A person’s money personality type is based on experiences that shape attitudes, beliefs, and perspectives that influence their decision making when it comes to money. These experiences take place as early as childhood and can continue throughout a person’s life. A person’s money personality type is not set in stone, and as was mentioned earlier can change based on different experiences. It can also change due to education and the taking on more financial responsibility. Being aware of your money personality type can help you lean on strength and work on weaknesses to help ensure that you meet your financial goals. Below is a list of money personalities. You may identify with several. It is not unusual for a person to share characteristics of several different personality type or realize that their money personality type has changed over the years.

  1. THE SAVER

The saver prefers to save money instead of spending it. They set aside large portions of income for future needs or emergencies. The saver does not need a specific goal to save, they receive gratification from saving money and seeing it grows.

  1. THE SPENDER

The spender enjoys spending money on services, goods, and experiences. The spender tends to not concern themselves with future financial stability. They live in the moment with the money they have in hand with anticipation of their next paycheck.

  1. INVESTOR

The investor is a personality individuals adopt when they have more experience in life. They focus on growing the money through investments, real estate, stocks, or business ventures. They tend to be knowledgeable about financial markets.

  1. THE DEBTOR

The debtor frequently finds themselves in debt, often spending more than they earn and struggling to manage their financial obligations. Debtors often find themselves in a cycle of paying off or settling debt only to find themselves back in debt in a short time.

  1. THE AVOIDER

Due to lack of interest or a negative experience the avoider tends to ignore financial matters, avoiding budgeting, planning, or even looking at their bank statements.

  1. THE GIVER

The giver prioritizes using their money to help others, whether through charitable donations, gifts, or supporting family and friends. 

  1. THE SECURITY SEEKER

The security seeker views money as security and stability. They often prioritize saving for emergencies, and retirement. They also take advantage of insurance to protect against unforeseen events.

  1. THE RISK TAKER

The risk taker is willing to take significant money risks in hopes of high returns, often engaging in speculative investments or business ventures.

  1. THE HOARDER

The Hoarder obsessively saves money and is reluctant to spend it, sometimes to the detriment of their quality of life.

  1. THE MONEY MONK

The money monk views money as a necessary evil and often prioritizes non-materialistic values, such as spiritual or personal fulfillment, over financial wealth.

  1. THE NOVICE or THE UNINFORMED:

The novice or the uninformed typically lacks knowledge and understanding of financial concepts budgeting, investing, saving, and managing debt. They might feel overwhelmed by financial decisions and are often unsure where to start when it comes to managing their money.

BELOW IS A SURVEY THAT WILL HELP YOU DETERMINE YOUR MONEY PERSONALITY TYPE:

Instructions: For each statement, select the response that best describes your typical behavior or feelings about money. At the end of the survey, you’ll find out which money personality type you most closely align with.

Scale:

1 – Strongly Disagree

2 – Disagree

3 – Neutral

4 – Agree

5 – Strongly agree

Questions:

  1. Saving & Security
    • I always set aside a portion of my income for savings.
    • I feel anxious if I don’t have enough savings for emergencies.
    • I prefer to save money rather than spend it on non-essential items.
    • I have a solid financial plan for the future, including retirement.
  2. Spending Habits
    • I enjoy spending money on things that make me happy.
    • I often find myself making impulse purchases.
    • I rarely worry about the cost when buying something I want.
    • I believe in enjoying my money now rather than saving it for later.
  3. Investment & Risk
    • I actively seek out investment opportunities to grow my wealth.
    • I am willing to take significant financial risks for the chance of high returns.
    • I keep up-to-date with financial markets and investment strategies.
    • I prefer investing in stocks, real estate, or business ventures over keeping money in a savings account.
  4. Debt & Borrowing 
    • I often find myself borrowing money or using credit to cover expenses.
    • Managing debt is a constant challenge for me.
    • I sometimes spend more than I earn.
    • I rely on loans or credit cards to maintain my lifestyle.
  5. Financial Avoidance
    • I avoid looking at my bank statements or financial accounts.
    • Thinking about money stresses me out, so I ignore it.
    • I don’t keep track of my spending or budget regularly.
    • I prefer not to deal with financial planning or management.
  6. Generosity & Giving
    • I enjoy giving money to friends, family, or charities.
    • Helping others financially is more important to me than saving for myself.
    • I frequently make donations or provide financial support to those in need.
    • My spending habits reflect my desire to support others.
  7. Knowledge & Confidence
    • I feel confident in my understanding of financial concepts and management. 
    • I often seek out information and resources to improve my financial literacy. 
    • I am comfortable making financial decisions on my own.
    • I know how to create and follow a budget effectively. 
  8. Inexperience & Uncertainty
    • I feel overwhelmed by financial decisions and don’t know where to start.
    • I lack understanding of basic financial principles like budgeting and saving.
    • I often rely on others for financial advice or decision-making.
    • I am unsure how to manage my money effectively.

Scoring:

The Saver: If you scored mostly 4s and 5s in Saving & Security.

The Spender: If you scored mostly 4s and 5s in Spending Habits.

The Investor: If you scored mostly 4s and 5s in Investment & Risk.

The Debtor: If you scored mostly 4s and 5s in Debt & Borrowing.

The Avoider: If you scored mostly 4s and 5s in Financial Avoidance.

The Giver: If you scored mostly 4s and 5s in Generosity & Giving.

The Security Seeker: If you scored highly in Saving & Security and Knowledge & Confidence.

The Risk Taker: If you scored highly in Investment & Risk and Debt & Borrowing.

The Hoarder: If you scored highly in Saving & Security but low in Spending Habits.

The Money Monk: If you scored low in Spending Habits and high in Generosity & Giving. 

The Novice: If you scored Mostly 4s and 5s in Inexperience & Uncertainty.

Results:

Review your scores to identify which category you align with most. Understanding your money personality can help you make better financial decisions and improve your overall financial well-being.