What Are Money Personalities? When it comes to money, everyone has habits and tendencies that stem from their core beliefs about money. We call these tendencies “Money Personalities.” Each of us has a primary and secondary Money Personality. We also have one that we tend to hide. Learning about your Money Personalities can help you make smart money decisions, increase your net worth and build long-term wealth.
There are four major Money Personalities: Spender, Protector, Giver, and Investor.
The fact is, we have components of each of these personalities – no one is all Spender or completely an Investor. Every one of us has aspects of each type. Only when your money personality is balanced can you achieve financial success and be content with where you are, both now and in the future.
Each personality has its strengths and weaknesses. It might be difficult to see both sides of each personality.
Understanding where you fit will change how you view yourself financially—and it might even help improve relationships with family members who handle their finances differently than you do!
The Spender Personality
People with Spender personalities enjoy spending money on the people and things they love. They are less concerned about saving for tomorrow than their other Money Personalities counterparts.
They tend to spend impulsively, which can lead to overspending in certain situations. However, it’s important to note that a Spender personality doesn’t automatically mean you’re living beyond your means or constantly shopping—it simply means this is where you feel most comfortable financially when making financial decisions.
The challenge is, that all the moments, past and present, are connected, and our decisions can greatly affect our future. It’s bad to overthink, but spenders don’t think about it enough.
Of all the Money Personalities, Spenders are most likely to enjoy instant gratification now, but least likely to be safe and secure for their future. Living in the present and preparing for the future are both super important parts of healthy living, so to all you Spenders out there, how will you achieve both?
The Protector Personality
Protectors don’t let go of their money easily! Protectors save up before splurging and have a hard time enjoying today because they want more security down the road. This type might even consider themselves frugal while others may see them as cheap!
People with Protector Personalities are often budget-conscious, value security, and tend to be financially stable.
Protectors also enjoy the benefits of delayed gratification; they may not have the newest technology but their life is secure because money is saved for a rainy day! Ultimately, Protectors want peace of mind that if something happened tomorrow they could handle it. They might even save up just in case there’s an emergency or unforeseen expense down the road that needs to be paid immediately. It’s good to plan ahead so you don’t get caught off guard by surprise expenses. But this type can easily stay stuck saving more than spending so much so long-term goals are limited or nonexistent at times which isn’t healthy either!
The Giver Personality
Givers are team players! They enjoy helping others, especially family and friends. Givers often take on more than they can handle while trying to please everyone around them. This type is typically generous with their resources, but unfortunately, this generosity may come at a cost to themselves in the future when financial pressures mount.
People who identify as Givers tend to be selfless and committed to those they love: partners, children, siblings, or parents even though it might mean sacrificing some of their own needs and desires for theirs which isn’t always healthy either! When we feel like we don’t have enough time/energy/money ourselves it leads to resentment so find ways you can support your loved ones that also empower you too!
The Investor Personality
The investor is the Money Attitude that leads the most to growth. This is because good investing, at its core, is about learning. If Spenders value fun, Protectors value security, and Givers value connection, then Investors value freedom.
Investors leverage their money! They tend to be planners and enjoy long-term goals. These types of individuals know that saving up is worth it because they can see beyond today’s needs, wants, and desires.
People with this Money Personalities type often possess strong financial skills—from negotiating deals on cars or homes to regularly investing in order to build wealth over time. Investing isn’t only about your finances though it’s also about prioritizing what really matters most in life – family, community, friends etc…and doing more of that while still making time for yourself too! It may seem like an impossible balancing act but you can do both if you start by looking at your habits that are draining you.
Which Money Personality Are You? Take this Assessment
In 2018, while working predominantly with teens – we developed the first Money Personality Assessment. Users were given 10 scenarios and rated on how they would respond.
The insights were astounding. The Spender Personality was the primary personality for 48% of teens assessed. The Protector Personality came in at 29% and Giver Personalities came in at 13%. Only 10% were Investors!
We had a number of adults that the same assessment – and the numbers shifted dramatically — adults have more money and desire to be investors than most teenagers. So, we developed a test specifically for adults.
As of the writing of this article, over 3,000 people, ranging in age from 14 – 80, and at every financial stage possible, have taken our Money Personality Assessment.
Take The Money Personality Assessment to see which one you are.
You will receive a copy of Understanding Your Money Personality – a free Ebook that can help you understand how your Money Personality manifests itself in all aspects of your life and ways to enhance it at the conclusion of the Assessment.