Have you ever considered how much the way you relate to money impacts your finances? Everyone has their own distinct money personality that shapes their feelings, habits, and behaviors around money. Being aware of this and getting to know your money personality can help you embrace your strengths, recognize your shortcomings, and make more informed financial decisions.

Your money personality is the compass that guides every financial decision you make, from spending and saving to investing. Knowing your money personality can help you create a financial strategy that aligns with your values and goals. This doesn’t mean you need to change yourself; instead, use self-awareness to steer your finances confidently.

What’s Your Money Personality?

Discovering your money personality isn’t a rigid science, and there’s no need for a test to find the right answer. In the following descriptions, you’ll likely see reflections of your primary money personality or perhaps a blend of them. If it’s not clear, feel free to ask a trusted friend or family member for their perspective.

The Guardian

This individual is careful with every penny and is adept at finding ways to save and accumulate wealth. They are mindful of spending and often feel most at ease when they can avoid what they see as unnecessary expenses, allowing them to cherish the value of hard-earned money. It can be challenging to convince them to enjoy the fruits of their labor or be generous with loved ones. They may choose to prioritize savings over indulgences or even self-care, even when resources are abundant.

Guardians tend to be cautious about financial risks, often preferring the safety of savings accounts or money market funds over the uncertainties of the stock market. They see value in safeguarding their wealth, perhaps sometimes overlooking the potential impacts of inflation. Their prudent approach positions them well to face any financial challenges life may throw at them, but it can also create artificial daily hardships as they forego spending on items many would consider necessities.

The Spender

The Spender is someone who finds joy in acquiring and sharing. They see spending as a way to enjoy life to the fullest, cherishing the happiness derived from various products, services, and experiences. They often generously treat friends and loved ones to gifts and outings, expressing their love and kindness through their giving nature.

Spenders may hold substantial debt and maintain minimal savings or investments. Or, they may be ambitious in their career pursuits, seeking more to enjoy life’s pleasures, and may be open to riskier investments with higher potential payouts, viewing financial avenues as exciting opportunities to enhance their life further. 

The Delegator

This individual often feels overwhelmed and apprehensive when it comes to finances. Dealing with account balances, bills, or financial mail can evoke anxiety, sometimes leading to overlooked due dates and late fees or continuing to pay for unused subscriptions. Planning, budgeting, investing, and keeping up with financial documents aren’t usually their strong suit, and this may be reflected in their financial and credit status, even if they are earning plenty of money.

The Delegator prefers entrusting their financial management to others, whether that’s a parent, a spouse, or a professional financial advisor. Sometimes, this is because of previous stressful experiences, and it’s simply a matter of considering money an inconvenience that gets in the way of enjoying life.

The Minimalist

This individual associates money with the idea that it can create more problems than solutions. They believe that a world less focused on materialism would yield more joy and contentment. Living a minimalist lifestyle, they prioritize time, relationships, and passions over financial accumulation. 

The Minimalist may be a modest but generous individual driven by altruistic values. Whether they have very little money and struggle to make ends meet or have abundant financial resources, their focus is on something other than the accumulation or retention of wealth.

The Strategist

This individual perceives financial hurdles and limitations as puzzles waiting to be solved, and they are constantly looking to come up with solutions. They tend to be resourceful and laser-focused on achieving their or their family's goals. Whether they must make sacrifices, cut corners, go into debt, get a second job, or find innovative ways to make more money, they pride themselves on reaching financial goals.

However, The Strategist sometimes focuses on short-term goals and loses sight of the bigger picture. They may find their resources strained and live paycheck to paycheck, all in pursuit of sustaining a certain lifestyle or having the things that matter to them at the moment rather than considering long-term needs.

The Achiever

The Achiever sees money as a pivotal tool for creating a life of joy and satisfaction. With a focus squarely on increasing their earnings and growing their wealth, they pursue wealth creation with unwavering determination. They are highly driven in their careers, aim to put their money to work through aggressive investing, and are motivated to learn how to make shrewd financial decisions.

They may enjoy quality, luxury, and “the good life” but tend to be careful with their spending. Even if they are currently earning a modest income, they are inclined to save what they have—not out of fear but with the intention and expectation that they will figure out how to improve their financial situation over time.

Shaping Finances Through Self-Awareness

Money personalities are neither good nor bad, simply reflecting our inherent attitudes towards money, but the behaviors they drive can sometimes lead to financial decisions that are not in our own best interests. Fortunately, self-awareness can help you leverage your financial strengths and address your challenges effectively. Working with a professional financial advisor can provide you with a balanced, independent perspective while helping you avoid biases, make well-informed decisions, and bring out the best in your money personality. 

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