Having said that, we are all unique individuals with varying personalities that also influence our decisions. At some point in time, we’ve all filled out one of those online personality tests – did you know the same can be done to determine your financial personality? Your financial personality type will help determine your overall approach or emotional responses towards money in general.

Want to find out your financial personality type? Never fear, we’ve got you covered!

Compulsive Spenders:

One of the major signs that you are a compulsive spender is that you tend to spend your money on things you don’t necessarily need. This is usually a result of your outgoing personality combined with your love for treating people close to you to something special, even for no reason other than to make their day that bit better. However, during times of stress, you tend to spend your money unnecessarily as the immediate gratification serves as your coping mechanism.

That brings us to the downsides of being a compulsive spender. Firstly, even if compulsive spender finds themselves in large amounts of debt, they will continue to go on shopping sprees and even hide their purchases from friends and family. In some extreme cases, bankruptcy can be a likely scenario compulsive spenders find themselves in as they continue to spend more than they earn.

If you relate to this spender, do not fear as we have some good advice to help you along your journey to change your habits. Try drawing up a budget plan – this will allow you to see your finances from a different perspective. You could also remind yourself that purchases that are not necessities (such as buying a new car when your current one works fine as is) will result in you sacrificing finances that could be used towards your retirement, or even paying off your debt.

Compulsive Savers:

Compulsive savers tend to possess the ability to put money away endlessly, without having a saving goal in mind in some instances. As a saver, you believe saving money is the only way to make yourself feel more secure overall in life. As a saver, your friends tend to come to you often for advice regarding the best value for money/cheapest options of purchases they are considering.

One of the downsides to being a compulsive saver is that you become so hesitant about spending your money that you could go your entire life without spending any of the cash that you worked so hard to save.

Our advice for compulsive savers is short and sweet: Everything in moderation. Educate yourself on how to find a good balance between saving your money and enjoying your life.


One of the most common signs that you are a shopper is that you experience a great deal of emotional satisfaction from spending money. More often than not, they cannot resist spending their money, even on items they don’t need. However, unlike a compulsive spender, shoppers are aware of their addiction and worry about the debt it creates. Shoppers also hunt for bargains and are very happy when they come across a few.

Our advice for shoppers: Creating a budget plan will help you see things from a different perspective. Give yourself a cooling-off period whereby you refrain from making any unnecessary purchases.

The Ostrich:

The Ostrich refers to someone who would rather bury their head in the sand than organize their finances properly. These individuals often fail at making long-term investment decisions, leaving everything down to luck.

Our advice for Ostriches: Ostriches should generally try to take their heads out of the sand, even if it is a slow process at first. They should dedicate themselves to further understanding and bettering their finances to better their lives in the future.


Being able to identify your financial personality type is useful as the varying personalities are able to find the approach to aspects such as investing, spending, saving, and the overall management of their finances. This will help you better understand yourself and have more control over your finances for the future.