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Ever wondered why you don’t have enough money to buy a house? Go on that dream vacation? Retire? Well, it could just be that you’re thinking and acting like a “nice girl.” Dr. Lois Frankel, author of the international bestseller, Nice Girls Don’t Get Rich:75 Avoidable Mistakes Women Make with Money, looks at the ways in which women, acting like the nice little girls they were taught to be in childhood, fail to accumulate the wealth needed to live their lives more fully, free from concerns about money. Frankel focuses on the sometimes silly, often self-defeating behaviors that preclude women from getting their fair share of the world’s wealth. Which personality type most closely reflects your relationship with money?

The Hoarder

“The good news is that hoarders actually save money,” says Frankel, “But they don’t invest it or take the time to build budgets that would help them to enjoy their money. They’re so afraid of becoming bag ladies, they stash away money without thinking about how investing could yield substantially more wealth.” Similarly, they won’t buy things that would allow them to enjoy life a little more because they see it as frivolous or themselves as undeserving. Whatever the reasons, The Hoarder isn’t living a rich life, even if her bank account says that she can.

The Ostrich

The Ostrich would rather not know how much money she has - or doesn’t have. “As long as there are checks in her checkbook she doesn’t even THINK about money,” Frankel explains. She doesn’t keep tabs on bank statements or investments, nor does she take the time to learn about how she could live a richer life by managing her assets better. She often lives paycheck-to-paycheck, content with knowing she has enough to make it through another month.

The Spender

Money burns a hole in the pocket of The Spender. Sometimes it’s money she has and sometimes it’s money she gets from various sources of credit - often putting her into deep debt. “The Spender may be exhibiting compulsive behavior.” Frankel points out, “Psychological help could be needed to assist her with diminishing the compulsive spending.” Although on the surface it appears that The Spender is leading a rich life, when you scratch below she may not have a liquid nickel to her name and be in for a huge change in lifestyle if she loses her job or when she gets ready to retire.

The Abdicator

“At least The Abdicator has the wisdom to get someone to help her manage her money,” says Frankel. “The bad news is that she turns over full responsibility to that person and rarely checks on how her money is doing.” The Abdicator may hire a professional financial advisor or just turn her money over to a spouse or significant other. Once she does, however, she washes her hands of it and expects someone else to look out for her best interests. Once she does look into how her money is doing, it’s often too late - she finds she’s been taken advantage of by either unscrupulous or well-meaning but ineffective advisors.

The Do-Gooder

Money means little to The Do-Gooder other than having enough of it to loan or give away to people in need. She may have learned in childhood that “money can’t make you happy” or think that giving away money makes people like her. In either case, she sees little value in accumulating it. The Do-Gooder often ignores Frankel’s maxim, “You can simultaneously do good and do well.” (591)

About The Author:
To take free money and career inventories visit http://www.drloisfrankel.com

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