My friend Demetria Gallegos writes for the Wall Street Journal. The Denver Post just started carrying her column The Juggle where they put “the personal in personal finance”. The first article to appear in yesterday ‘s Post When Spending Styles Clash, There's a Cost really hit home for me. Demetria writes about her husband who is the saver, and she is the “spender, who thinks it’s okay to loosen up now and then and indulge”. I would say my husband and I have those same roles in our marriage.
The saver and the spender are easy to identify, but according to Brent Kessel, there are 8 Financial Archetypes. These archetypes are explained as “energies within us” in his book “It’s Not about the Money”. He has an online quiz which I took and recommend. When I read the book I could easily see that I was a "Pleasure Seeker" but it was nice to learn from the quiz that I have other, what I consider more balanced, archetypes in the mix. Good to know I am not just about the spending. The "Empire Builder" is one of the 8 archetypes and seems to be to be particularly relevant to the entrepreneurial personality. Check it out and see if you agree.
Deep seated values and underlying attitudes towards money have alway been relevant topics for marriage I know I am also stating the obvious that money plays a role in starting entrepreneurial ventures. It seems to me that when you and your spouse are involved in an entrepreneurial venture money becomes all the more intense and personal. There are a ton of financial decision points - when can the entrepreneur quit their day job, how much of the family’s money will go to support the business, should you ask friends and family to contribute to your cause (the family angels), how do the dynamics change when you do have money, are you doing this for the money or for the experience.
“Entrepreneurs are risk takers, willing to roll the dice with their money or reputation on the line in support of an idea or enterprise. They willingly assume responsibility for the success or failure of a venture and are answerable for all its facets.”
-Victor Kiam, owner of Remington Products
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