Birth order would be a good indicator of who is the biggest spender among siblings.
If you come from siblings, you will probably agree that there are more differences than similarities between members of the same family. Indeed, it is not because brothers and sisters were raised in the same way by their parents that they necessarily resemble each other. Each individual in principle has their own personality, their tastes, and possesses qualities and faults. These differences are noticed both in terms of physique, character and decision-making. This is particularly the case when it comes to money.
When it comes to finances, some may have a responsible approach, being thrifty while others may be more spendthrift. A reality which is observed within siblings, and which would be due to the order of birth. This birth order theory was developed by Austrian psychotherapist Alfred Alder. It suggests that a child’s birth order among siblings influences his or her personality and behavior.
Based on this observation, neuropsychologist Sanam Hafeez, based in New York, explains that the elderly, who are “often seen as responsible and achievement-oriented, tend to be disciplined savers and cautious spenders, influenced by their parents’ expectations.”
Conversely, younger children, namely the youngest and the youngest, may tend to take risks, due to their carelessness and sometimes the lack of parental supervision. “Young children may exhibit more impulsive financial behaviors, preferring to spend in the present rather than save for the future, influenced by generally more lenient parental relationships,” explains the specialist. And if you are an only child, know that in general “Children, who mature quickly and benefit from close relationships with their parents, develop conscientious financial habits, relying on security and careful planning”, adds Dr Hafeez.