How Understanding Your Enneagram Type Can Help You Spend and Invest Wisely

How It All Started

When I was first introduced to Enneagram by my now sister-in-law while on a road trip to Florida, I thought I was going to be set up for a grueling road trip bound to listen to endless hours of personality types. But, to my surprise (happy surprise, I should say), it opened my eyes to many perspectives about myself and those closest to me. Just as it has benefited me in understanding myself and those around me, I thought discussing each personality type and its influence on spending habits would also be useful! Before we get too far though, if you have yet to take your assessment, I’d suggest doing so prior to reading the rest of the article! Especially if you are a Type One.

Most people associate the Enneagram with a system of personality profiling that helps you understand why people behave in certain ways. These habits can influence everything from how we relate to others to how we handle our money. For those that do not know, the Enneagram identifies Nine distinct personality types, each with its own set of motivations, fears, desires, and goals. Basically, it unveils a lot about yourself. After learning about yourself from the Enneagram, it sheds light on why you might have made certain decisions in the past.

I will end up doing a series on all Nine traits, but in this post, we will focus on the Type One personality, which is also known as “the perfectionist” or “the reformer.” We will explore what makes this personality tick and how it could impact their spending habits. This insight into the Type One personality will help those who want to adopt a more conscious approach to their spending and investing habits.

Type One

Type One on the Enneagram is known for their innate need for order and perfection (if you are a One, I can see you smiling because you know it’s true). They’re highly organized, dependable, dedicated, and hardworking individuals who strive for excellence in everything that they do (go ahead, pat yourself on the back). They have a strict moral code and often hold themselves and others to very high standards. Type Ones believe that the world needs to be a more just, fair, and equitable place, and they’re often critical of others who fall short of these ideals.

This strict moral code can have a significant impact on how Type Ones approach money. They’re likely to have a strict budget and financial plan in place and strive to stick to it. However, they may also have high expectations for their investments, leading them to put undue pressure on themselves.

Type Ones are also likely to spend money selectively, ensuring they only invest in products that match their ethical standards. For example, they may prefer to invest in eco-friendly products or to support local, independent stores. They may also be more likely to research products thoroughly before making a purchase, ensuring that they’re getting the best deal or product possible.

However, it’s worth noting that this focus on perfection can also lead Type Ones to be somewhat rigid in their approach to finances. They may find it difficult to adapt to changing market conditions or to consider new, innovative investment strategies and products. As a result, they may miss out on investment opportunities or hitch their wagon to failing stocks out of fear of making mistakes.

One way that Type Ones can positively influence their spending and investing habits is by taking a step back and practicing being more flexible and open-minded. They could work on letting go of the desire for perfection and embracing the idea of learning from mistakes. This could allow them to approach investing with greater confidence and a more open mindset, which could lead to fruitful investments. It is also worth considering working with a financial advisor who can provide customized, objective advice tailored to their financial objectives.

By adopting a more flexible mindset, Type Ones can harness their inherent drive and meticulous nature to their advantage while investing. This shift in perspective allows them to see failure not as a setback but as an opportunity to learn and grow. Instead of sticking strictly to their pre-planned financial roadmap, they could benefit from being open to exploring various investment avenues. This might include considering alternative investment strategies, such as investing in start-ups, cryptocurrency, real estate, or socially responsible investments, which might align with their ethical standards.

Furthermore, working with a financial advisor could prove to be highly beneficial for Type Ones. A financial advisor could provide an objective perspective, helping to manage the high expectations and perfectionism that often characterizes Type Ones. They can introduce diverse investment options, provide balanced advice on risk management, and help formulate a financial plan that aligns with both the financial goals and ethical considerations of Type Ones. This collaboration could provide Type Ones with a sense of security, knowing that their financial decisions are well-informed and strategically sound.

“In the long run, we shape our lives, and we shape ourselves. The process never ends until we die. And the choices we make are ultimately our own responsibility.” — Eleanor Roosevelt

Looking Ahead

Incase you didn’t know, Eleanor Roosevelt was considered a Type One on the Enneagram chart. Although the Enneagram and any other personality test is not the ultimate truth on who we are, it is a healthy way to better understand who we are as people and why we do what we do. Understanding your Enneagram type can provide useful insights into your spending and investing habits. You may even be able look back at prior experiences and have a better understanding of why you behaved or acted the way you did. Since Type Ones are known for their innate need for order and perfection, it can impact how they approach finances. By taking a step back, practicing being more flexible and open-minded, and working with a financial advisor, Type Ones can positively influence their spending and investing habits. Understanding one’s Enneagram type, particularly Type One, can bring a wealth of insights into one’s spending and investing habits. By recognizing and addressing their type, Type Ones can transform their financial management approach, resulting in more effective and fulfilling investment practices. Until next week, when we dive into the Type Two (The Helper) personality trait.

This is not financial advice. For educational purposes only. Before making any financial decisions, consult with a professional.