Speaking to a client the other day she told me she couldn’t afford to treat to herself to a spa day, costing around £150, due to having children. They had kids clubs and days out planned, which meant the majority of any ‘spare’ money went on them! Another lady told me she had 3 older children still living with her but they were costing her a fortune in food and that she couldn’t change her mortgage from interest only to repayment because they were still at home. This would mean in 8 years time the mortgage company would expect the debt in full to be repaid; surely her children didn’t want that for her?
It left me thinking that maybe, women are putting their own children’s needs and big wants before their own basic financial requirements before treating themselves? We all know that if you are on an airplane and there was an emergency that you are to put on your own mask before you help another, thus meaning you can help others around you. Many of us don’t seem to do this in life.
Over the 18 years I’ve worked in financial services, I’ve met every kind of client there is and seen most situations there are. Thankfully most are really lovely kind people. Throughout these conversations, I’ve discovered four types of clients. One being the Big Hearted. Generous at heart and with children they spoil them in ways they don’t think they are spoiling but is part of life today. As they grow older those children become more demanding and expect more, maybe not understanding the value of money themselves. Overall they tend to put others needs first and always wanting the best for them. However, for some this kindness is a replacement of genuine affection.
The three other profiles are Bohemian – Collector and Prominence. Would you like to know which profile you are? I’ve created a mini quiz asking a few key questions to see what kind of spender you are, why not give it a go…
Which kind of profile are you? I’d love to hear from you.
Love Rebecca x