Top 5 Habits That Introverts Should Follow For Money Management

Do you like to spend most of your time alone, reading books, playing games, or exploring nature?

Are you more comfortable talking with a smaller group rather than mingle at a party?

If you said yes to both questions, you’re probably an introvert.

While introverts do wish that they were more outgoing like their extroverted counterparts, the personality and habits of introverts can actually be advantageous to saving money and building wealth.

For those who are eager to live a more financially savvy and responsible lifestyle but don’t know where to start, read on further as we discuss five smart money habits for the reticent individual:

Stay at Home More Often

Staying at home is perhaps the single most financially impactful habit that any introvert does without even realizing it. Introverts are naturally opposed to attending rooftop parties, eating out with friends at fancy restaurants, and other activities that aren’t only exhausting and socially intense, but also expensive. A cab ride home from a night out partying can cost you upwards of $20, and that’s just the one-way trip. Add to that the overpriced drinks at bars and the insufficiently portioned yet ludicrously expensive meals at five star restaurants and you can be spending hundreds of dollars just to fuel your extroverted lifestyle. As an introvert, choose to stay home on the weekends. Rent a movie, have a board game night with friends, or read a book.

Shop Online Is Always A Great Option

Because most introverts spend their free time at home, it’s a smart habit to shop from home too. It’s quite easy to lose your financial discipline and control when shopping at brick and mortar stores. It starts off with one shirt, and the next thing you know your cart is filled with four season’s worth of clothing and a line of credit under your name that you can’t afford. As an introvert, you should use your time at home to purchase essentials, such as school or work supplies. It saves you the hassle and the costs of the round trip. Most online stores also offer discounts on select items. If not, there are always coupons you can find and use around the web.

Sleep on It and Be Patient

According to a 2010 study, extroverts have a higher tendency to seek immediate gratification; they crave results and pay no mind to the consequences or costs that they pay to get these results. Introverts, on the other hand, are less prone to buying on impulse. While they aren’t immune to the charms of the latest smartphone or a brand new car, introverts are much better at keeping their emotions in check when buying something. Before making any financial decisions, sleep on it. Take the time to consider whether or not you are making a smart investment or if you are simply throwing hard-earned money on something you’ll end up discarding or not using at all. If you still think it’s a good purchase after waking up, the only difference is the few hours that you took to decide. But if you wake up thinking that you don’t really need the purchase after all, then you would’ve saved yourself a couple of bucks and gained a bit of self-confidence in your ability to stay financially disciplined.

Learning From Online Classes

The article isn’t complete without some college tips for the young and career-driven introvert. Thanks to modern tech advancements, particularly expansions in IoT, online education has matured to become a viable alternative to traditional campus education. Online courses are significantly cheaper than traditional college. And while you lose out on the old campus experience, introverts tend to thrive and learn better in a digital environment. It’s not that they are shy or feel inferior; it’s simply that they study better when they are alone with their thoughts and can concentrate without the mumbling of uninterested classmates. With a smaller class size, each student enrolled into an online program is given more attention while being charged less.

Tap Into Your Creative Side

Introverts love working from home and prefer to stay indoors or somewhere quiet and peaceful to think. With the environment that they try to cultivate for themselves, they are able to switch into a way of thinking that allows them to pursue creative projects and sidelines that not only save money, but can potentially make some as well. Introverts are creative and resourceful by nature. While you’re staying in you can always apply for a car title loan online right from your home. Since it is characteristic of introverts to avoid conversations if they can, they tend to learn and pick up on new skills and knowledge fairly quickly.

Final Thoughts

Whether you’re an extrovert or an introvert, one thing is clear – you need to be smarter in how you allocate your personal finances in order to secure your future. Use your introverted qualities to affect change within your money management habits. Use the five tips above as a starting point or template for these future alterations.