How to identify your money personality

Knowing whether you're a saver, spender, avoider, or builder can empower you to make smarter decisions, save money more effectively, and explore tailored investment solutions that align with your goals.

Let's dive into the different money personalities and how to leverage your strengths.

What’s your money personality?

The saver: always thinking ahead

Savers are conservative with their money: being risk-averse means they don’t make impulsive buys, and they know where every cent goes. Savers usually live within their means and are always putting money aside for the future or ‘just in case’.

• Strengths: You understand the importance of saving and having the discipline to reach your goal.
• Do it better: Don’t let life pass you by while you pinch your pennies. Make the most of your money with an account that gives you higher interest, such as a Tax-Free Call investment account or a MoneyMarket Select investment account, so your money can work harder for you.

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The spender: live in the moment

Spenders see money as a means to an end, something to help them enjoy what life has to offer and enjoy it now. Unfortunately, if you’re living in the moment, you’re less likely to be planning for the future. Spenders often live beyond their means and easily access credit to satisfy their lifestyle, which can get them into debt.

• Strengths: You understand that money isn’t the important thing in life; living it is, and money can facilitate that. You just need to reframe your focus from spending it impulsively to purposefully.
• Do it better: Get a handle on your spending and put some of that money towards saving. Download our Banking App and use the Money Movements and Save & Invest add-ons to keep track of your money and work towards your goals.

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The avoider: things will sort themselves out

Avoiders hide from their finances and don’t worry too much about money. Uncomfortable or intimidated by money, they tend to ignore the risks, not pay enough attention to their financial objectives and let others make financial decisions for them, which often lands them in financial trouble with things spiralling out of control.

• Strengths: Hiding from your finances and ignoring the consequences is always a bad idea, but with the right financial education and help, you can always improve the situation.
• Do it better: Stop hiding from your finances and your economic situation. Get educated about your finances and understand how financial tools, whether a credit card or savings account, will influence your financial health.

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The builder: the sky is the limit

Builders are focused on growing their wealth. They’re excited about creating money, saving money and investing money, and they enjoy the confidence it gives them. They have an attitude towards money that puts them at ease with taking higher risks, and they understand what is required for money to grow.

• Strengths: You have a strong desire to be the master of your finances, and you are willing to give up short-term gain for long-term wealth.
• Do it better: Take your growth global and talk to us about investment solutions to help you achieve your goals and build a diverse portfolio.

Did you see yourself in any of these personality types?

You might find that there are some characteristics that overlap. Try incorporating some of the focus areas for a more balanced approach. You can also contact one of our financial planners to help you make sense of available solutions to help you reach your goals.

_{Disclaimer: This article is solely intended for information. It does not constitute financial, tax or investment advice or recommendation. Please speak to a financial advisor or registered financial professional before making any financial decision(s).}

_{Standard Bank, its subsidiaries or holding company, or any subsidiary of the holding company and all of its subsidiaries make no warranties or representations (implied or otherwise) as to the accuracy, completeness or fitness for purpose of the information provided in this article or that it is free from errors or omissions.}