Money comes, money goes, and your name in between

How you spend your money and what it says about you. 

Decisions on how you spend your money can signal key traits about your personality. Despite the clash in cultures, immigrants also fit into particular personality profiles.

A survey of millions of consumers around the world revealed a strong correlation between spending habits and personality types.

Understanding your money personality is a big first step in learning how to manage your money. Here are the 5 personality types:

Big Spenders

Big spenders love nice cars, new gadgets, and brand-name clothing. People with a “spending” personality type aren’t typically bargain shoppers; they are fashionable and always looking to make a statement. This often means a desire to have the latest and greatest mobile phone, the biggest television, and a beautiful home.

When it comes to keeping up with the Joneses , big spenders like being the Joneses. They are comfortable spending money, often take big risks when investing, and are not afraid of debts.


How you spend your money

Savers are the exact opposite of big spenders.  They turn off the lights when leaving the room, close the refrigerator door quickly to keep in the cold, shop only when necessary, and rarely make purchases with credit cards. They generally have no debts and may be viewed as cheapskates.

Savers are not concerned about following the latest trends, and they derive more satisfaction from reading the interest on a bank statement than from acquiring something new. Savers are conservative by nature and don’t take big risks with their investments.


Shoppers often develop great emotional satisfaction from spending money. They can’t resist spending, even if it’s to buy items they don’t need. They are usually aware of their addiction and are even concerned about the debt that it creates. They look for bargains and are happy when they find them.

Shoppers are varied in terms of investing. Some invest regularly through their retirement plans or TSFA and may even invest a portion of any sudden windfalls, while others see investing as something they will get to eventually.


Debtors aren’t trying to make a statement with their expenditures, and they don’t shop to entertain or cheer themselves up. They simply don’t spend much time thinking about their money and therefore don’t keep tabs on what they spend and where they spend it.

Debtors generally spend more than they earn and are while not putting much thought into investing.

Similarly, they often miss taking advantage of the company match savings or pension plans. They believe in living for today and let tomorrow come when it will.


Investors are consciously aware of money. They understand their financial situations and try to put their money to work.

Regardless of their current financial standing, investors tend to seek a day when their passive income will provide sufficient income to cover all of their bills. Their actions are driven by careful decision-making, and their investments reflect the need to take a certain amount of risk in pursuit of their goals.

Where do you stand?

How you spend your money

Once you determine which of these personality types describes you the most and have put some thought into how you approach money, it’s time to see what you can do to make the most of what you have. Making small changes can often yield big results.

We all have a bit of each of the personality types. What you now need to do is work towards the stage where your money is working hard for you. Only then can you be its master.




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