Colors & Money Series: Blue$ (Part 1 of 4)

In this four-part series, we’ll go through some common and basic insights into each Colors’ typical view of money – both the spending and investing parts. Do remember that we’re not only one Color: We’re a combination of all four that can shape and impact our actions, strengths and stresses, as well as our behavior with money!

Sure, money makes the world go around. But it’s not the primary motivator for Blues. Not in choosing their careers or what they’re willing to do (or give up) to have more of it. Spending on themselves will normally take a backseat to buying things for others, donating to a cause, helping a friend, or little gifts for the eight cousins and nephews just to be able to see their smiles and excitement. Small wonder they’re often the favorite relatives. To Blues, giving is receiving.

Blues can be suckers for a cause, or stories of why someone needs help. From donations to covering a restaurant tab to letting a roommate pay a little less than half this month, Blues look more at what their money can do and that they’re blessed enough to have it in order to help. Yes, they want to be debt free and make savings a priority, but there’s always just one more obstacle in the way. Maybe they’re daydreaming about their next perfect vacation, but if a close friend has a destination wedding, that’ll become a priority and their own ideas will go on the (maybe) next year list. Besides, the perfect vacation or night out isn’t the place or the restaurant – it’s who they get to share it with. It really is the journey as much as the destination.

When it comes to investments, savings are easier if someone “makes them” do it. That way, they can say no and set boundaries to other spending without taking the blame. Finding a place to invest is quite hard for Blues. They don’t really care how much someone knows until they know how much they care. They will listen to a person (not a business…you cannot form a relationship with a business) that their intuition trusts. It’s not about the degrees on the wall but the personal relationship – and that’s hard to find. Someone who understands how savings can help others they care about, that treats them more as a friend than a client, and makes them feel OK to call for questions or help.

And one more tip when you, as a Blue, get that feeling of being taken advantage of: You bank balance is shrinking while your credit card is growing and it’s stressing you out feeling there’s no way out. Wrong! Saying no is super hard, but this spiral will continue and you know it. You’re in quicksand and it’s getting worse! You can still be included, still go out with your friends, to dinner with family or whatever, but tell them the “great” news UP FRONT: My credit and debit card are on a three-month time out. All I have is $40 (or whatever) cash on me…so let’s go, but when I’m out of money I’m out of there. You’ve set the rules up front and won’t be the one buying one more this or covering someone’s tab. Win-win: Nobody will blame you, you told them up front, you still get to go, your card balance will shrink and your checking account will re-grow! Take whatever you reasonably need for the week in cash. When you’re out of money – you’re done spending!

If you’re in Canada: With over 540 tips, tricks & insights on everything financial, my $20 Money Tools & Rules (Canadian) book (yourmoneybook.com) will easily give you 100 times that in savings in an hour of flipping through it. Amazon Canada search George Boelcke or Money Tools & Rules

or:

Etransfer $19.95 if you want to save tax & shipping and/or have it signed: george@vantageseminars.com

If you’re in the US: Sorry, the Fighting Back! (US) book is out of print since last year. 50-50 there’ll be a new book by next year…