Well, it seems everything people do can be traced to some sort of a personality type these days. In our relentless drive to categorize every single thing under the sun, people seem to have a need to pigeonhole things in order to get a handle on them.

Be that as it may, classifying and categorizing certain characteristics helps foster a deeper understanding of why things work the way they do — and how to realize improvements if needed.

So, let’s take a look at a few to see if you can determine which financial personality type you are.


These people believe money exists for the fulfillment of desire. Easy to spot, they tend to have designer handbags, expensive cars, fine clothing, the newest smartphone, an extraordinary home — and they aren’t looking for bargains.

They’re buying what they want when they see it — with few concerns about tomorrow, other than what they’ll find to want when that day comes. These people wield credit cards like blackjack dealers in Vegas because debt isn’t a concern for them. They also love to invest and always seem to come up with “21.”

These are “The Joneses” with whom others are trying to keep pace.


This personality type would rather sacrifice a limb than spend money frivolously. Completely unconcerned about the perceptions of others, they drive older economy cars, wear plain clothing and eschew restaurants over eating at home. They shop in consignment stores and thrift stores and keep the thermostat at 65 degrees in winter and 85 degrees in summer.

Their biggest satisfaction — or gratification if you will — comes from seeing the numbers in their savings account get bigger. These people typically grew up in households in which money was always a problem, so they’re not prone to take risks with it. As a result, they trust saving more than investing.


They have all the latest kit, but rather than buying based upon what their earnings will permit, they use credit to get it. These are the people who are always broke the day they get paid because their earnings have already been committed to keeping their financial obligations at bay.

Money is something to which they give very little thought, other than how to stretch their pay to cover all the debts they create. Saving and investing are foreign concepts to these individuals. These are also the people who stand to benefit the most from a debt management program — if you can get them to enroll in one.


Every financial action is taken with an eye toward the future. Aware of the difference between good debt and bad debt, they save for vacations and big purchases, such as appliances and cars. They have investment accounts, savings accounts, a retirement fund and an emergency fund.

Comfortable in their own skin, they buy only what they need and happily do so, knowing the day will come when their earning potential will be gone and the quality of their lives at that point will depend upon the decisions they make today.

In fact, they’re singularly aware of the fact the decisions they make today will also determine their ability to continue making decisions in their old age – rather than having situations forced upon them because they don’t have the wherewithal to continue to define their own destinies.

So, Which One Are You?

Stop for a moment and ponder this next thought before you answer that question. The best type to be is a careful blending of all of the above. After all, it’s perfectly OK to spend, gather and borrow — as long as you also plan.

We all deserve a comfortable life and have some fun.

That means spending as well as saving. There are times when it will mean borrowing, too. You’ll be alright if you’re doing all of those things within the framework of a thoughtful, intelligently crafted plan for your future.