What kind of financial personality are you?


The financial situation does not show signs of improvement over the next period, but you’re still tempted to spend everything you earn? Your spirit, the commercials, the mall panels, the latest gadgets that have appeared on the market – practically anything that catches your attention and sends your brain to buy something.

What’s the solution?

Psychologists are of the opinion that the mind can be “set” so you spend less. Each of us is a “financial personality”. While some people would have no retention in the waste of money, others would think twice before buying a thing and trying to save. And that’s because we all approach the budget in different ways, depending on the level of financial education we have and the living standards of the society we are in.

What does the money mean to you? How do you behave in a situation where you have to make a final decision (to spend, save, invest)?

By identifying your type of financial personality, you can make wiser decisions about how you spend, save and invest.

Personality # 1 – Saver

While some see the money as a source of beautiful things, Saver looks at them as a means of safety. No matter how much money a saver will have, he will always worry that any mistaken decision about money can ruin him.

Typical behavior of Saver:

– keeps much money;

– does not spend his money on luxury things or on pleasure;

– gathers money from one month to another, enjoying how much money he has saved;

– likes to invest (without risk) the money saved in things that make him profitable.

Recommendations for Saver:

In order to improve its financial future, the Saver has to take small steps towards an investment that also involves risks. Seeing that a “risky” decision does not necessarily lead to financial disasters, the Saver will become more relaxed, allow himself to make gifts, and explore other investment options that can make a profit of so agitated money.

Personality # 2 – Spender

Shopping is the typical behaviour of a Spender, which makes him feel important, satisfied and appreciated. The inner voice of a spender will always say, “I deserve to buy something after a hard day of work!” Whether or not he can afford Spender will buy that bag Louis Vuitton makes him feel fulfilled and respected.

Typical behavior of Spender:

– likes to spend excessively, even buying things he does not need (“Although I have 6 bags in the wardrobe, I deserve this new Louis Vuitton bag!”)

– shopping makes him feel important;

– does not miss any “bomb” offer, using all of its shopping cards.

Recommendations for Spender:

To control your expenses, you need to set and stick to certain limits. Keep track of purchases so you can see where you’re losing a lot of money and how you can cut costs. Set up a budget, give yourself a break (and the Vuitton mailbox, the same) and allocate a weekly cash for spending. If you have debts, take a credit card balance every month so you do not exceed the minimum ceiling.

Personality # 3 – Avoider 

The avoider does not feel comfortable when it comes to money. It is devoid of interest in this subject and believes there are other, more important issues. He may not even know the situation in his bank account, and planning for retirement, for example, is too far away to worry now. Because he does not tend to be informed about personal finances, the Avoider loses any opportunity to create financial security for a better future.

Typical behavior of the Avoider:

– When it comes to making a financial decision, it avoids the subject, invoking various reasons. In his own right, the Avoider thinks, “The less I know about the money, the better for me.”;

– feels uncomfortable when talking or thinking about money;

– leave the bills aside, having a feeling of fear to open them.

Recommendations for Avoider:

Change your attitude! Managing money is not so unpleasant as compared to others. Enroll in financial education courses and set your future goals in the short term. Make a simple saving plan and apply it to your goals, not to ignore them.

Personality # 4 – Financial Monk

The monk believes that money is bad and does not bring happiness. He is convinced that money is the root of all evil, so he does not manage, save or invest.

The Typical behavior of a Financial Monk:

– he will never ask for an increase in salary because that will make him feel greedy;

– believes that money destroys people’s moral and spiritual values; therefore, it avoids dealing with personal finances;

– when he has a large amount of money, he tends to donate or help his friends.

Recommendations for a Financial Monk:

Understand that money is absolutely necessary and not all the evil in the world. Money helps you to build a home, to support yourself, to help your friends, or to make charity. If you think your mission is to help others, then you could get some resources! Think your financial success is, in fact, a blessing.

Each of us is a financial personality and, at the same time, we hold the key to success through knowledge of education and prosperity.

What kind of financial personality are you?

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