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Top dog or bear with a sore head - which financial animal are you?
5th March 2008
Callcredit introduces six new profiles to help consumers better understand their financial situation
With constant speculation around the impact of the credit crunch and growing consumer financial concerns, Callcredit has teamed with psychologist Professor Adrian Furnham of University College London to develop 'financial personality' classifications. The six categories aim to give consumers an insight into how their individual character traits affect their attitude to finance.
Whether you're a Magpie who is addicted to the 'quick hit' of credit; an Ostrich who buries their head in the sand and ignores their financial situation; a Squirrel who takes pride in saving money where it can; a Cheetah who takes a ruthless approach to finances; a Bear who saves one month then splurges on luxuries the next; or a Dog who is less inclined to switch from lender to lender, Callcredit is on hand to help consumers get a better understanding of their financial situation.
According to recent research by Callcredit, it was revealed that a staggering 16% of all adults are unable to say how much they owe.
Owen Roberts, Head of Callcredit Consumer commented: "A worrying percentage of the population is unable to manage their debt levels effectively, so this exciting piece of psychological research is a positive step in the right direction to help consumers understand their financial standing and take more responsibility for their money.
The six animal personality types are designed to help consumers define their financial personality and learn which traits they need to tackle to take control of their money situation."
Adrian Furnham, Professor of Psychology at UCL commented: "I have done substantial research into people's financial habits and recognise the fact that a wide range of consumers are consciously unaware of their attitudes towards finances. I am a strong believer that if people understand the situation they're in, they are far more likely to tackle it. By coming up with a simple, yet effective categorisation of financial types and referring them to a concept that people can relate to, consumers are more likely to approach their finances head-on and get on top of their money worries."
