Your money personality is how you think, feel and behave when it comes to money, and anyone who has ever tried splitting the bill with a group of friends is likely to know first hand how different money personalities can be.
Your money personality develops over your lifetime, and you’ll have taken elements from every experience you’ve had. One of the biggest influences on your money personality is likely to be how money was talked about and used around you in your early years.
We typically start to develop an understanding of money at around the age of three or four, so what was happening around you in these formative years is likely to have shaped how you use money today. Similarly, if you’ve had any particularly positive or negative experiences with money, it’s likely to have had an impact.
While your money personality is unique to you, there are some key personality types that you might see some similarities with, which we’ve grouped together here. No one personality is better than another, and all have their strengths and weaknesses. Although one particular personality might resonate with you more, it’s likely that you may have some traits from two or more other personalities, depending on your individual experiences.
A really useful exercise can be to have a look at the following personalities to see if any of them fit, and use them to explore why you hold these views. Maybe your family didn’t have much money when you were younger, so now you like to save more for a rainy day, or perhaps you enjoy spending the money you didn’t have in your childhood? Understanding the factors which have shaped your money personality may help you to navigate the impulses and thoughts you have around money and build a stronger financial future.