Nov 162015

Exploring the Myers-Briggs Type Indicator in Personal Finance


Table of Contents: 

The importance of knowing your type
How personality affects your financial habits
How rare is your personality?
Most common types for Personal Finance Bloggers
How personality affects your income and career
In Closing and Sources


Intro to the Myers-Briggs personality test

In order to master our finances, we have to develop a solid understanding of our personalities. The way we think dictates how we save, how we spend, and how we manage our money in general. Our temperaments can also affect our income earning potential. With a little self-discovery we can discover our financial strengths and weaknesses so we can focus on the skills and actions that we naturally excel at. 😉

One popular personality test is the Myers-Briggs Type Indicator (MBTI.) Through a series of short questions, the MBTI measures our affinity towards four pairs of personality traits. The result is a 4 trait combination, one trait from each pair, that gives us some insight on how we think and perceive the world. Here is an explanation of each pair of traits.

Myers-Briggs Personality Traits

Extraversion (E)
-People's person
-Feel comfortable and enjoy working in groups
-Sometimes jump too quickly into an activity without thinking
Introversion (I)
-Reflective and somewhat reserved
-Feel comfortable and like doing things alone
-Prefer to know just a few people well
-Sometimes spend too much time thinking, and not take action quickly enough
Sensing (S)
-Remembers details based on facts and physical reality
-Works through facts to understand problems
-Pragmatic and looks at the bottom line
-Start with facts to form a larger picture
-Trusts experience over words and symbols
Intuition (N)
-Remembers events by reading between the lines to find their meaning.
-Leaps between different ideas and possibilities to solve problems
-Focuses on the big picture first before finding out the detailed facts
-Trusts impressions and metaphors more than actual experiences
Thinking (T)
-Logical, calculated, not emotional
-Notices inconsistencies
-Looks for logical explanations or solutions to problems
-Sometimes seen by others as too task-oriented, uncaring, or indifferent
Feeling (F)
-People or communications oriented
-Concerned with harmony and care about what other people think is important
-compassionate, make decisions with the heart
-Sometimes seen by others as too idealistic, indirect, or mushy
Judging (J)
-Prefers to have things planned out in advance
-Likes to be task oriented
-Likes to make lists of things to do
-Likes to get work done before playing

(note: Judging has nothing to do with being judgemental in this context.)
Perceiving (P)
-Prefers to go with the flow
-Likes to keep opportunities open to respond to new circumstances
-Appears to be loose and casual
-Keeps planning to a minimum
-Works in bursts of energy
-Tends to rush projects at the last minute

Each pair of traits is a spectrum because personality is not binary. For example, nobody is purely introverted or extroverted. The resulting trait is whichever one the person has a stronger tendency towards. So if someone’s temperament reflects Introversion, Sensing, Thinking, and Judging, then his MBTI personality type would be ISTJ for short. There are 16 possible outcomes for the Myer’s-Briggs personality test.


If you don’t know your personality type you can take a free test here.


Why It’s Important to Know your MBTI

Increasing our financial self-awareness strengthens our relationship with money, so we can prioritize what’s important to us. For example, there are two primary ways to save more money for retirement. ENTJs are better at increasing their incomes, while ISTJs tend to have an easier time cutting back on spending and being frugal. Understanding our natural tendencies lets us choose financial management strategies that suit our needs. 😉 Once we know our 4-letter personality type we can do a lot of practical and useful things with it, including the following.

  • Discover new career opportunities or side hustles to make more money.
  • Narrow down which financial experts or famous investors to follow based on how similar their personalities are to our own.
  • Better understand where gender stereotypes in society comes from.
  • Find personal finance bloggers that think like us and learn vicariously through their stories and experiences.



What your Personality says about your Financial Habits

The 16 MBTI types can be grouped into 4 general personality categories. This gives a broad overview of how the personality types can affect someone’s financial behavior.

  • Protectors (SJ)

    These people all have the Sensing and Judging (SJ) traits. They are known as protectors because those who fall into this category are more financially conservative and want to protect their principal investment regardless of opportunity costs. They see wealth preservation as the main priority. Most protectors make average income or higher. As natural planners, they are good at saving for emergencies and for retirement, but sometimes have trouble accepting some calculated risk with their investments. Protectors generally have high savings rates to make up for their conservative risk tolerance on their portfolios.

  • Creators (SP)

    Sometimes also called players, creators like to live in the moment because they are Sensing and Perceiving (SP.) They like to work hard and play hard. Many creators are entrepreneurs and they tend to take bigger risks with their money than other groups.

  • Intellectuals (NT) 

    Intellectuals embody the traits Intuition and Thinking (NT.) Also known as planners, intellectuals like to look at the big picture and plan for the future. They are willing to accept thought-out risks in order to achieve their long term financial goals. Similar to protectors, intellectuals are avid savers. But sometimes they focus so much on the future that they miss out on short-term opportunities to splurge or have fun in the present.

  • Visionaries (NF)

    This group of people tend to be emotional around money. They possess the Intuition and Feeling (NF) traits. Visionaries view lending money to or borrowing money from friends and family members as a very personal matter. They often see money as an extension of who they are. Most visionaries earn average income or lower. Their spending habit revolves more around emotions, relationships, compassion, and ideas, rather than strict pragmatism.



