"Marcia, Marcia, Marica!" Does Birth Order Influence Financial Behavior?

Marcine Marcia Mareial DOES YOUR BIRTH ORDER REALLY INFLUENCE YOUR FINANCIAL BEHAVIOR? Numerous studies have attempted to prove, and consequently disprove, the birth order theory first proposed by Alfred Adler, an Austrian psychotherapist and Sigmund Freud collaborator. Does birth order truly play a significant role in outlining our personalities, or is this merely a theory perpetuated by pop culture? CouponCabin's new survey links our birth order to how we handle our finances. Take a look at the results below to see if the theory holds true. ADLER'S THEORY Adler analyzed social influences on personality, including birth order, making the following rather harsh assertions. FIRST BORNS MIDDLE BORNS LAST BORNS Power-hungry Competitive Spoiled and lazy conservatives WHO RULES THEIR FINANCIAL HOUSE BEST? Several studies on birth order pointed to first borns being more conscientious, organized, and more responsible than later borns. Does this ring true for money? DO YOU CONSIDER YOURSELF FINANCIALLY RESPONSIBLE? I Extremely Very I Fairly FIRST BORN 3% 87% 9% Middle borns proved to be slightly more responsible than first borns and were also MIDDLE BORN 2% 88% 10% less likely to consider themselves not at all LAST BORN responsible when it came to their finances. 4% 85% 11% Numbers may not add up to 100 percent due to rounding. DO YOU TAKE FINANCIAL RISKS? Later borns are considered to be more open to new experiences, but are they more likely to take a financial risk? FIRST BORN O MIDDLE BORN LAST BORN 39% 100% 62% 64% 65% Only children proved to be the most likely to take a financial risk (39 percent), such as borrowing for short-term investments or investing in risky ventures. 38% 36% 35% YES NO YES NO YES NO 0% SAVING MONEY Experts say first borns are likely to be more neurotic in terms of being temperamental and anxious about their status. Does this mean they're the big savers in the family? 100% MIDDLE BORN 80% LAST BORN FIRST BORN Looks like middle borns are the penny pinchers (65 percent), while first borns are 60% 40% less likely to save each month (57 percent). 20% 57% 65% 60% 0% said they put money into a savings said they put money into a savings said they put money into a savings account each month. account each month. account each month. HELPING OUT Research points to later borns being more agreeable than firstborns. They are more tender-minded, accommodating, and altruistic. Does this mean they would help their siblings out? FIRST BORN 36% MIDDLE BORN Turns out, middle borns are significantly more likely to get hit up for money, as 49 percent said they've been asked by their older and younger siblings. First borns (36 percent) and last borns (29 percent) reported lower instances of being asked for dough. 49% LAST BORN 29% 20% 40% 60% 80% 100% Some of the theory rings true. First borns are more likely to be responsible when it comes to finances, but this doesn't mean middle borns or last borns are not organized when it comes to their money. As with most theories, perhaps more factors than just our birth order will predict how well our financial house holds up. Do you think your birth order affects your financial habits? Join the conversation at www.couponcabin.com/blog/infographics. COUPON CABIN.COM SOURCES // COUPONCABIN.COM, CONCEPTUAL CHALLENGES IN EVOLUTIONARY PSYCHOLOGY: INNOVATIVE RESEARCH STRATEGIES BY F.J. SULLOWAY