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What is your money personality?

Just like the famous MBTI test, we also have certain traits we portray when handling money. This is known as money personality! In today’s blog, I will be sharing 4 of the more common money personalities and some money advice to each of these categories! Knowing your money personality is essential to building good money habits as you can better rationalise how you value money and avoid potential financial pitfalls.


If your peers constantly call you frugal and come to you for any good deals, you probably fall under this category! It's important, though, not to fall into the trap of thinking you're a Saver when you make unnecessary purchases that are on sale and think the money is well-spent. People with this misunderstanding often put focus on the amount of money they have saved with promotions, instead of how much they have spent in totality. If you still identify yourself as a saver, give yourself a pat on your shoulder for not succumbing to your temptations. This strength of yours can help you to plan for bigger purchases in the future.

Nonetheless, being a compulsive saver may not be the best! Compulsive savers are individuals that save every penny at the expense of their enjoyment in life and feel guilty for spending on themselves. A piece of advice for this group of people would be to set a “Fun” budget at the start of the month and allow yourself to indulge in good things as long as it is within your means. It is crucial that you treat yourself well for all of your hard work at school or at work as it motivates you to strive harder.


The exact opposite of saver! Excited to spend, but regret shortly after making the purchase? Spending mindlessly without keeping track of your balances? Realising you have overspent only at the end of the month or when you need to pay for a necessity such as food? If you answered “Yes!” to the 3 questions above, you are probably a Spender! You tend to spend your money when you are feeling distressed and are often an advocate for retail therapy! Such impulse purchases are not only limited to pricier items such as the latest sneakers but can also be in the form of smaller purchases. Small purchases may seem harmless but collectively they can be totalled up to something massive! One example will be spending in Daiso where products are priced cheaply at $2! Before you even realise it, you will already be carting 15 items from there!

Although it is never wrong to spend your own money or allowance, you would be in a better place if you put more conscious thought into what you are buying! Having such awareness is often made more difficult with shopping platforms trying to be more prominent than ever. Hence, a practical piece of advice I would give is to pay for yourself first, which suggests allocating money for necessity and savings before spending! To curb your online spending temptations, you can also hide online shopping apps away from your home screen or wait a few days before carting your desired items to ensure that what you are going to buy is truly useful.

The Indifferent-to-Money

Money worries had never occurred to you, and having to plan for your finances is usually a headache! Most younger readers may fall into this category as you are still dependent on your parents for allowance and need not pay for the bills. As a result, you don’t find a need to dwell on understanding how to make your money work! This may also stem from your parents not wanting you to worry about the house’s financial situation so you can focus on your studies. Nonetheless, it is always good if you can start to take more control of your finances. You can do so by tracking where all your money is going and where your bigger purchases are coming from. Remember! No effort is too small!

Money Guru

My idols! These are people who are well-informed with their finances and have a clear vision of how they can achieve financial freedom in the future. They have a good sense of their financial plans and tend to invest rather than letting their money sit in the bank and making it lose to inflation. Besides, they will make every effort to keep themselves updated with any new information that can affect their finance management. This is what most people planned to work towards. If you recognise yourself as a Money Guru, you are doing great as not everyone is as woke as you are and your efforts will pay off in the future! As a good friend, you can always encourage your peers to make better financial decisions and create a positive environment for them to work towards their individual goals!

Although Money Guru may seem to be the ideal money personality trait someone ought to have, there is no right or wrong to each personality trait. Such characteristics usually stem from your family upbringing and the environment you are placed in. This list is also non exhaustive and many people may find themselves having overlapping personalities. As a guide, we hope that this blog can shed some light on how you typically handle your money and this can be a starting point for you to work towards having a better financial plan! That being said, don’t be too stressed out wanting to change and learn everything overnight! Simply reading this blog is your baby step in recognising that you have room for improvement!


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