In today’s world, understanding your personality, strengths, and weaknesses when it comes to money can be one of the most powerful tools to help you improve your finances
It probably won’t comes as much of a surprise to learn that your relationship with money is decided in early childhood, but that doesn’t mean that you can’t make your ‘money personality’ work for you no matter how old you are.
Understanding where you sit in the E-Colours Framework – a model that categorises individuals into four distinct personality styles based on their behavioural patterns, motivations and ways of interacting with the world – could help you get out of debt, live more comfortably or increase your financial wealth.
In an exclusive chat with The Mirror, Mark Wilkinson and Paul Grant, co-authors of Money Remixed, the 14-step guide to a Wealthy Mindset, take a closer look at each personality colour, their strengths and potential limiters, and how to manage these traits to build a successful financial future.
Understanding the four dominant personality styles:
The E-Colours program classifies personalities into four primary styles: Red, Blue, Green, and Yellow. Each colour represents a different approach to money, life, work, and relationships.
Red (Doers): Reds are typically results-oriented, assertive, and driven by action. They are often seen as doers and are motivated by achieving goals, overcoming challenges, and making decisions quickly.
Green (Thinkers): Greens are analytical, detail-oriented, and value structure. They are careful planners who thrive on accuracy, consistency, and a logical approach to problem-solving.
Blue (Relaters): Blues are empathetic, supportive, and relationship focused. They value harmony and cooperation, and they tend to be good listeners who prioritize maintaining peace in their interactions.
Yellow (Socialisers): Yellows are creative, spontaneous, and enthusiastic. They enjoy new ideas and innovative solutions, and they often bring a positive, energy-filled attitude to any situation.
We have all four E-Colour styles within us, however it’s often the more dominant style(s) that show your natural reaction to situations. Each personality style brings its own set of strengths and potential limiters, which can have a significant impact on your financial success. However you might identify, the good news is that all personality styles can be, in their own way, good with money, as all bring their own strengths.
If you’re a red personality:
Strengths:
Reds are natural doers. They like to take charge of financial opportunities, whether it’s in business, investments, or entrepreneurial ventures. They can make bold, decisive moves and are comfortable taking calculated risks. Their high energy and drive ensure that they follow through with their financial goals, often pushing themselves to exceed expectations. Reds are results-oriented, meaning they are often focused on tangible outcomes, making them great at setting and achieving financial targets.
Potential limiters:
One potential limiter of Reds is their tendency to be overly impatient. This can lead to hasty decisions without fully considering all aspects of a financial situation. Reds may also struggle with details, which can result in missed opportunities or financial missteps that could have been avoided with careful planning. Their strong desire to take risks can lead to overleveraging or investing in high-risk ventures without properly assessing the potential downsides.
Managing for growth:
To grow financial wealth, Reds should focus on building a support system of trusted confidants who can help with the details and provide a more cautious perspective. They should try to slow down and thoroughly evaluate financial opportunities before jumping in. While they are naturally inclined toward action, balancing this with strategic planning will minimise impulsive decisions. Setting clear, long-term financial goals and breaking them down into actionable steps, since they are motivated to achieve tasks, will keep them focused on achieving wealth without burning out or taking unnecessary risks.
If you’re a green personality:
Strength:
Greens excel at analysing complex situations and making well-informed decisions. Their attention to detail and commitment to accuracy make them particularly adept at managing finances, especially when it comes to budgeting, forecasting, and investing. They are cautious and diligent, which helps them avoid impulsive financial moves that could lead to significant losses. Their methodical approach ensures that they assess financial risks carefully, making them skilled in areas such as financial planning, tax strategies, and risk management.
Potential limiters:
Greens may struggle with acting due to their tendency to overanalyse situations. This can result in “paralysis by analysis,” where they delay decisions or miss opportunities while seeking the perfect solution. They may also become too focused on the details, losing sight of the bigger picture and failing to take advantage of broader financial opportunities. Their risk aversion can limit them from pursuing higher-return investments or stepping outside their comfort zone, potentially leading to missed opportunities for growth.
Managing for Growth:
Greens should work on balancing their need for detailed analysis with the ability to make timely decisions. Setting a deadline for making financial decisions can help prevent overthinking and enable them to move forward with confidence. To avoid getting bogged down in details, Greens can learn to prioritise key financial factors and delegate less important tasks to others. Greens can also benefit from stepping out of their comfort zone occasionally and embracing calculated risks. Working with a mentor who encourages a broader perspective on money can help them see opportunities they might otherwise miss.
If you’re a blue personality:
Strengths:
Blues are deeply empathetic and people-oriented, which can help them build strong, trusting relationships with clients, colleagues, and business partners. These relationships can open doors to financial opportunities and partnerships that may not be available to others. Their collaborative approach makes them excellent at working in teams, and they often excel in roles that require negotiation, conflict resolution, and maintaining harmony in business environments. Blues value stability and are typically careful with their finances, which helps them avoid reckless financial decisions.
Potential limiters:
Blues may be hesitant to take bold financial actions, particularly if they involve conflict or confrontation. This can result in missed opportunities, particularly in high-stakes business decisions, investment opportunities, or negotiations. They can become overly concerned with the needs of others, leading them to underprice their services or neglect their own financial goals in favour of supporting others. Their desire to avoid conflict can prevent them from making necessary financial decisions that may upset others, such as raising prices, negotiating terms, or making difficult investment choices.
Managing for growth:
Blues can grow their financial wealth by developing stronger assertiveness skills and learning to set boundaries. By recognising that financial success often requires difficult decisions and negotiations, they can take steps to push themselves outside of their comfort zones. They should focus on creating clear financial goals that align with their personal values and ensure that they prioritise their own financial needs alongside those of others. Blues can also benefit from partnering with more assertive individuals, such as Reds or Yellows, who can help drive financial decisions and challenge them to take calculated risks.
If you’re a yellow personality:
Strengths:
Yellows are highly creative and innovative, which can lead to unique financial opportunities. They often think outside the box and are open to unconventional strategies that others might not consider. Their enthusiasm and positive energy can inspire others, making them great networkers and communicators who can attract financial backing, partnerships, and opportunities. Yellows are generally risk-tolerant, which allows them to seize new opportunities and venture into emerging markets or innovative investments.
Potential limiters:
Yellows can sometimes be overly optimistic, which may cause them to overlook potential risks or fail to follow through on important financial details. Their spontaneous nature may lead to impulsive decisions, resulting in financial missteps or missed opportunities for careful planning. Yellows may struggle with consistency and follow-through, which can hinder long-term wealth-building efforts that require patience and persistence.
Managing for growth:
Yellows can manage their financial growth by implementing systems that help them stay organised and focused on long-term goals. Tools such as financial planners, budgeting apps, and goal-tracking software can help them maintain their enthusiasm while staying on track. They should learn to temper their optimism with realistic assessments of risk and reward and avoid making rash financial decisions without proper research. Yellows can also benefit from partnering with more detail-oriented individuals (such as Greens) who can help keep their financial strategies grounded and ensure they follow through with their commitments.
Mark Wilkinson and Paul Grant are co-authors of Money Remixed, the 14-step guide to a Wealthy Mindset, out now.
