While your birth order will often affect your placement in the family, you may have been unaware of how your position might affect your finances. With Middle Child Day around the corner, it is time to look at how being in the middle of the family pack might affect how you handle your finances.[1]
Middle Children Tend to be More Centered With Money
While older children may get the most attention from parents and younger siblings tend to get away with the most, middle children often find themselves flying under the radar. This makes them more open, flexible, and balanced by nature, which often translates to a more even approach to money. Middle children often grow up to be avid savers, focusing on building up wealth over the long haul.[2]
Middle Children May Have Difficulty With Tight Budgets
Middle children often work harder to get noticed, which gives them a more outgoing personality by nature. With this personality type comes the need to stand out. This may translate into needing to buy the latest styles and get tickets to the best events. It may even translate to overindulgence in gift-giving as a way to get noticed. While many middle children will end up being good with saving as they get older, their difficulty sticking to a strict budget may get them into financial trouble from time to time.[3]
Middle Children May Give Away Money Even When They Don’t Have It.
Middle children are master negotiators, empathetic, and work hard to make everyone happy. When a sibling, family member, or even a friend comes to them to ask for a loan or needs money to get out of trouble, middle children often have a hard time saying no.—even if they anticipate they will never be repaid.
While it is ok to help others when they need it most, the need that many middle children show to take care of everyone will sometimes drive to them to give even when it is not the financially sound choice for their situation. Middle children should always review their finances before lending money, and get comfortable with prioritizing their own financial stability.[4]
Being a middle child comes with good and bad aspects. When it comes to money, the personality traits most middle children gain makes them excellent savers with the potential for a strong future—as long as they avoid the pitfalls along the way.
Sources
https://money.com/middle-child-affects-finances/
https://www.realsimple.com/work-life/money/middle-child-affects-finances
https://www.businessinsider.com/how-birth-order-affects-the-way-you-spend-money-2015-11#-4
[1] https://www.goodhousekeeping.com/life/parenting/g22639116/middle-children-facts/
[2] https://www.businessinsider.com/how-birth-order-affects-the-way-you-spend-money-2015-11#-3
[3] https://www.realsimple.com/work-life/money/middle-child-affects-finances
[4] https://money.com/middle-child-affects-finances/
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