Which Chinese New Year animal are you and how can it influence your finances?

We all have a connection with an animal from the Chinese zodiac depending on when we were born and, according to Chinese mythology, each animal has different personality traits, which can influence how we go about looking after our money.

Some of the animals are below, so take a look for the year you were born to discover which animal you are…

Cautious Dog

The dog is known for being cautious and when it comes to money, this personality trait means you are much less likely to be tempted to spend beyond your means. You’ll also be more likely to plan ahead and you like to keep your finances organised. Sometimes you can be wary about change, but don’t be scared to shop around for the best deals on things like your energy bills. 2018 is the year of the dog, so even if you’re not one, it’s a great time to start being more careful with your money. Try setting a monthly budget and see how you get on.

Observant Rooster

One of the characteristics of the rooster is being observant. Roosters like to keep an eye on their finances by tracking what’s coming in and what’s going out. If this is your Chinese zodiac animal, you may be more likely to spot any fine print on any deals or purchases you enter into, helping you make more informed choices.  You can use this trait to your advantage by checking your credit report regularly. This will help you keep a track of progress with paying off any outstanding debt and can help you spot any signs of ID theft and fraud.

Reliable Ox

Reliability is a trait associated with anyone born in the year of the Ox. You’re a dependable character and you like this to stretch into your finances. You know the importance of paying your bills on time and know the value of having money put to one side in case anything crops up. What’s good is that reliability is one of the key traits that lenders will look for when deciding who to lend to. If you can make sure your credit report reflects this part of your personality, you’ll have more chance of being approved for credit in the future.

Optimistic Horse

The horse is incredibly optimistic and when it comes to finances, this personality trait means you can either be a great saver or a great spender. If you’re more of a saver, you’re likely to be more driven to save for the future, as you’re always optimistic and focused on achieving your goals. On the other hand, your optimism could sometimes make you believe that your actions don’t matter too much as it will work out in the end, which could result in over-indulging and getting into debt. So, it’s important to balance out optimism with realism from time-to-time.

Alert Rabbit

Rabbits are alert, which means you’re always tuned into changes in the environment around you – something that makes you a great financial planner. If you’re a rabbit, chances are you’re always up-to-date on the latest financial news and developments that might affect you, such as rising inflation and cost of living. You’re able to change your financial strategy based on these things so you can safeguard yourself against any major shocks.

Responsible Pig

Being a pig isn’t bad when it comes to the Chinese zodiac, as you’re known for being responsible. Having the responsible personality trait is about making informed choices and pigs are likely to have access to their credit report and use it regularly to make educated decisions before applying for credit. But, is it possible to be too responsible? The answer is, maybe. If you’ve never borrowed it could impact your credit profile, as you’ll have no history of making repayments, making it harder for lenders to decide whether or not to lend to you.

Confident Tiger

Tigers are confident creatures. However, be careful that you don’t get too overconfident when it comes to money management, as it’s important to think before you act. Like the optimistic horse, you should try to stay balanced and have realistic expectations when it comes to investing and managing your money.

No matter what animal your birth year connects you to, it’s worthwhile considering all the different personalities above.  As well as using a combination of the traits, you also need the correct tools to help you along the way. By using websites like noddle.co.uk to check your credit report regularly, you’ll be off to a great start.

Happy Chinese New Year, from the Noddle team!