What is your money personality type?

Like almost everything else in life, your response to money depends to a large extent on your personality. However, have you carefully considered your financial performance and how this behavior affects your bottom line?

Understanding your money character is the first step, and it will help you shape your consumption, savings and investment styles.

Five types of money personality

Personality characteristics about money can be divided into specific groups. This topic has been analyzed in a variety of ways, and many people can identify some of the contents of these money character profiles. The key is to find the type that best matches your behavior. The main characters are big money, savers, shoppers, debtors and investors.


I love beautiful cars, new gadgets and designer clothes. People with the “spending money” personality type are usually not bargaining shoppers; they are fashionable and always want to make a statement. This usually means the desire to have the latest and greatest cell phone, the largest 4K TV, and a beautiful home.

When it comes to keeping up with Jones, it is Jones. They are willing to spend money, are not afraid of debt, and often take great risks when investing.

Key points

  • It can be useful to understand the various personalities of money when finding the right investment, spending, savings, and overall financial management methods.
  • The five common types of money figures are investors, savers, big money, debtors, and shoppers.
  • Debtors and shoppers may spend more money than suggested.
  • When it comes to managing household funds, the personality traits of investors and savers may overlap.
  • Big-hands and shoppers usually have similar habits, but big-hands often don’t worry about debt, and shoppers may spend more time looking for bargains.


Savers are the opposite of big money. They turn off the lights when they leave the room, quickly close the refrigerator door to keep it cold, and only shop when necessary, and rarely use credit cards to shop. They usually have no debts and may be regarded as petty people.

Depositors don’t care about following the latest trends. They get more satisfaction from reading the interest on bank statements than from getting new things. Savers are conservative in nature, and their investments do not take great risks.


Shoppers usually experience great emotional satisfaction from spending money. They can’t resist consumption, even if it’s buying things they don’t need. They are usually aware of their addiction and even worry about the debt it causes. They look for bargains and are happy to find them.

Shoppers vary in investment. Some people invest regularly through 401(k) plans and may even invest in any sudden windfalls, while others see investment as something they will eventually get.

Money personality traits are not one size fits all, and people may have overlapping characteristics in managing finances.


Debtors will not try to make statements about their expenditures, nor will they shop to entertain or cheer up. They just don’t spend too much time thinking about their money, so they don’t pay close attention to how much they spend and where they spend it.

Debtors usually spend more than income and are heavily indebted without much consideration for investment. Likewise, they often miss the opportunity to take advantage of company matching in a 401(k) plan.


Investors are consciously aware of money. They understand their finances and try to use their money for work.

Regardless of their current financial situation, investors often hope that one day passive investment can provide enough income to pay all their bills. Their actions are driven by prudent decisions, and their investments reflect the need to take certain risks in pursuit of goals.

Change your money character

Once you have determined which of these personality types best describes you, and considered how you handle money, it’s time to see what you can do to make the most of what you have. Making small changes can usually produce big results.

Consumers: Shop less, save more money

If you like spending money, you are likely to continue to do so, but you should seek long-term value, not just short-term satisfaction. Before you splurge on something expensive or fashionable, ask yourself how much this purchase means to you in a year. If the answer is “not much”, skip it. In this way, you can try to limit your spending to what you actually use.

When you put your energy into savings, you have another chance to think long-term. Look for slow and stable returns, not high-risk, quick-win scenarios. If you really want to challenge yourself, consider the advantages of downsizing.

Savers: Use moderately

Ben Franklin once suggested “moderate everything.” For savers, this is a particularly good suggestion. Don’t let all the interesting parts of life pass in order to save a few cents.

Also adjust your savings efforts. A penny is not enough. Although minimizing risk is the main goal of any investor, minimizing risk while maximizing returns is the key to investment success.

Shoppers: Don’t spend money you don’t have

A key step for shoppers is to control their credit cards. Unchecked credit card interest can cause serious damage to your finances, so think twice before you spend money, especially if you need a credit card to make a purchase.

Try to focus your efforts on saving your money. Understand the ideas behind successful savings plans and try to incorporate some of them into your own ideas. If spending money is to make up for other areas in your life that you feel are lacking, think about what these might be and work hard to change them.

Debtor: plan your finances and start investing

If you are a debtor, you need to sort out your financial situation and make a plan to start investing. You may not be able to do it alone, so getting some help may be a good idea. Deciding who will guide your investment is an important choice, so please choose any investment professional carefully.

Investors: Continue to do a good job

Congratulations! Financially speaking, you are doing well! Continue to do what you are doing and continue to educate yourself.

Bottom line

Although you may not be able to change your money character, you can admit it and solve the financial challenges it brings. Managing your money involves self-awareness; knowing where you stand will enable you to change your behavior to better achieve your financial and life goals.


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