Do you know your spouse’s money personality?


One of the ingredients for a healthy relationship is money management and understanding the way your partner views money. Such knowledge is crucial, because if ignored, it will lead to fights and arguments about money.


Money personality comprises an individual’s thoughts, ideas, characteristics, behaviours, attitudes, and habits to and with money. The study of personality types is primarily for social classification, but can be useful in understanding the reason for individuals’ behaviour to money and money management.


In the book, “The 5 Money Personalities: Speaking the Same Love and Money Language” by Bethany and Scott Palmer. There are five major money personality types. If the couple has opposing personality types, they might argue about money. But handled the right way, knowledge of these different personality types balance each other and lead to a successful financial life together. Below are the 5 financial personality types:



These believe money is for spending and have no trouble dishing out cash. They spend more than they should or live above their means. They are caught up in the moment or always see something they “have” to have. They usually spend first, think later. On the positive side, spenders tend to be generous with friends and support charitable causes.



Savers naturally love to get a good deal. These good bargain-hunters spend more of their shopping time comparing prices and consider it improper to pay full price for anything. There is a clear difference between a saver and spender. On the negative side, they don’t value their time.  At best, they can be resourceful and creative, and lead a lifestyle that’s not focused on material possessions.

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Here is a personality type that places security and planning as primary concerns. They take their time to look for safe investments, then plan and research before making any big purchases. This attitude results from their high priority on feeling financially stable. Risk-Averse personalities can help a family maintain solid financial footing. At worst, they may miss opportunities for growth due to concern about risk.



Imagine one who thinks money is all about the thrill and drill of the chase. They take big risks when they sense a potentially big win, and they’re propelled more by gut feeling and optimism than by details and analysis. At best, Gamblers may suddenly increase their wealth with a winning investment. On the other hand they may lose it all.



Lastly, the flyers generally are the “doesn’t pay attention” personality type. They simply don’t think about money at all. They are equally happy with a little or huge bank account balance and they concludes that those who think too hard of money (the Savers and Risk-Averse) are a little obsessed about money.


While going through the above categories, please note that most people have a dominant and secondary personality type. If you felt drawn toward two categories, this could be the case for you.

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