Apparently, according to Bankrate.com, birth order can affect your finances.
I find families and birth order very interesting. I love hearing about other people’s families and how they worked. A friend of mine has six brothers, and she’s the only girl. Another good friend is an only child. My cousins are sisters. I have one friend whose siblings are 25 and 30 years older than her.
I have one brother. I also have a step brother, but my dad met his mom when we were too old for it to make a difference in our family structure, so, essentially, the brother is all I have.
The article on Bankrate.com outlines how birth order typically dictates finances and responsibility. Apparently, first borns are supposed to be financially responsible and drawn to high paying careers, whereas their younger siblings tend to me a bit more artistic and will settle for lower paying careers.
The baby of the family is supposed to be social and a frivolous spender. Only children will usually, according to the article, mimic the traits of the first born, and middle children are “prone to secrecy” with their finances, as natural problem solvers.
I am the baby of the family. My brother is older by 21 months. I may be the outlier, and perhaps this is because my family circumstances are different than the average family, but I would say that our personalities are the opposite of what the studies say we should be.
My Brother (The Oldest)
My brother has always been artistic. He never excelled academically, but was part of school plays and loved to draw. He’s always loved music. He’s always been amazing with computers and the internet, so I frequently call him to troubleshoot whatever I’m struggling with.
He’s charming and quick to make friends. He was always popular in school and very social. He would even invite his friends over for family functions because he couldn’t tear himself away from them for long enough to just hang out with us (granted, I was probably intolerable as a child. I was the little sister, so loved to torture him).
When we were little, he was sensitive. My mom teases me sometimes, because while she and my brother would be crying over a movie plot, at six, I’d be rolling my eyes and telling them that “it was just a movie” and to “get over it”.
As he got older, he began to rebel a bit; despite being the older sibling, the traditional birth order roles seem to have reversed themselves, making him the rebellious artistic.
Perhaps resulting from his personality, he is more apt to take risks with his money than I am. I’m currently cautious to a fault, whereas he could probably stand to be a bit more cautious.
Me (The Baby)
I’ve always been academically inclined. I took honors courses in high school and graduated a semester earlier than my classmates. I struggled in math, but I passed the highest level math because I knew I needed it for college.
I’d always known I wanted to attend post secondary, knowing even that my parents couldn’t help me financially with it. When I was younger I’d wanted to be a psychologist, a doctor, an entrepreneur and an author. Never did I want to become an actress, singer, or artist.
My artistic capabilities started, and ended, at creative writing. I’ve never liked music, I can’t draw or paint worth a damn (and have no interest in it), and don’t care for acting.
I read like it was going out of style (and still do) and researched things for fun. I played educational games and enjoyed statistics, studies, and literature.
When I was 16, my mom had a friend who was a financial adviser, and I picked his brain when he was over one night helping my mom with her retirement account. How much of my $6/hour fast food paycheque should I be saving? What should I save it for?
At 17, I had three jobs while in high school to save up for college. I didn’t get very far, because my mom quickly put an end to the juggling act, but I have been working since I was fifteen without a break.
At 21, I started this blog on Blogger to track my spending and saving so that I could get out of school relatively unscathed.
Here I am today with a responsible financial head on my shoulders and investing in education instead of on the stock market (though I hope that will change soon).
They’ve Got it Backwards
At least for my family, the studies have it backwards. As the baby, who is supposed to be irresponsible and artsy, I am responsible and academic.
As the supposedly responsible, academic one, my brother, the oldest, was irresponsible and artsy.
I find this so interesting, because it proves that nobody fits the mold perfectly. Sure, I’m supposed to be the irresponsible dare devil but it’s quite the opposite.
What about you? Do you have siblings? Who is more financially responsible?
For me, the study has it right. I am the oldest I have always been very interested in academics and have always done very well. I often find myself “coaching” my younger brothers. They’re always asking questions like how to get a car loan or credit card. And like your brother their credit scores are too low to even get any type of credit. I have two brothers, the middle child is much more responsible than the youngest, who basically throws his money away. Very interesting post!
I almost wonder if it’s the difference between younger females and younger boys… with my friends, it’s usually their brothers that are less financially sound in their young adulthood.
Very interesting. I am an only child so I cannot comment. But I have noticed through friends and family the first child tends to be the rebel child. I do not know if it is because parents learned to parent on the first child or another totally different reason.
Apparently only children act like first borns – so you’re responsible! I think it might have something to do with the lack of attention because it’s all going to the baby? Or something like that. Who knows, but I’ve seen that too.
