take this week to shift it? If you have had any “AHAs” from today’s episode, I would love if you could share with me, either send me a DM over on Instagram or pop it on your social media and, you know, share your aha around it and what you’re gonna do to fix it.

So [00:14:00] until next time, go out there and make some intentional profit. Have a fabulous week, and I’ll chat to you again next week.

* Transcript created by AI – may contain errors or omissions from original podcast audio