What’s Your Money Personality?

When you are planning to become financial independent, it is necessary to understand what type of money personality you have. This will help you win over common pitfalls with your personality and help you build better safeguards to ensure you don’t get off track when saving for your goals.

There are eight different money personalities. But while you can be a combination of multiple money personalities, each has its strengths and weaknesses. but it’s good to know what your personality type is..Olivia Mellan started the idea of money personalities. She is the.......


What are the different types of Money Personality?

Money Hoarders

The first personality is Money Hoarder. These people love to create budgets, and you can often find them tweaking or managing their accounts. They get anxious about spending money and can view regular everyday purchases as frivolous and unnecessary. As you can probably tell by my personal finance blog… I am this personality. Shamelessly.

This personality’s strength is having control over your money and being very conscious of how and when you spend money. The weakness of this personality is you might be stressin’ people out. Take a chill pill, relax, set up your auto-drafting for saving/investing, and let loose a bit.


The second personality we’ll take a look at is the Spender. These people enjoy buying things and indulging in things that provide them with immediate gratification. They find saving money to be difficult and may carry a lot of debt.

If you’re this personality type, your strength is knowing how to embrace life and seize opportunities as they come. You might even live with the mantra “When I die, I want to see all my money hanging in my closet.” Your weakness although, maybe delayed gratification. By working on your impulse spending, you may be able to start putting away a stockpile of savings.

Money Worriers

The third personality is Money Worrier. These individuals want to always know where their money is all of the time. You’ll catch them checking their bank accounts frequently. And shockingly, even if they have more money, it won’t lessen the worry.

This group’s strength is you always know how much money you have and gives you an appropriate guide point for what you can and should spend. The weakness of this group is you may be worrying yourself to death. Seriously, you put a money worrier and a money hoarder in the same room, and you sure know how to kill a party. Loosen the reigns, set up a budget to do the hard work, and sit back and relax.

Money Avoiders
Naturally, now we’ll cover the opposite of Money Worriers the Money Avoiders. These folks frequently pay their bills late and don’t have an excellent grasp of where their money is getting away to. These individuals may find money tedious or overwhelming. They can sometimes shy away from money altogether because they don’t feel equipped to make the right decisions regarding their finances.

The strength of this group is to understand the value of a meaningful life. People often get so consumed with the need to generate and produce more money we frequently miss out on opportunities to grow relationships with others or spend time on ourselves. These avoiders know there is more to life than money but haven’t quite figured out how to harness the power of money to live the life they always imagined for themselves.

Next are the Amassers. Aggressive name, huh? These individuals love to make money. They love watching their wealth grow and are continuously looking for new opportunities to increase their income. They quite often only feel fulfilled when they’re earning money and have a difficult time letting go of that money.

This group is the powerhouse of money-making. We should look to them to learn more about creating multiple streams of income and inspiration for motivation. They are all in, committed to this money thing. One thing to note about this group is their inability to part with money and their constant drive to work. This may prevent them from embracing long vacations or spending extended time with their loved ones or their adorable dogs.

Wrap Up
There are two other personalities we won’t cover today, but you get the gist of what they’re all about from their names – The Status Seekers and The Gift Givers.

The woman responsible for creating and defining these personalities is Olivia Mellan. She wrote the book on money personalities. If you’re interested in diving deeper into these personalities, I’d recommend picking up the book “Money Harmony: A Road Map for Individuals and Couples.” You can also take her online quiz to figure out which personality best fits yours.

As a final round-up for today’s post, let’s look back at all the personalities mentioned today.

Money Hoarders
Money Worrier
Money Avoider
Money Monk
Status Seeker
Gift Giver
Remember, you might identify with more than one of these personalities, and that’s okay. It’s best to know who you are at your core and how to navigate financial obstacles based on your personality. So what money personality are you?

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