I am the oldest in my family and I am the most responsible. As the study suggests my brother who is next in line is a litte less responsible and my sister who just turned 21 is least responsible. Didn’t care for school and spends freely. She makes a decent income now but still spends freely. Good article and interesting.
Maybe she’ll get more responsible as she grows up. You said she was the youngest, and she’s just become “legal” in the states, right? Here the drinking age is 19, so I know I wasn’t particularly responsible at 19.
I have siblings but it’s a little different to tell how our birth order would effect us because of our living situation. I have an older half-brother (whom I just call brother), but he didn’t ever live with us and lived far away, and then I’m the middle child (or you could call me the oldest) and then I have a younger sister. I would definitely say I’m more determined than my older brother.
Yeah, every family is so different that it’s hard to dictate behaviors. Especially “these days” with mixed families and things like that.
That was quite an interesting article. I have two siblings, one who I am not that close with and the other who still lives with me(or I with her since she isn’t old enough to move out from with our mom and I am).
I am the first born in both cases, and I conform to the article quite accurately, I am very punctual about paying my bills and I am definitely an organized person. I however, don’t lean towards the perfectionist trait.
My little sister now, even though she is only 13, shows some of the signs of all three actually. She is artistic, from playing musical instruments to drawing. She doesn’t spend freely to the point she has no money left over but she also doesn’t pay much attention to it. I think it might get worst as she gets older(even though I will try to point her in the right direction). She also does well academically and her career goal is to be a doctor so really and truly she is a mixed bag.
Even though they have it backwards for you, I think the article has some standing ground. If you view it from a different perspective, first born children tend to be more responsible because they usually have to look out for their younger siblings where as the babies in the families tend to be less responsible because they always had someone looking out for them.
Isn’t it! I think families are so interesting.
That’s so interesting. I wonder if the gap between the oldest/youngest/middle makes any difference.
Maybe that’s true. I always though youngest were more responsible because they learned from the older’s mistakes. But I’m probably wrong!
Although I’m intrigued by studies in general, I tend to take them with a grain of salt.
Your brother seems like a pretty swell guy in spite of many of his bad and irresponsible decisions. As for his poor finances, I would attribute some of it to his parental guidance and influence. As for you, I give you kudos for all of your hard work, responsible behavior, and attention to your financial circumstances.
Overall, the studies in your case were inconclusive. As it turned out, you and your brother played reverse roles presented in the study. Good post.
His parental guidance and influence was the exact same as mine, and that’s why it’s a bit odd; I think he has more of a lackadaisical personality than mine is, though.
I am the first born in my family too, and while in some ways I hold true to the study (higher profile/responsible career) I won’t say I’m better with money. I have whacks of debt, while my brother, who knows he isn’t great with money, avoids debt to stay out of trouble (so who’s smarter NOW?).
He does work he enjoys, and he’s happy. I think personalities have more to do with it than birth order – but I’m not a researcher. 😉
I definitely think that personality has a lot to do with it, but I think these base personality on birth order. I think it has a lot to do with parental traits.
This is interesting. I have a family member that is big into the first-born thing and associated personality traits.
I’m not really sure if there is anything to it, but there might be. I’m the first-born and was definitely more academically gifted. However, my brother and I weren’t very responsible with our finances early on but that has changed as we’ve matured.
Looking at my wife’s family, I’d say their 1st-4th born are all out of whack. My wife is the 2nd in their family and she was has the academic gifts and financial aptitude. I’m not really sure where the rest fall. lol. But it’s definitely not in those categories.
I think the bigger the family, the more “out of wack” the study gets. I doubt my friend with 6 brothers is anything like this – in fact, she’s the 4th born, and she’s hands down the most responsible. So interesting!
I think how a person handles finances is based more on their personalities and life circumstances, then by birth order. If one’s parents are financially irresponsible, but the child is a logical responsible child, he will see the mistakes of his parents and make a better effort to be fiscally smart. In the same example, if the child’s personality is one that is carefree and doesn’t think about tomorrow, his parents mistakes will become his mistakes financially.
Just my opinion 😀
I agree with that, for sure. However, I know lots of people who had parents who were very irresponsible financially and they seemed to learn from their parent’s mistakes; they’re very responsible. I’m not sure.
This is an interesting topic. I can’t believe you were seeking retirement account advice at age 16. I didn’t even know what a retirement account was until I started my first career job (at your age now). For me, the birth order was also wrong. I am far more financially educated than my older sister. She is very bright and very competitive, but she simply doesn’t care about money or planning for retirement. I guess everyone has their own set of priorities.
