WASHINGTON – Think about the way you manage money, and then consider your siblings’ habits. Is there a difference?
The answer probably is yes, according to MSN Money.
Firstborns tend to be more organized and dependable, but their perfectionism may lead to setting unrealistic financial goals.
Only children share many of these traits, but can also have a desire to impress their elders and superiors. If they are not careful, this can lead to living beyond their means.
Middle children are inventive problem solvers, which can mean moving money around between different credit cards and hiding financial troubles.
And the youngest?
MSN Money heard from some people who admit to being spoiled and dependent, and others who claim to be more financially responsible than their older siblings. Generally, the babies of the family are very social and prioritize dinners out with friends over saving money.
Experts recommend tempering those immediate urges with better financial planning.