What Your Spending Habits Reveal About You (And How to Fix Them)

Ever wondered what your bank account says about you? Is it whispering secrets about your love for last-minute treats, flexing your financial muscles, and showing off your money-savvy ways? Either way, your spending habits tell a story—one that directly impacts your financial future.

Welcome to the Wealth Wellness Series! Over the coming weeks, we’ll cover all aspects of what it truly means to be wealthy—beyond just numbers in a bank account. This series is designed to help you gain financial clarity, confidence, and control. And today, we’re kicking things off with a game-changer: your money personality.

“If you don’t know where your money is going, it’s going somewhere you don’t want it to.” – Someone Wise.

Your Money Personality: The Hidden Force Behind Every Pound You Spend

You’re unique—your financial habits are too. Your upbringing, experiences, and values shape your relationship with money. Self-awareness allows you to identify patterns in how you handle money, leading to more strategic financial planning. Whether you’re a saver, spender, investor, or avoider, these tendencies shape how you manage money. And until you understand your dominant money personality, you might keep making the same financial mistakes.

1. The Investor – The Wealth Builder 💰

You’re strategic, always looking for ways to grow your money. Stocks, property, index funds—you see them as opportunities, not risks.

Signs you’re an Investor:
✔️ You’re comfortable taking calculated risks for higher returns.
✔️ You research market trends for fun.
✔️ The idea of keeping money in a regular savings account bores you.

💡 Money Growth Tip: Keep diversifying. Investments thrive on balance—spread risk across different assets and ensure you have an emergency fund so you’re never forced to sell when the market dips.

2. The Saver – The Financially Cautious 🏦

You find joy in watching your savings grow. Discounts and budgeting are second nature and impulse buying? Not in your vocabulary.

Signs you’re a Saver:
✔️ You shop with a list (and stick to it).
✔️ Credit card debt? No thanks.
✔️ You may feel anxious when you spend money.
✔️ You tend to be cautious, methodical, and disciplined.
✔️ Your favourite app is your online banking account.
✔️ Fear of spending may stop you from enjoying life.
✔️ You don’t take any risk that could lead to greater financial growth.

💡 Money Growth Tip: Saving is great, but inflation is real. Consider investing a portion of your savings so your money doesn’t lose value over time.

3. The Spender – The “Treat Yourself” Expert 🛍️

Retail therapy isn’t just a phrase—it’s a way of life. You love enjoying your money now, often at the expense of future financial stability.

Signs you’re a Spender:
✔️ “Budget? What budget?”
✔️ The thrill of buying is unmatched—but so is the regret.
✔️ You have a love-hate relationship with your bank statements.
✔️ You prioritise immediate gratification over long-term savings.

💡 Money Growth Tip: Budgeting doesn’t mean depriving yourself. Allocate a set “fun money” amount each month so you can enjoy spending guilt-free while still saving and investing.

4. The Avoider – The “I’ll Deal With It Later” Type 😬

Money talk? Hard pass. You’d rather do anything than face your finances, even as unopened bills stack up.

Signs you’re an Avoider:
✔️ You ignore your bank statements because you’d rather not know.
✔️ You procrastinate paying bills until the last minute.
✔️ Budgeting stresses you out, so you avoid it altogether.

💡 Money Growth Tip: Set up automatic bill payments and use a budgeting app like Monzo or YNAB to track your finances without effort.

5. The Hoarder – The Over-Saver 🏚️

You save out of fear, not strategy. You rarely spend—even on things that matter—because you’re afraid of never having enough.

Signs you’re a Hoarder:
✔️ You skimp on essentials to keep your savings intact.
✔️ You avoid investing because of the perceived risk.
✔️ Spending—even for good reasons—makes you anxious.

💡 Money Growth Tip: Money is a tool, not a security blanket. Start by spending intentionally—treat yourself in small ways to ease the fear of using money.

Find Out Your Money Personality 🧐

Uncovering your money personality requires honesty and a bit of self-reflection. It is worth repeating this: How you handle money isn’t random—habits, emotions, and past experiences shape it. So, how do you figure out where you stand?

Track Your Money Habits

Keep a simple journal of your spending, saving, and investing decisions for one month. Pay attention to how you feel when you swipe your card, transfer money into savings, or resist (or give in to) an impulse buy. Are you excited? Anxious? Indifferent? These emotions reveal deeper patterns in your financial behaviour.

Take a Money Personality Quiz

If journaling isn’t your thing, a quicker way to get insights is through a money personality quiz. These assessments help pinpoint your financial strengths, weaknesses, and tendencies. They can highlight whether you’re naturally a spender, saver, investor, or a mix of different traits.

Get an Outside Perspective

Sometimes, we’re too close to our habits to see them. A trusted friend, family member, or financial coach can offer an outside perspective. A simple conversation can uncover blind spots and help you understand how your approach to money affects your financial future.

Your money personality isn’t set in stone—understanding it is just the first step. Once you know your tendencies, you can start making smarter financial choices that align with your goals.

Most of us have a mix of these traits, but usually, one stands out. Identifying your dominant trait is key to breaking bad financial habits and reinforcing good ones.

Personal Testimony: My Own Money Personality Wake-Up Call

I learned about money personalities the hard way. Like many, I thought sorting my finances was simple: cut spending, make a budget, save, invest—boom, done. Turns out, it wasn’t that easy. Despite my best efforts, I felt like I was taking one step forward and ten steps back.

Why? Because I was a mix of an Avoider and an occasional emotional Spender, I spend recklessly when emotional or stressed and then ignore the consequences until things spiral. My first budgeting attempts failed because I ignored the real issue—my habits. Whenever I faced any kind of stress, including financial, I turned to revenge spending (yes, that’s a thing) instead of dealing with the root problem. Lesson learned: You can’t out-budget a bad money personality. As my uncle TJ always says, “Softly, softly catch monkey”—some things need a slow, intentional approach.

Final Thoughts:

It’s important to know that although these are labelled “personality”, you can change. Self-awareness is key. Furthermore, understanding your money personality can enhance your financial relationships with others. Knowing each other’s financial habits and preferences can lead to healthier discussions about money, whether it’s a partner, family member, or friend. This can prevent conflicts and misunderstandings that often arise from differing money approaches.

Once you know your dominant money personality, you can start adjusting it for financial growth:

• Investors: Keep diversifying and rebalancing your portfolio.
• Savers: Consider low-risk investments to build wealth over time.
• Spenders: Use automation to save before you spend.
• Avoiders: Set reminders, automate bill payments, and break finances into smaller, manageable steps.
• Hoarders: Remember, money is meant to be used—find ways to enjoy your hard-earned cash while still saving smartly.

Bonus Tip: Get an accountability partner who will check your finances without judgment and hold you accountable.

<<<<< Related Topics: How to Stop Impulse Shopping >>>>>

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