This is the first of four articles to discuss recession combat from the viewpoints of each of the four temperaments - the four Colors.
This week is about the rational Greens. Actually, this is not addressed to Greens but to the other Colors. Why? One of the reasons we all get trapped in stagnant financial struggles is that we keep doing the same thing. We do not change our behavior over time. And much of our decision-making is based on our inborn temperaments, not on logic or even common sense. Therefore, it is urged that each week we take a look at what people of other Colors (not our own) do correctly when it comes to managing money. We can learn from them.
Green people pride themselves in being rational. They rarely stray from the big picture, stark logic, and a desire for intriguing problem-solving. For Greens, even a recession can be a wonderful challenge. Like Orange people, Greens thrive on challenges.
Like many scientists, a Green will look at data carefully and ask questions. What has happened over the past several years? What is the current state of income, expenses, cash-flow, investments, debt, etc.? For the future, what do the experts say are good bets for industries, jobs and investments? If a Green's industry, job, and current investments do not measure up to the likely future, what options need to be considered?
Greens surround themselves with resources: computer software, useful newspapers and magazines, insightful seminars, intelligent TV programs, and people who know what they are doing. Like Warren Buffet (see the next article), they study deeply before they invest. And they take advantage of all the knowledge they can gather from these resources.
Speaking of resources, Greens tend to be highly efficient with their resources - not wasting very much in quantity or price. If the family is experiencing serious financial struggle, then watch the Green cut bills to the bone - such as to basic cable, basic internet, need-only utilities, vacation plans, groceries, dining out, entertainment, holiday gifting, etc. They do this more easily than the other Colors because Green are utilitarian to the core. What's more, they are perfectly happy living in their heads and do not need to own a great arsenal of material goods.
A natural gift that many Greens enjoy is calmness. They separate themselves from emotional reactions to difficult problems. They may compartmentalize issues that will cloud rational thinking with distracting emotions. This way, it is possible to treat one's financial planning as more of a scientific exploration on the outside rather than a nervous or fearful reaction to bad times.
Greens, however, may have so much faith in rational and logical thinking that they fail to realize not everything is completely reasonable. One can sacrifice happiness by choosing the wrong recession-friendly job, or investing in an industry suddenly rocked by natural disasters or corruption. Greens - as intelligent as they like to think of themselves - are not likely as "savvy" as the Dow long-term, or as Warren Buffet, or as a few million individuals who somehow have an unworldly intuitive pulse and gobs of common sense.
Those of us who are not Green can improve our money management by adopting one or more strengths of Green people. Better yet, we might enlist a Green to help us with financial decisions.
Next week, find out what we can learn from Gold people.
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