What We Do Well: Making Personal Strengths Work for Personal Finances

by Gary Foreman

We all have strengths and weaknesses and both have an impact on our finances. But, we can learn to identify where our talents are. Then, learn to use them well so they work for us financially.

Recently, I became aware of something that I’d overlooked for years. It’s one of those little things that aren’t earth-shaking but can make a difference in how we live our lives.

It began when I noticed that we all like to do the things that we do well. I’m not a golfer, but I understand that some are better at the long drive and others excel at putting. If golfers are human (and, with the exception of golf widows, most of us think they are), then the ones who are good at driving probably enjoy going to the driving range. Those who are better at putting would rather spend time practicing that eight-footer.

And that’s only natural. Success feels good. It makes our efforts seem worthwhile. Makes us feel a little superior. Gives others an opportunity to praise us. Generally, it does things that feel good to us. So it’s not surprising that we like spending time on the things that we do well.

The opposite is true, too. Our friendly golfer probably doesn’t like practicing his puts, especially if he struggles in his short game. It’s frustrating to keep trying to do something you’re not particularly good at. And it’s embarrassing, too, as others see you fail repeatedly. Tough on the ego.

The natural inclination is to spend our time at the driving range. Not struggling on the practice putting green.

What We Do Well and What We Don’t

The same is true of our home life and finances. There are some things that we seem to do well. And other tasks are likely to cause us problems. How does that play out at home? Let’s look at a couple of examples.

Some of us are very good at planning things. It just comes naturally, almost without effort. Doing a weekly menu plan is a breeze. And planning for a vacation is something to look forward to.

Unfortunately, that’s not true for everyone. Others struggle to plan the simplest things, like what we’ll have for dinner tonight. We tried creating a meal plan. It was a pain to put together and didn’t work very well. We decided it was not worth the effort involved. (See 4 Meal Planning Mistakes that Could Be Costing You.)

How about a financial example? Some of us relish the details of our finances. We enjoy checking our credit card bill each month. Keeping track of our investments is a pleasure.

But, for others, the opposite is true. Our minds numb at lists of figures. Details drive us crazy. We can’t stand them, so our monthly statements stack up on a pile that we intend to go through “someday” in the future. (See Get Your Personal Finances In Order One Day at a Time.)

What Will Make Our Lives and Finances Better?

First, we can take advantage of the things that we do well. Our planning friend would be wise to make weekly menu plans. They’ll reduce their grocery bill with a minimum of effort. In fact, the effort will feel like play, not work.

The same thing is true for our detail person. Look for opportunities to use that detail orientation to your advantage. You’re a natural for comparison shopping. Also, you’ll be gifted in finding errors in your various statements and accounts.

Second, we need to make provisions for the things that we don’t do well, either by getting better or finding an alternative.

Take our “planning challenged” friend, for example. Doing a weekly menu plan will not come easy to him/her. They’ll probably need help to do the job properly. Perhaps prepared forms or even a procedure for creating a meal plan would help. If even that’s not enough, our friend might want to seek out plans that they can purchase. (See Mastering Meal Planning: Time and Money-Savings Tips for Beginners.)

Let’s move on to the person who can’t stand details. Letting their statements stack up is not a wise move. They should either find a step-by-step process to walk through the statement or find someone to help. (See 7 Basic Steps to Managing Your Money.)

Recognize and Compensate for Your Financial Weaknesses

Recognizing that you have a weakness and compensating for it is a wise move. If you’re nearsighted, it’s smart to get glasses or contacts. There’s no reason not to do the same with your household or financial affairs.

Often, you’ll find that your partner complements your strengths. Use that to your advantage. There’s nothing that says that the person who cooks needs to do the menu planning. A wise couple works together.

Much as we’d all like to be special, no one person is naturally gifted in all things. But, we can learn to identify where our talents are. Then, learn to use them well. And, finally, accommodate the things that don’t come naturally to us.

• How the Things We Believe In Affect Our Finances
• 6 Types of People Who Have Trouble With Money
• Reevaluating Personal Finance Habits
• Let’s Stop Repeating These Financial Mistakes
• Your Strengths Don’t Retire When You Do

Reviewed November 2023

About the Author

Gary Foreman is the former owner and editor of The Dollar Stretcher. He's the author of How to Conquer Debt No Matter How Much You Have and has been featured in MSN Money, Yahoo Finance, Fox Business, The Nightly Business Report, US News Money, Credit.com and CreditCards.com.