Exploring and Improving Your Money Personality

Exploring and Improving Your Money Personality

When it comes to managing your money, you may find that you have a ‘money personality’ - that is, the manner of dealing with, spending, and saving your money. 

Understanding your money personality is an excellent way not only to gain insight into how you view money and your own assets, but also how you can work towards improving your financial practices to get ahead.

Remember, if you ever feel unclear about your financial priorities and your spending and saving habits, it’s best to approach a licensed financial advisor.

Unpacking the 4 Money Personalities


‘Spenders’, as their name implies, are people who prefer to buy for short-term satisfaction. You might regularly see them shopping the latest fashions or splurging their hard-earned cash on entertainment and fun. Spenders may struggle to save and set aside cash for important expenses.

If you’re a spender, consider learning to budget - this doesn’t mean that you have to track the destination of every cent, but rather creating a monthly game plan for your finances which can help you develop an idea of what you can afford. Creating a budget can also help you develop a list of financial priorities and guide you as to where and what you should spend more or less money on. If you need help to get started, why not check out our monthly budgeting template?


In contrast to Spenders, 'Savers' only spend their money conservatively and pride themselves on rarely buying what they want, and the value of their savings account. While these savvy saving habits can lead to a long and happy life with a strong cash flow, money also exists for entertainment and comfort - and budgeting responsibly can help you have fun while still keeping your funds secure.

If you’re a saver, consider dedicating a set amount of income towards your savings and investments to ensure that your need for financial security is met. You can similarly set a dedicated budget to entertainment each month, which will empower you to spend on comfort, fun, and entertainment each month in a responsible manner.


'Debtors' frequently find themselves borrowing money - whether on revolving credit, or from friends and family. Often, they may find themselves using one means of credit to settle another outstanding debt, rather than focusing on progressing through their financial journey.

If you’re a debtor, the first thing you should do is to ensure you understand more about credit, and prioritise repayments on your credit accounts with the highest level of interest. Be sure to pay yourself first (that is, settle existing debts before saving or investing), and manage your money expenses to ensure that you can always afford your next repayment.


'Investors' value investing their money on opportunities that will benefit them financially, and prefer to place their money either in long-term trust accounts or invest in riskier, high-growth opportunities. Investors might often prefer to place their cash on their latest project, rather than commit to saving an amount of their income as well.

If you’re an investor, consider backing up your investments with actual savings - should a ‘rainy day’ come and the value of your investment depreciates, you would still have a savings account to fall back on. Remember as well that the key to successful investing is to understand the level of risk you’re willing to take on. 

Unsure of your money personality? Questions to ask yourself

If you’re getting started on your financial journey or often find yourself confused or seeking out advice on how to manage your money, you might not have yet discovered your own money personality. That’s ok!

Asking yourself serious questions - and keeping your priorities and goals in mind - can help you develop a sound game plan, understand your own views and insight on money, as well as identify areas where you can learn more and improve.

Are you a Spender or Saver?

Do you often find yourself spending cash without checking your balance? If so, then you could be a Spender. However, if you thrive on saving money in a savings account, you may well be a Saver.

Do you pride yourself on security, comfort, or experiences?

If you frequently find yourself splurging on comfort, experiences, or entertainment, you could be a Spender - however, if you have excess money at the end of the month, you may be a Saver or an Investor.

How much debt do you have?

Do you frequently borrow from friends, family, or lenders to settle existing debts, such as store accounts or personal loans? If so, you could be a Debtor.

Do you have a detailed budget?

Savers and Investors often keep a detailed budget and ledger of their income and expenses, but Debtors and Spenders may not. Remember, keeping a healthy budget empowers you with a financial game plan; and your money personality should determine what your area of improvement should be.

What are your money values?

Do you see money as a tool to build a sound and secure future? Or do you see money as a means to access the latest experiences or buy into the latest trends? This can often be the difference between being a Saver or an Investor, or being a Debtor or a Spender.

What are your aspirations?

Exploring your goals and dreams is a great way to gain insight into your money personality; whether you pride yourself on keeping up with the latest trends, staying secure, or saving cash conveniently can easily guide you to understand the way you view money.

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