Money & Personality The Money Behavior Assessment Dr. James M. Dodson CEO, CBH, Inc.

Money Verified record or unit of payment for goods and services Obsidian (raw material for Stone Age tools) Cereal Grain (served as the basis for the Shekel) Salt (Roman soldiers’ payment) Gold & Silver (most common throughout history)

A Brief History… Anatolian obsidian as early as 12,000 B.C.obsidian Code of Eshnunna (ca BC) and the code of Lipit- Ishtar of Isin (ca BC). [29] Code of EshnunnaLipit- IshtarIsin [29] First manufactured coins arrived between 700 and 500 B.C.

Money A medium of exchange for goods and services Most often is a tangible object Object(s) of rarity in quantity or beauty The more scarce the quantity, the greater the value Beauty is more subjective in worth and is in “the eye of the beholder”

Money Unit of account Denomination Weight Volume Written record

Money Store of Value Silo Purse Mine Vault

Money Intrinsic to Humanity Money is man-made Affected by culture Influenced by individual reasoning Mechanics are rational, personality is variable

Money Monetary Systems are Rational This is an assumption Assumes individuals are rational Personality is moot Logic is revered

Money Individuals are “Irrational” Unique differences influence how logic is applied Personality accounts for unique differences Logic is useful, but sometimes disregarded Some value feeling more than logic

Personality Intervening Variables Create Money Irrationality

Personality Individual Trait Differences Behavioral Patterns Cognition Emotions

Personality Cognition Refers to any manner of thinking Information processing Reasoning and logic

Personality Emotion Referred to as “Affect” A subjective, conscious experience Characterized by psychophysiological expressions, biological reactions, and mental states.

Personality Behavioral Patterns Handedness Initiating/inhibiting movement Adaptation to environment

The Money Behavior Assessment Integration by Derivation

Deriving Money Behavior Assessing Personality Hundreds of personality tests Simplistic to complex Brief to Long

Deriving Money Behavior Myers Briggs Type Indicator Worldwide acceptance Easy to access Decades of research

Deriving Money Behavior Assessing Personality Type Assess cognitive reasoning Assess emotional processing Assess behavior

Deriving Money Behavior Understanding the MBTI Results Introversion vs Extraversion Intuitive vs Sensing Thinking vs Feeling Perceiving vs Judging

Deriving Money Behavior The Main Problem Couples have differing personality types Attraction based on complementarity Attachment breeds conflict

MBA Basics Understanding the Derivation

MBA Basics Describes Money Behavior Accounts for Age Accounts for gender Covers seven areas related to money

MBA Basics Provides Suggestions for Change Gives analogies Provides behavioral strategies Promotes positivity

MBA Basics

MBA Application Applying the Derivation

Applying the MBA Assess Attached Couples Describe personality type differences Explain complementarity of differences Identify common ground and goals

Applying the MBA Identify Points of Conflict Structured or open-ended Line by line or categorical Communication problems

Applying the MBA Formulate Behavioral Strategy Taking turns with approaches Color coding Communication cues

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