I am interested in knowing if there is a relationship between introversion/extroversion and saving money. I’m curious about this because out of all of my close friends, it would appear that I am better at saving my money consistently. I am also more introverted. I often get asked about money and some people are amazed at how much I am able to save every month. Conversely I am amazed at how much they are NOT saving every month, even if it’s just five dollars here and there. Perhaps people in their early- to mid-20′s are generally terrible savers. But I digress.
There seems to be a stereotype that extroverts are better at making money because they are more social and live out in the world rather than in their mind. So it would be natural to assume that introverts are more responsible and better at saving because they are not out being the life of the party. Of course this must have some grain of truth to it. But are these assumptions fair?
You can have an extrovert who loves being around people but he (or she) is a real cheapskate. You can have an introvert who enjoys “me time” exploring some very expensive hobbies.
Let’s assume that the stereotypes are true (even if they’re not). Maybe we need to practice a little yin and yang here. When it comes to saving, extroverts need a little introversion in them; introverts need a little extroversion. Maybe when the economy was going great we were too much like extroverts, spending every cent we got and then some. Now we are too much like introverts, hogging every cent we get and being too responsible. (Is there a such thing as being too responsible?)
Regardless, wouldn’t you agree that neither extreme is good… even on an individual level?
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