The way you think, react to challenges, and approach money management can significantly impact your financial future. You can’t control market fluctuations or economic downturns, but you can cultivate personality traits that make financial success more likely.
General findings across behavioral economics and financial psychology show that certain characteristics correlate strongly with better money management, higher earnings, and greater wealth accumulation over time.
Pro Tip: Start with taking time to educate yourself. If you’ve got more than $100,000 in savings, get some advice from a pro. SmartAsset offers a free service that matches you to a vetted, fiduciary advisor in less than 5 minutes.
1. Conscientiousness
Conscientious people tend to be organized, detail-oriented, and responsible—qualities that translate directly to better financial outcomes. This trait helps you maintain regular budgeting habits, meet payment deadlines, and follow through on financial plans.
Conscientious individuals are more likely to track expenses, research investments thoroughly, and make deliberate rather than impulsive financial decisions.
By creating systems for your finances—regular bill-paying routines, automatic savings transfers, and periodic financial reviews—you can strengthen this trait even if it doesn’t come naturally to you.
Pro Tip: A diligent approach to saving includes automatic deposits and high-interest accounts. For example, SoFi Checking is offering 3.8% interest, plus a potential $300 signup bonus. (May change without notice.)
2. Patience
