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Your money personality - better habits can help you save

Have you ever thought that your money habits may be determined by your personality? Identifying your money personality type can help you make better choices when it comes to spending, saving and investing.

What is your money personality?

Have a look at these basic personality types to help you identify where certain habits are getting you down and how you can manage your money better.

Big spender

Big spenders love expensive cars, new gadgets and brand-name clothing. They are not bargain hunters. Rather they like fashion and are always looking to make a statement. They are comfortable spending money. They are not afraid of debt and often take big risks when investing.


Savers are extremely conservative when it comes to spending. They shop only when necessary, looking for bargains, and rarely make purchases with credit cards. They are not concerned about the latest trends and are more interested in the interest on their bank statement than acquiring something new. They don’t take risks with investments.


Shoppers get emotional satisfaction from spending money. They can’t resist spending, even if it’s to buy items they don’t need. They may be aware of their behaviour and may even look for bargains, but for items they don’t necessarily need. Shoppers are varied when it comes to investing – some invest regularly, while others put it off for later.


Debtors don’t spend to make a statement, or for comfort. Rather they don’t spend much time thinking about their money and don’t keep tabs on their spending. They generally spend more than they earn and are in debt, while not putting much thought into investing.


Investors are consciously aware of money. They understand their financial situation and try to put their money to work. Regardless of their current financial standing, their goal is to provide for their future, where passive investments will provide sufficient income to cover their bills. They make careful decisions and take a certain amount of risk in pursuit of their investment goals.

Know your personality type? Now make that change

Once you have identified what type of personality you are, try make these changes:

Big spender: shop less, save more

When shopping, look at long-term value, not just short-term satisfaction. Before splurging on something expensive, think if you’ll still need it in a year. If not, skip it, lower your spending, and save.

Saver: use moderation

Don’t let all life’s fun pass you by, in the interest of saving. Spend but in moderation. When investing, remember that you need to take on a certain amount of risk to maximise your returns.

Shopper: don’t spend if you don’t have to

Take control of your credit spending. Think before you spend if using your credit card to pay. Focus more on saving the money you have. Develop a savings plan and stick to it.

Debtor: plan your finances and start investing

Take steps to get your finances in order and set up a plan to start investing. If you need assistance or advice, contact your financial adviser or a carefully selected investment professional.

Investor: keep up the good work

You are on the right path. Keep up the good saving and investment habits, while consulting your financial adviser or an investment professional where necessary.

For more information on how to change or adapt your savings and investment habits, speak to your Liberty Financial Adviser.

** Lisa Smith, `What is your money personality type?’, Investopedia, 22 May 2020,



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