Emergenetics Associate

Featured Guest Blogger | Emergenetics Associate Heather Wherry of Lincoln Financial Group

With tax day around the corner- it’s Tuesday, April 15th in case you’re unaware– we were curious about how Emergenetics translates to into money management strategies. Emergenetics Associate Heather Wherry, Professional Development Lead at Lincoln Financial Group, explores how each Emergenetics Attribute might approach money management.

I was always amazed at how my dad could rattle off a few numbers and be within $50 of knowing his exact account balance.  One day, I asked him where he kept all of his records (because to the best of my knowledge, my mom managed the checkbook).  He pointed to his head and stated, “Right here.  It’s all up here.”

Did I make some of you cringe?  I certainly cringed when my father told me his “way” of “managing money” – it did not make sense.  Where was everything I was taught?  Where was the check register, the calculator, the pen, the paper…again, it did not make sense.  However, it made sense to him – and that is what mattered.

Regardless of our profile, we all have to manage money.  And actually, the outcome is generally the same for everyone: pay the bills; place some in savings, budget for an expenditure, etc.  The difference lies in how the process is managed.Money Management

My profile is: Green-Red-Yellow 313 – so, my “committee” tends to consistently be “in session”.  My committee is in session about many different things on a day-to-day basis.  I have to choose where I place my energy (Structure? Details? Big picture? People?).

When it comes to my personal preference about money management, my energy is placed more in seeing the big picture, and less in the details (unless absolutely necessary).  To be quite honest, my Social Preference (my MPA) combined with 3/3 Flexibility and 1/3 Assertiveness, prefers to let others take the reins.

I know many of you reading this blog are shaking your heads and thinking, “you crazy woman, why do you prefer someone else to manage your money?”  Honestly, I “manage” my own money…in my head.  Just like dad.  I rely on my spouse to track the data and dig into the details.  Just like how my dad relied on my mom.  What I learned about the data, the analysis, was not in line with my preferences.  I needed to figure out my own way.

So, what does this mean with regard to Emergenetics?  Each person has their own way of managing money – depending on their preferred attributes and behaviors.  We all take a different journey to end up at the same destination.

Preferences and Money Management

Analytical: Efficiency and Data
Those who have a preference in blue most likely enjoy compiling the data and providing facts.  They will manage their money very logically and rationally.  Researchers at heart, they can typically provide information about each expenditure with the necessary data to back up their spending decisions.

Structural: Spreadsheets and Detail
Our colleagues who have a preference in green will most likely have either a spreadsheet or other application to manage their money.  This attribute knows where every penny goes, when each bill is due, and when paychecks and other monies will be deposited.  They enjoy the details and will stay on track with their money management.

Social: The Giver
Those who have a preference in red tend to place the people before the technical side of money management.  They will provide personal stories as to how they manage their money.  It is likely that they receive at least three “asks” per month from various charity campaigns. There will be times they will have to say “no”, which will likely make them feel badly.

Conceptual: Creativity and Vision
The people who have a preference in yellow will devise unique and creative ways of managing their money.  They will rely on the big picture to help make decisions.  Since they tend to think “outside of the box” they may seem a bit disorganized.  However, they will use their intuition to get to the rationale of their approach.

Expressiveness
Those who are at the quiet end of the expressiveness spectrum are not as apt to openly share their money management techniques.  The opposite end of the spectrum may not only share their techniques, but also seek out others for advice.

Assertiveness
Money is often the source of tension in many people’s lives. Those who prefer the peacekeeping end of the assertiveness spectrum will tend to not express their needs or feelings when a financial conflict arises. Those on the more driving end of the spectrum are more likely to welcome a challenging discussion on money management solutions.

Flexibility
Those who fall in at the focused/firm end of the flexibility spectrum will approach money management with a “stay the course” method.  They may have rather strong opinions about how money is spent, saved, and donated.  Those who lean towards the adaptable end of the flexibility spectrum will weigh options and are open to their technique changing from time to time.

As we approach tax day, it’s important to recognize that each of us have our own strategy when it comes to managing money. And the best way to avoid an uncomfortable situation (one where you’d be forced to manage change in your personal world), is to identify the strategy that works best for you. We’ll have better success in the long run if we embrace our unique way of thinking and behaving.

Written by Heather Wherry
Lincoln Financial Group
Emergenetics Associate