4 money personality types: which one are you?

People develop attitudes and beliefs about money from a young age, and it continues to influence their perspective throughout their life. For example, Warren Buffett began his entrepreneurial journey when he was six years old by selling gum in his local community. He saved his first profit, and he’s still known for his frugal habits. 

It’s likely that you have a distinct money personality, too. You may not notice, but your money personality affects how you handle money and ultimately, how you live your life. Which one do you relate to the most?

The achiever

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Achievers are often driven by the desire to have the best or latest material goods and are not afraid to invest in themselves to achieve their goals. They tend to be ambitious and are always looking for ways to improve their financial situation.

Because achievers are very confident in their ability to earn, they often have a high-income earning potential. But it’s also easy for them to go overboard with their risk appetite. If you’re like this, here’s some advice for you:

  • Have a budget to not fall prey to impulse buying
  • Remember that material goods don’t define your worth as a person
  • Consider diversifying your investments

The enthusiast

Enthusiasts have a positive outlook toward money, and they use it to have new experiences and bring joy to others. They are usually outgoing and free-spirited in nature and even known as very generous partners and friends.  

But enthusiasts should be mindful of impulsive spending and make sure that their spending habits align with their long-term financial goals and aspirations. If you’re struggling to prevent budget burnout, they should:

  • Be strict with spending on most days
  • Have financial weekly cheat days where you buy things they’ve been wanting (within their budget)
  • Automate your savings
  • Have accountability partners to keep yourself on track

The custodian

Custodians prioritize stability and harmony with money. They prefer to have a clear understanding of their financial situation and tend to be organized with their finances. For better or worse (probably for the better), custodians are very cautious with their spendings, especially when it comes to making big financial decisions. They are not impulsive buyers and tend to stick to their budgets even in the face of temptations.

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Custodians don’t need financial advice, but they can benefit from a few lifestyle suggestions:

  • Try getting outside of your normal comfort zone
  • Sometimes, you need to spend to earn more
  • You can treat yourself and others while living modestly
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The analyst

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Analysts take a methodical approach to managing their finances. As a result, they have a clear understanding of their current financial situation while also keeping a long-term perspective for the future. They often have a budget and stick to it, which makes it easier to save for big purchases. 

However, analysts can be perfectionists and may get frustrated when things do not go as planned. Here is what can help them: 

  • Be open to new opportunities
  • Be flexible with your plan
  • Don’t be afraid to not get the desired outcome

How to use your money personality type to your advantage

It’s not a precise science, so you may come across other terms, like compulsive saver or spender, the indifferent to money, the warrior, or something else. Plus, as your financial circumstances change over time, so may your money personality. But whether now or in the future, you should always analyze your past behaviors to prevent repeating financial mistakes and encourage self-discipline and future investments. 

The ultimate goal is not to put yourself in a box but to understand your tendencies and emotional attachments to money. As a result, you’ll be making conscious choices rather than simply reacting to things that happen to you.


The Psychology of High Achievers, Walden University

What is risk appetite? TechTarget

The Principles of Personal Financial Responsibility, The Balance Money

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