At Patrick T. Sheehan & Associates we represent individuals and businesses before the IRS (Internal Revenue Service) & IDR (Illinois Department of Revenue) to successfully resolve their tax problems. With our company we do not only resolve our clients issues but also try and recommend better financial practices for the future. There is a great article from Entrepreneur Magazine that defines five major “financial personalities” which outline their tendencies as well as great tips for moving forward. The personalities are defined as follows:
Green: Typical entrepreneur; believes money should be invested, wants to grow businesses
Blue: Good employee or financial manager; keeps budgets, doesn’t take financial risks
Yellow: Embodies the work-hard, play-hard mentality; emotional spender, buys luxury items to reward him or herself
Gray: Generally content, doesn’t aspire for great wealth; the best investor because of patience
Red: Doesn’t handle money in a realistic way; in debt and without a plan to pay it off
Understanding your financial characteristics can help you make more informed decisions. To find out the strengths and weaknesses of your financial personality check out the full article on Entrepreneur.com.