Which of These 5 Money Personality Type Describes You?

When people hear topics on saving money, they try to avoid it because basically saving is not really easy, every year everyone writes down a resolution on saving more but this does not last even past the second month of the year due to habits that we have instilled on how we spend our money.

When it comes to personal finance, there are various interesting characters that are defined based by their saving habits.

1.  The Spenders

Spenders believe money is meant for spending and have no trouble parting with their hard earned cash. Sometimes they spend more money than they should or live above their means because they get caught up in the moment or see something they “have” to have.

They usually spend first, think later. On the plus side, though, spenders tend to be generous with their friends and support charitable causes with ease, most of them live on the principle of ‘live like it’s your last day’.

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2. The Savers

Savers love to get a good deal.They are the aged men with several apartments in Nairobi but will never buy a personal car for their own use,they defend their stingy actions with claims that they are keeping their bodies fit by walking for long distances to their destinations.

They are the bargain experts, they compare prices and hate to pay full price for anything, rarely will they buy anything online since they is no room for bargaining.They want to see the product physically as they bargain. As easy as it is to get Spenders to part with their money, it’s equally hard to get Savers to part with theirs.

At their worst, Savers can be viewed as cheapskates who don’t tip servers well or skip out on their portion of a shared bill. At best, however, Savers can be resourceful and creative, and they role-model a lifestyle that’s not focused on material possessions.

3. The Risk Averse Personalities

Risk-Averse personalities place security and planning as their No. 1 concerns. They prefer proven, safe investments and like to plan and research before making any big purchases.

They view money as a tool that generates security. Their hesitation to part with money or seek out investment opportunities comes from their high priority on feeling financially stable. At best, Risk-Averse personalities can help a family maintain solid financial footing, however they may forgo opportunities for growth due to risk concerns.

4. The Gamblers

Gamblers think money is all about the thrill of the chase. They’ll take big risks if it means a potentially big payoff, and they’re driven more by optimism and gut feeling than by details and analysis. At best, Gamblers may dramatically increase their wealth with a winning investment.

At worst, however, Gamblers may lose it all,a good example is the betting soldiers who place their money on football betting sites after ‘analyzing’ football games, it is a 50/50 deal and that how the entire gambling form of investment s entails

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5. The Flyers

Flyers are best described as the “doesn’t pay attention” personality type. These people simply don’t think about money at all. They don’t view money as a tool that creates security, status symbols or anything else.

They’d be equally happy with a tiny or massive bank balance, and they believe that other people think too hard about money. They only focus on their 9-5 jobs and get paid and are contented with their day jobs.

What kind of money spending habit character are you?