What is Your Money Personality?

Have you ever wondered why your finances are the way they are? Your background, financial education, and salary play a part, but they aren’t the only factors. Your personality type can also determine how you handle money.

Not sure what your money personality is? Keep scrolling to learn more about the five big types. Understanding your type can help improve your relationship with money and achieve your goals.

1. The Debtor

The debtor personality type is the most likely to spend their money without following a budget. This is a crucial mistake for anyone, regardless of their age, expenses, or salary.

A budget is a spending plan that helps you prioritize your cash to cover all your essentials before cutting loose and enjoying non-essential spending. Without this plan, it’s easy to lose track of what really matters and prioritize the wrong things.

Next thing you know, you’re flat broke and waiting to get paid.

Unfortunately, emergencies don’t behave politely; they might arrive without any warning when you’re least prepared. You can wake up to a cracked windshield or a broken taillight, and payday’s still weeks away.

If you don’t have any savings as backup, you might need to take out an online cash installment loan or line of credit to get your car back on the road.

You can find these online loans at MoneyKey fairly easily with quick and convenient applications, making them ideal in time-sensitive situations. However, a financial institution such as MoneyKey only recommends online loans in emergencies — one-off situations when you don’t anticipate an unexpected expense well enough.

The debtor, however, dips into these online loans more often than is recommended. Rather than emergency backup to savings, online loans become the only way this personality can handle unexpected expenses. In the worst-case scenario, they take out a line of credit for non-urgent, fun spending.

Nobody likes to owe money — not even this first personality type. The debtors of the world owe money in cash installment loans, credit cards, and lines of credit because they make a critical budgeting mistake.

It doesn’t even have to be intentional overspending. If you don’t think about your finances enough, you can find yourself needing help.

2. The Spender

The spender personality loves to spend their money on ostentatious displays of wealth. Novelty and quality are both driving forces behind their spending style. They want the latest and greatest, and they aren’t afraid to drop a lot of money to get it.

You can usually spot the spender out of a lineup because they gravitate toward brand names. They also strive to be on the cutting edge, so they may replace their cars, smartphone, or wardrobe more often than the other personalities.

If you were to make a Venn diagram of the spenders and the debtors, they would share a large inner circle.

Since the spenders like to make a big splash with their money, they can also find themselves in debt. They might take on expensive mortgages to get the McMansion of their dreams; auto financing unlocks the newest models to park in their driveway; and they may even rely on a cash installment loan when they can’t afford an unexpected household repair.

However, spenders are a category on their own, so some spenders may be debt-free. They’re usually the ones who budget carefully to splurge on fun things.   

3. The Shopper 

The shopper’s personality is close relative to the spender. They, too, like to spend their money. However, they aren’t always trying to keep up with the Joneses. Sometimes, they spend their money for the sake of shopping, which can get anyone into trouble.

As mentioned above, unrestrained shopping (or spending without a budget) can wreak havoc with your finances. You can waste money intended for more important things, like bills or savings, and find yourself in need of an online loan.

Unlike debtors, the shopper has more oversight over their finances, so they’re more likely to be aware of their shortcomings. They might try to save money by shopping according to sales.

4. The Saver

The saver personality marks an abrupt shift from the previous three. Whereas shoppers, spenders, and (to an extent) debtors find a thrill in spending money, savers try to avoid it as much as possible. If you’re a saver, you would much rather hold onto every penny you can.

As a result, you may have a reputation for being a penny pincher. You aren’t afraid to sacrifice vacations, experiences, and material goods to achieve your goals. Instead, you might stick to staycations and shop used. You might even go to extremes to reduce your costs by cutting out coupons before shopping for groceries or unplugging appliances to save on phantom power

All that hard work finding deals means the saver is the most prepared in an emergency. They have the savings they need to handle unexpected household repairs, car trouble, or medical expenses without borrowing an online loan.

5. The Investor

The last personality on the list is the investor, who, like the saver, prioritizes financial security over fun spending. Unlike the saver, however, the investor wants their money to work for them. They aren’t willing to leave their savings in a basic account. Instead, they invest this money to earn as much interest as possible.

If you’re an investor, you spend time researching the market to find the best investments for your financial situation. You may not have huge wealth to throw at the Street, but what wealth you do have, you want it to be making a substantial return.

When done well, investments can ensure you can retire with confidence. You may even be able to retire early if you earn enough passive investments. However, the wrong investment decisions can harm your finances. Just ask anyone who lost money in the crypto crash.

What’s Your Personality Type?

Did any of these personalities resonate? You might have unlocked new information about yourself. Understanding your financial personality can provide insight into your spending habits, reactions to situations, and needs.

Take these insights to build a better budget that balances spending, saving, and investing.



Power & Money

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Adam runs the grooming section at Unfinished Man, where he reviews the latest hair, skin, and shave products for men. With a passion for men's grooming, he continuously tests shampoos, conditioners, gels, moisturizers, razors, and more. Adam provides knowledgeable, trustworthy recommendations to help readers upgrade their routines. His background in evaluating hundreds of products makes him an expert on finding the best innovations for every guy's needs.

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