What’s Your Money Personality and How to Handle it.



You’re browsing through the aisles of your favorite electronics store and something amazing catches your eye. It’s the latest, most technologically advanced tv you’ve been wishing for the last few months and the store finally has it.

What would you do?

While some people would have no problem splurging their money on the tv, others would think twice and hold off on spending. That’s because we all relate differently to money, depending on the level of influence we’ve had from our upbringing, friends and the living standards of our society. You could call this your “money personality”.

So, if you are your spouse often get into it over your finances you most likely have two very different money personalities.

Think about how you relate to your money and how it affects your overall finances. What does money mean to you? How do you behave in a situation that requires you to make a financial decision?

Once you figure out your money personality, you will be able to make better decisions in the way you spend, save and invest your money.

What’s Your Money Personality?

1. The Hoarder

While others see money as a means to buy nice things, you see it as a means to obtain security. You really enjoy saving your money and seeing your savings account balance consistently rise gives you a huge rush. You faithfully follow a budget and you get excited when it’s time to discuss and or organize the household finances.

Common behaviors of hoarders:

  • Sneak their own snacks into the movies, in order to save money.
  • Always offering alternatives that don’t require spending money.
  • See no problem with not going on vacations or spending money on entertainment.

Advice for Hoarders:

You only live once, so enjoy life. It’s great to be aware of your finances and to keep an eye on your spending, but not to the point where you are making yourself miserable unknowingly. Make sure you are budgeting for entertainment and hang out sessions with your friends, you deserve it especially if you are a parent. So loosen up a little bit, everything will be ok. And if you really want some financial security, try investing, this will help you grow your stash while allowing you to enjoy your hard earned-money without the stress of feeling like you’re blowing your future.

2. The Spender

Buying things is a common behavior that helps spenders feel important, loved, and validated. Spenders can be status seekers who equate possessions with self-worth. Whether or not they can afford it, that Louis Vuitton bag or that high-end car makes them feel respected. You feel that money is meant to be enjoyed and make life better. You often buy things and services for your pleasure and don’t mind buying for your friends either.

Common behaviors of Spenders:

  • Appear as if they have it all together but don’t.
  • Difficulty saving money
  • Will go in debt, if can’t afford what they want.

Advice for Spenders:

To get your spending under control, you need to create a budget. You must set and stick to certain limits, that will allow you to spend healthily. Ditch the credit cards because they are your go to when you can’t pay with cash. Most importantly respect yourself because if you don’t respect yourself nobody else will. If you can’t be respected without the high price tags, then you really need to call into question the ones you are trying to impress.

3. The Avoider

Avoiders are not comfortable with the subject of money. They might not even know how much is in their bank account and planning for retirement feel too far away to worry about.

Common behaviors of Avoiders:

  • Consistently putting off their financial responsibilities
  • Don’t check bank account, scared of the damage they may have done
  • Doesn’t pay bills on time

Advice for Avoiders:

You will only be able to avoid your finances for so long until your income will be affected unwillingly. Change your state of mind and get in front of your finances before you really start experiencing some damage. Try to do small financial related tasks daily to get you comfortable with your financial responsibility.

4. The Speculator/Amasser

You’re motivated primarily by excitement; they tend to be aggressive with investments, always looking for the “next big thing”. Their financial life is a constant roller coaster ride. Having large amounts of money at your disposal to spend, save or invest is what you live for and make you happiest.

Common behaviors of Speculator/Amassers:

  • High-risk investor
  • Always involved in Networking Marketing job
  • Real Estate Investors

Advice for Speculators/Amassers:

Although there is nothing wrong with investing, try to invest in other areas than the stock market. Try investing in your family, friends, or the less fortunate. Make a true difference in someone else’s life and you will find that is when you are the happiest.

You will most likely find yourself having more than one of these personalities and that’s perfectly normal. I would like to consider myself as a hoarder and spender because I pay extra close attention to my families finances wanting to make sure we have enough just in case something goes wrong and for our future, but I also find myself going to Macy’s seeing a cute shirt and having to buy it.

So, what’s your money personality?

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