How Rare is your MBTI Personality Type

Most people are Sensing so they prefer to deal with detailed facts and physical reality rather than big-picture ideas and abstractions. Men tend to be slightly more aligned towards introversion while women lean slightly towards extroversion.


Almost 1 out of 5 females in the world are ISFJs. This supports the studies that claim women tend to be more risk-averse than men when they invest. Meanwhile INTJs and ENTJs are the rarest personality types among females. More than half of all females identify with the traits Sensing and Feeling (SF.) This combination lends itself very favorably to working in careers that require a sympathetic approach to people. They are commonly found in the clergy, teaching, health care, child care, sales and office administration work, and personal services.

2 out of 5 males are Introverted Sensors (IS.) They are good at remembering stored memories of previous sensory experiences. This allows them to carry out tasks such as quality assurance because they can compare new products with memories of existing products. Introverted Sensors tend to be good at remembering details. They can easily recall specific things they are interested in, such as names of actors or football players, numbers, percentages, specifications, stock prices, and sports scores.



What Personality Types are Personal Finance Bloggers?

With so many PF blogs out there it’s not always easy to find compatible bloggers who we can relate with. I cover stocks and the financial markets. But what about readers who want to learn about lower risk investment options, or how to get out of debt?

Well earlier this year I surveyed over 100 bloggers to find out about their Myers-Briggs personality types. :) The data has been compiled in the following graph.


Discover which PF bloggers have the same personality traits as you, so you can narrow down which blogs might be more relatable to you.🌟

For a detailed explanation of each personality type, please see the “MBTI Personality Types for PF Bloggerstable below. The types are numbered to make them easier to find. They are roughly placed in order from most common to least common in the blogging community.

1 INTJ the strategist15-11-myer-briggs-personalty-types
2 ENTJ the chief
3 ISTJ the examiner
4 ESTJ the overseer

5 INFJ the confidant
6 ISFJ the defender
7 ENFJ the mentor
8 ENFP the advocate

9 ESFJ the supporter
10 INTP the engineer
11 ENTP the originator
12 INFP the dreamer
13 ISFP the artist
14 ISTP the craftsman
15 ESFP the entertainer
16 ESTP the persuader

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Jun 222015

“It is not the strongest or the most intelligent who will survive but those who can best manage change.”― Leon C. Megginson

Change is inevitable, unless the vending machine is broken. 😀 When things don’t go quite the way we want them to it’s tempting to want to change the system. But it’s often more favorable to just change ourselves than the circumstances.

If we don’t like our surroundings or the people around us, it’s usually easier to change our habits, or our mindsets to adapt to the environment around us, than it is to convince the rest of the world that they should change.


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Mar 022015

I don’t know how much the world will change 5 years from now. After all, I don’t have 2020 vision. 😀

The future is always uncertain. But we can increase our probability for financial success by learning a wide variety of financial knowledge to become a well rounded investor. Being really knowledgeable or talented in one particular skill can also be useful in life. Many professionals rely on their unique trades to earn a living. However when it comes to managing our money I think studying a wider range of topics is more beneficial because money affects almost all aspects of our lives.


Novice investors are often taught that a diversified nest egg will minimize risk. There is nothing wrong with this advice. But before we can diversify our investment funds we should probably diversify our investment knowledge. Everybody knows how to invest in index funds, but understanding how they work will allow us to actually decide if they’re the right investments for us, which is way more important. 😉

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Jan 262015
15-01-dream-of-the-futureRich people dream of the future. They prioritize setting goals and planning ahead. Meanwhile the poor and middle class often dwell on the past, which holds them back and prevents them from being happy and productive. The wealthy are financially successful because they spend more time thinking about their future than their past. They believe their circumstances are not a matter of chance, but a matter of choice. Their future is not something they wait for. It’s something they plan for. :)
We can’t turn back time or change the past, but we can all fight for a better future. Our past provides the foundation for our future, and our present defines what kind of future we want to build on that foundation. Every waking moment in the present is an opportunity for us to make better decisions that will help our future selves. Wallowing in regret or past mistakes will not help us in this respect. Whenever we become woeful we should try to acknowledge our emotional state, and then ultimately realize that our despairs or recollections about what happened in the past are simply ephemeral memories.
The past can be useful, but only if we learn from it. If we failed a driving test, told an inappropriate joke, or didn’t get that promotion we wanted, we should absolutely think back and learn from our experiences, but more importantly strive to do better in the future. Instead of puzzling over what we could have done differently, we should instead be asking how can we do better next time. This shifts the focus from the past – a fleeting memory – to the future, where we’ll actually have an opportunity to do something about it.

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Jan 082015

Professional football players are able to make oodles of money because they always have a goal in mind. 😀 But only 65% of Canadians feel confident they will achieve their financial goals in 2015, according to a recent CIBC poll. This is down from 76% in 2014. It appears we’re entering the New Year with a less optimistic financial outlook than last. Nevertheless it is still important to set those goals.


When we have goals to guide us, we’re happier and achieve more than we would without having them. It’s a psychological thing. :) But it’s not always easy to come up with goals for yourself. That’s why I have asked some other personal finance enthusiasts from around the web to share their goals for the New Year and I have compiled the list below. So if you are having trouble coming up with your own goals, here are some ideas to consider. My own goals are listed at the bottom.

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