What's your Money Personality Type?

Knowing your money personality can help you understand how to save more, make your money work for you, and make better financial choices.
Knowing your money personality can help you understand how to save more, make your money work for you, and make better financial choices.

By: Kaneisha Mitchell

Your personality helps shape the way you respond to money. Money personality is comprised of your thoughts, ideas, characteristics, behaviors, attitudes, and habits to and with money. Understanding your money personality helps you shape your approach to investing, saving, and spending.

Five Money Type Personalities

1. The Spender

We all know people who have the latest shoes, purses, goes on luxurious holiday trips, buy the latest technology, insist on picking up the tab at dinner, and loves brand-name clothing. These people are the Spenders.

They typically are not bargain shoppers; they are fashionable and always looking to make a statement. They value quality over price. The Spender has a nonchalant attitude when it comes to their approach to money. They can see value in spending a little bit more money for more convenience.

2. The Saver

Society coins them as "cheapskates." Savers always shop for a bargain and save money by any means. Spending money makes them feel uncomfortable.

The Saver likes to keep a close watch on their finances. They track their spending, weigh their options, and do extensive research before considering a purchase. They navigate consumption spending better than the average person. They have minimal credit card debt and shy away from big risk investments.

3. The Shopper

The Shopper has an emotional tie to receiving and spending money. They are the reason therapist use the term “retail therapy.” They justify the debt they create and are often unaware of their addiction to shopping. They cannot separate their emotions from their spending habits.

Some Shoppers invest in 401(k) plans regularly while others see investing as something on their future to do list.

4. The Debtor

These are people who have no idea what is going on with their bank account. The Debtor does not spend much time thinking about their financial situation.

They are neither flashy spenders nor take an active role in saving money. They are just trying to get by even when they consistently spend more than they earn. Similarly, Debtors miss taking advantage of the company match in their 401(k) plans and think little of investing.

5. The Investor

The Investor is extremely future-orientated and consciously aware of their finances. They understand their financial situation and put their money to work. Investors typically pay their bills on time, and their spending actions are driven by careful decision-making.

The end-goal is to earn more money, have great credit, or have passive investments that cover all of their expenses.

Bottom Line

You may not be able to change your money personality but you can acknowledge it and address the financial challenges that your money personality presents. Managing your finances involves self-awareness. In order to modify your behavior to better achieve your financial and life goals you must know where you stand on the money personality scale.


Hey… have you heard of my financial company, KM Financial Consulting (KMFC). KMFC provides you with the necessary tools needed to fix your relationship with money: from financial education, to money mindset, to managing assets, implementation strategies, and reducing financial risks.

At KMFC no matter your financial stage we have something to offer you. Book a consultation to start your journey towards financial freedom, lessening your financial stress, and the creation of generational wealth.

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