Hahaha, I just knew i was supposed to save and didn’t know anything about it. I didn’t actually open the account at that time, I was just interested. I didn’t open a retirement account until this year, actually. I’m glad I’m not the only one who got it wrong, haha!
I love reading things like this! I find they’re inaccurate when applied to my life, too, though. At least a lot of the time. My brother and I were both pretty great academically. He’s definitely more artsy. I like art, but I suck at it. I’d say we’re equally financially responsible, though there have been times in each of our lives that we’ve relied on each other. Sometime you can’t control life’s circumstances.
I guess we’re outside their box, too!
Isn’t is so interesting! Your parents are lucky, to have two responsible, academically gifted kids!
You are definitely not like most youngest children! I am the youngest and the Bankrate article reflected all my former bad habits. My sister (middle child) is the most responsible though, more so than my brother (firstborn). She’s always saved, carried little to no debt (she financed a car and paid it off in less than 2 years) and is not interested in frivolous shopping, but she has the money to do what she wants, like take the family on trips every summer.I was more academic but now she is into learning all kinds of new things like piano and painting and I’m really inspired by her!!
That’s awesome! She sounds smart. I wonder why, as the middle child, she’s more responsible financially.
Myself.. I am a middle child. The first born description doesn’t really apply to my older brother, who has had financial problems most of his life..
However, they are pretty dead on when describing me: “Middle children are inventive, natural problem-solvers. They grow up thinking they can handle anything themselves, including money problems,” says Bacchus.
Is it true what they say about middle children having it the worst? Lol.
I’m the oldest and have a younger sister. We don’t fit the qualities of old/young in personality or money. We’re not the exact opposite either. We’re a mix. My sister told me once that the typical oldest and youngest qualities can change depending on the number of years between siblings, as well as boy/girl (the first girl and the first boy might BOTH act as first borns). And here’s a personal bit, we also had an alcoholic dad, which also changes how we act (I guess there are personality types that go with the children of alcoholics, too). So.. That kinda stuff is interesting, probably mostly fits people, but often doesn’t too.
YES. I totally believe that. I also think it depends if the siblings are the same sex or not. I definitely think many of us have circumstances like yours; every family has something different, you know?
Thanks for the mention! I’m glad you found the article interesting, and I’m not surprised that it’s not form-fitting for everyone, since it’s soooo generalized (even stereotypical). I’m glad you differ for the better though, it seems as though you have a lot of good financial traits under your belt =) My younger brother, on the other hand…
No problemo, friend! Haha, I’m assuming the study fits you guys quite accurately?
My family falls right in line with the study results. I’m the oldest and on track for a good career while my siblings are stuck in an extended adolescence with no specific career prospects or degrees. I’m highly responsible with money while my siblings spend socially and don’t save at all. My husband, an only child, also falls in line with that oldest-child model.
Do you find you also fall in line with other studies like ones about birth months/years/etc? That’s interesting.
Interesting. I do fit the financial mold of the article because I am the first born and the one stepping up for my family. However, I think that these studies seem to miss out on personality type.
My youngest brother acts like a “first born” would, and my middle brother acts like a mix between the “baby” and “middle child.” I totally connect this with their personalities.
I think the studies kind of point toward personality type being dictated by birth order. But it’s interesting how you fit the mold but your brothers didnt!
I don’t have any siblings, but for some reason I think if I’d have an older brother, he would be the responsible one. I am a spender. My mom likes to spend money too. I guess it runs in the family. 🙂
I inherited that trait from my dad. Boo!
the study has it right for me too.
I have older step-siblings but I’m the older of my sisters & I. I’m the most financially secure and I will probably out-earn them our entire lives. My baby sister can save but only for the next big vacation. She doesn’t set long-term goals and I’m doubtful she’ll ever have a retirement fund if an employer doesn’t give her one.
Did your step siblings every live with you? How many sisters do you have? Haha, well a vacation is a start..right?!
Can’t really say. My bro still lives at home and has never had a job (he’s 18).
I do know of some cases like yours, and I chalk it up to seeing and learning from the older kid’s mistakes.
Is he younger? Did you have a job earlier than 18? Both my brother and I started working at 15. He had a harder time keeping down a job, though. Totally agree – I think I learned from his mistakes.
Both of my parents were the youngest and also the most financially responsible of their families. In their cases, their older siblings went down somewhat wayward paths, and they had to hold it together – not just for themselves, but for their whole families.
I, however, fit the only child type in that article to a T. 🙂
I guess my mom is the oldest in her family and the study is right for her, too. Don’t you love reading articles/studies about things that you fit?
