Financial archetype #3 is the idealist. Idealists are against money and instead place great value on creativity, compassion, social justice and spiritual growth. They often will have a physical negative reaction to their thoughts about money, which contributes to an unbalanced and unsatisfying financial life. Idealists tend to be very intense about their vocation, cause, or spiritual path but can become confused about their financial needs and current financial condition. This confusion often causes them to hold jobs that they dislike, which in turn forces them to stress about money rather than devote time to their chosen field. Their mindset is often that money itself is the problem rather than how they relate to money.

Often Idealists:

• Primary vocation is artist, musician, entertainer, or nonprofit.
• Dont earn enough to file a tax return or choose not to file.
• Rely on others for much of their financial support.
• Invest in primarily small businesses, individual pieces of real estate or art or music collections.

• Distrust Wall Street, big business and the established financial system.

Many idealists have often taken a vow of poverty (though maybe unknowingly), which is very hard for them to break. Their views can be backed by some logic based on historic happenings such as wars, destruction and misery caused by the desire for material gain. They feel at home with the poor and will often feel disloyal and like a hypocrite if they begin to earn money. Their unsettling feelings cause them to deal with money in unbalanced ways. These include: Just dont spend anything, Pretend it doesnt exist, or Dont hold on to it.

For some idealists, the focus on doing what they love and believe in may lead to a life of abundance (the fame or recognition that they want for their work leads to wealth) but it is not something that they plan for. When this happens they still feel unsettled in their ability to handle their finances. Many idealists use their passions to hide from their insecurities about their own ability to succeed in the world, or about their dependency on others.

The positives of being an idealist include feelings of freedom and happiness. Until reality sets in (often times when they have children or the government will no longer fund their work) they feel free to focus on their passion/s. They may create great art, be effective activists, or be religious or spiritual students or teachers.

The idealist archetype may seem so ingrained in ones personality that it is impossible to change, but it isnt. If one uses that same focus and intensity they can be successful at changing their mindset about money and finance.

Things to try

1. Look deeply into the roots of your beliefs and feelings. This will show you that money isnt the monster that you made it out to be and that you could probably be more effective if your own finances were in order.
2. Hire a bookkeeper or barter with someone to get help. This allows them to take care of your blind spots to improve your finances.
3. Hire a bookkeeper and automate your finances as much as possible so that you have more time to focus on your passions while still building your financial house.
4. Create an emergency fund. Aim for at least 3-6 times your monthly living expenses (3 if you get a regular paycheck or 6 if your income is irregular).
5. Create an investment plan with a trusted professional advisor and then stick to the plan. Incorporate your values into your plan systematically rather than impulsively.
6. Automate your savings and investments as much as possible (at bare minimum automatically transfer a predetermined amount into a retirement account each month).
7. Consult an insurance professional to help you get your risks and needs assessed and protect yourself with at least the lowest levels of insurance.
8. When it comes to taxes, dont do anything illegal but pay as little as you possibly can. Hire someone to do your taxes for you, but file and pay your taxes.
9. Have a will or estate plan set up, regardless of how much money you have. Without it the state will decide who takes care of and gets what, plus your heirs will have to wait longer and pay more before they receive the assets you want them to inherit.
10. Plan ahead of time what you want at least half of your giving to go towards (in life) and give. Use the remaining half for unplanned gifts. At the same time, dont give more than you can afford.

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