What is your money management personality and how to get rich by using it

Jacob Rees-Mogg accuses Labour of poor money management

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The five money management personalities include spender, saver, shopper, debtor and investor, depending on what aspects or impulses drives someone to make certain financial decisions. Overriding these impulses can help stop someone from making the bad decisions that are affecting their financial wellbeing.

So, what personality type are you and what should you be doing to improve your financial health?


Spenders enjoying treating themselves through one costly purchase at a time, these money managers typically don’t bother with discounts or bargains but always look to make a statement through what they wear, drive and have.

They are very comfortable spending money and aren’t afraid of investment risks or debt.

The best way to curb a spender’s habits is avoiding the places where they can spend money, as well as a mindset change to seek out long-term value instead of short-term satisfaction.

Limiting one’s spending, and then adding that to a savings pot or investment will have the same effect as buying a new pair of shoes, except with the added benefit of not spending any actual money.


The exact opposite of spenders, savers are the type to shop only when absolutely necessary and can often have anxiety around spending money no matter the amount.

Generally seen as cheapskates, this personality type doesn’t mind what lifestyle they live and due to their conservative nature they typically avoid investing or will invest passively into low-rick investments over long periods of time.

Everything is in good in moderation, including saving. This personality often avoids living a full life because they are too focused on saving money.

It is important to remind them that good spending habits exist too and one can’t get decent returns by avoiding all possible risks.


These money managers get a rush of satisfaction while shopping which in turn makes them big spenders too.

However, the difference between spenders and shoppers is that shoppers are usually more conservative and fearful of things like debt and risk.

These savvy-shoppers find bargains and discounts and are usually aware of the fact that they have bad impulse shopping habits.

The dangerous aspect of shoppers is they may accidentally overspend beyond their means, by sticking to shopping lists and budgets this personality type can thrive financially very easily.


Debtors generally don’t pay much attention to their financial situation so will usually end up in debt accidentally.

These are the types of impulse buyers that spend more than they earn and aren’t always aware of the money saving programs, discounts and savings they could be making.

Debtors need to invest themselves into their financial wellbeing and make their risk levels more reasonable when it comes to investing.

Ensuring they understand their financial state and how much they are actually able to spend without going in debt is key to financial health for this personality type.


This personality type is incredibly aware of their financial situation and try to make their money stretch and grow as much as possible whilst not affecting their lifestyle.

Where shoppers feel a thrill in a store, investors enjoy watching the stock market rise and fall, they are also not afraid of taking risks if it means potentially achieving their financial goals.

Financially speaking, these money managers are in the most ideal head space to handle themselves on all fronts as they don’t usually overspend or over-save.

However, investors must be wary of investing more than they can afford to lose and must continually educate themselves in order to stay on top of their investments and finances.
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