Does Your Birth Order Shape Your Financial Future?

Are you an only child? Middle child? Oldest child? Chances are, your birth order is shaping your financial makeup.

Birth order theorist Alfred Adler had a belief that firstborns are the highly responsible and organized types (he also called them power-hungry) because they’ve been told they need to lead by example through their early years. A new study of 2,200 adults by CouponCabin confirms that data—with 87 percent of surveyed firstborns considering themselves financially responsible–and it also introduces new theories.

The study found that those who are born later (think middle children and the youngest children in a family) consider themselves to be more open to new experiences and bigger risk-takers with money. While middle children lead the way with savings, with 65 percent of participants in the study putting money into their savings accounts each month. The middle children are also most likely to be asked for money from a sibling.The least likely to make monthly saving account payments were those who were born first.

Only children were found to have the highest numbers of those who took financial risks, including borrowing money for short-term and investing in risky ventures.

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