News: Siblings Play a Role in How Much Money You Will Make

It seems a little unfair that siblings are now allocated their own day to celebrate their own existence, when anyone who has a sibling know that they somehow routinely manage to make everyday about them anyway.

Love them or hate them, they play an important role in your lives. We turned to Time.com to find out exactly how your sibling “rank” (whether you are the eldest/middle/youngest child) can predict your income and spending down the line.

According to research from a meta-data analysis, whether you have younger or elder siblings – or you were an only child – can effect the following:

How You Save

The eldest child appears to come out on top for this one. Older children are deemed as characteristically more “driven” and “motivated”  and therefore better at putting their money away for a long term goal. Oldest children tend to be the most driven and motivated, which can make them more successful savers. They’re also described by another report as being more “risk-averse” with their money, preventing them from spending beyond their means. But avoiding risks can often mean missing out on opportunity too. Be wary, older child.

Apparently, the middle child (forever stuck between the eldest and the youngest trying to prevent a war from erupting), means their good-natured, peace-keeper position makes them the most likely to have other siblings rely on them for financial assistance.

The poor youngest child lives up to stereotypes, according to the research. Described as “social butterflies, creative and less inclined to follow the rules” they predictably often have trouble keeping their finances in check.

How You Work

CareerBuilder.com ran a survey and found that the sibling most likely to end up with a six figure salary was the one that grew up alone. There are benefits to the solo life, then! If you did end up with brothers and sisters, first-borns are more likely to end up with a salary of $100,000(USD) or more.

For children in the middle children, they were the most likely to stick with an entry-level job for their career, earning $35,000(USD) or less a year.

The survey also managed to group the most popular professions among each group:

· Firstborns: government, information technology, engineering, science

· Middle Children: law enforcement, fire-fighting, construction, education, personal care

· Last Born: art/design/architecture, editing/writing, information technology, sales

· Only Child: information technology, engineering, nursing, law enforcement

Now of course, all of this doesn’t hold fast as a rule, but if you needed another reason to squabble with your siblings, you can now blame your older brother for your 5-figure salary! 🙂

Happy International Siblings Day!

The IA Team

 

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