Photo credit" Eric Ward via wikimedia commons

Research suggests that birth order can affect how one approaches finances. Which number child are you? It may matter. sources:

Photo credit" Eric Ward via wikimedia commons

Firstborn children are "fiercely responsible," and generally very well organized. They also tend to have the highest IQ of all the children.

This helps with paying bills, getting good credit, and not getting buried in debt. But, being perfectionists, first-born children can easily become overly worried about finances.

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Middle children are inventive and good at problem-solving.

This can be a positive financially, being entrepreneurial at work and finding income. But it also can be negative, as middle children find creative ways to get around their debt and other problems, digging holes for themselves.

The Younger Kids
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According to an article by Time magazine, all siblings choose to play sports equally, but the younger ones generally play the riskier sports and positions.

Being more willing to take risks has a financial impact and can have an occupational impact.

The Youngest
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Unfortunately for the youngest child, income drops for every step down the birth order ladder, according to a Time magazine article.

One reason this may be the case for the youngest child is that they tend to care more about relationships and being social than anything else, including finances.

It doesn't help that the baby sometimes gets spoiled, developing a habit of relying on others.

But nothing is set in stone. New York Yankees star Alex Rodriguez is the baby of his family.

Photo:BYU economics professor Joseph Price, pictured here with his children, found that first-born children get about 3,000 more hours of quality time with their parents between ages 4 and 13 than the next sibling gets when they pass through the same age range.

Only Child
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Only children are much like first-borns, but have the added characteristic of seeking to please their superiors. This can either be good or bad financially.

A famous only child: Robert De Niro.

Family Size Matters
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The differences between siblings tend to flatten out the more siblings there are, so don't take this research as final destiny.