The Gambler

Signs you might be a Gambler:

• You share characteristics with both Moneymakers and Spenders.
• You can make a lot of money and make risky financial decisions. You are more likely to invest in large, high-risk projects, for example. The thrill of risk and the promise of reward is a pleasure in and of itself that you can easily become engrossed in.
• Sometimes you gamble away your money to get rid of boredom.

Pitfalls:

• Risk-takers frequently experience financial losses and subscribe to the motto "go big or go home." If, however, you allow the wager to go awry or use your retirement savings or contingency funds to make up your losses, you run a higher risk of losing everything you have.
• Gamblers frequently experience unexpected gains or devastating losses. The risk that stands out the most is when compulsive gamblers borrow against assets like their retirement savings or kids' college funds to cover shortfalls along the way.

Money advice:

• The goal is to be self-aware and conscientious about the financial risks you take. Balance and security are essential, so begin saving on a monthly basis before making any major financial decisions.
• Nothing ventured, nothing gained. However, you must set aside a contingency fund in case your investments fail. Also, before investing in a project, you should thoroughly research it and consult with a financial expert.