The study has it kind of right and kind of wrong for me. I’m an only child (and a Virgo) so I’m extremely responsible and I’m a perfectionist. I have a great credit score, but I don’t think I do a lot of “keeping up with the Joneses” spending (at least not anymore – when I first got my job and I was 22, that was different).
I really liked your breakdown of the article! And it was really nice/responsible of you to help your mom out when your brother was rebelling.
Yeah, I think as we get older our habits change. I used to spend a ton on .. well..everything, too.
Yeah, she was a single mom. I couldn’t fathom making her deal with me, too!
THEY don’t have it backwards — YOU are backwards. Are you sure you’re the baby?
HAHA. So true.
Odd as I am the oldest and probably the worst at finances.
I have worked since I was 15, too and it feels weird to have time off now without school or work. I am not sure I can handle it.
i don’t know how I’ll handle it, either! It will be odd. I think it would be boring.. even at 15 with school and friends and extra curriculars, I didn’t mind being busy!
I would say this article is pretty for myself and my siblings. I am the eldest, type A personality, (try to be) careful with money now that I am older and I currently make more money than my siblings (who are younger) but they might do better than me one day who know. My sister might just make it big of being an artist…who knows (I hope she does). I want my siblings to do way way better than me.
Apparently Type A’s (like me) die earlier. So don’t try to be a type A!
We’re POST twins. I just posted this today… crap I “copied” you haha 😛
Did you? LOL. Great minds, my friend.
My family is exactly how Bankrate portrays it. I’m the eldest, the responsible and financially stable one. I’m about 50/50 when it comes to creativity though, since I paint and sketch pretty well. I’ve never wanted to work in the artistic industry though, only a financial career for me!
I have 4 younger siblings (two sisters and two brothers). My youngest brother is a total mess, and spends most of his money on porn and beer (he’s only 19 but still). My middle sisters are much more creative, outgoing and less responsible than I am. Although, I give them credit for trying and always asking for help if needed. My oldest brother is a lot like me, and has a very well paying job, with a wife and little girl. He’s always been very loyal and responsible.
Hahaha ohhh dear. The porn and beer thing .. that’s funny. He’ll grow up (hopefully). I think this supports the idea that the oldest boy and oldest girl might portray the same traits.
Every family is different of course, and there are variables in addition to birth order that affect the way you turn out. In my family for example, my older brother was a rebel and so I ended up behaving more like a firstborn than a lastborn.
In researching my last book though (I’m a writer), I was amazed to discover how perennially underestimated the middle child is. They develop great qualities as a result of being “squeezed.” Yet studies show they earn less, typically, than firsts because they are less motivated by $$ and more motivated by do-gooder type work. They leave their home state more than other birth orders so they can pursue their passions. So they may well earn less, but they tend to be happier in their chose careers (and with their spouses/ partners!). It’s all very interesting…. 😉
That’s exactly what happened with me. That’s so interesting..I dont have any friends that have two siblings that are close enough apart to weigh in, but cool!
I love data like that too. I’m the baby and I overspend but so does H. (my older sister). It could be said that our spending faults and financial bad habits are the same.
It’s funny because my cousins are sisters, and they don’t have any other siblings, and they are both very similar. Maybe it comes down to gender.
I am the older sibling and I am in the lucrative software field. My sister is more artistic. I was always super responsible with my money and my sister, less so. I was less popular and more nerdy and her more popular and far less nerdy. So I guess we fall exactly into that stereotype 🙂
Interesting! Well, I guess it’s only a stereotype because it’s true in most instances 🙂
The study is right in my family. I’m responsible in all areas of life whereas my brother is a whimsical free-spirit “money’s no problem” person.
Also, I understand what you were saying about your brother acting up as a teen and you feeling that you needed to be extra “good”. I was the same way except that I was like… 18 when my brother hit his teens and I took my “good girl” into the extreme
For my family, the study has it backwards. My oldest brother is the “partier” of the family. He is the one who just don’t like to be confined by anything or anyone, not even a lease (he currently lives in my parents’ rental property & pays half of the market rate in rent that property can fetch). With my middle brother, he was probably a fit to the article. We thought he had it all together until he passed away last year & we started receiving calls from all kinds of credit card companies trying to track him down. I am the youngest and I pay all of my bills on time, I’m currently pursuing a Ph.D. in Public Policy and also interning with a local politician. My bills are paid on-time and, though I am a social being like the article implies about the youngest, I keep a watchful eye on how much I spend. I hate to ask my parents or anyone for help, so that blows that stereotype of the youngest being heavily dependent on others out of the water.