Most people think money habits are set in stone. You’re either a saver or a spender. A hoarder or an investor. But in my work with hundreds of investors and professionals, especially women just beginning their financial journey, I’ve learned one truth: your money personality can evolve.
Think of it like your fitness level. You may start off slow, but with the right mindset and a few intentional changes, your financial health improves. The same goes for your money behaviour.
Let’s first break down the classic types:
5 Money Personalities—Which One Are You?
| Personality Type | Core Habit | Risk |
|---|---|---|
| Savers | Extremely cautious with spending | Miss out on enjoyment, under-invest |
| Shoppers | Shop for emotional highs | Tend to overspend and hoard stuff |
| Big Spenders | Spend to flaunt | Lack of savings, high credit use |
| Debtors | Spend impulsively, get trapped in loans | Long-term financial instability |
| Investors | Long-term focused, goal-oriented | Sometimes too aggressive or over-analytical |
The Analogy I Use with My Clients:
Your money personality is like your wardrobe. You might outgrow some styles, or realise some don’t serve you anymore. But just like fashion, it can be updated.
You are not your money personality. You’re just wearing it for now.
Here’s How to Shift Your Money Personality
- If you’re a Spender
Pro Tip: Spend consciously, not compulsively.
Instead of going cold turkey, replace one weekly indulgence with an SIP. Want that ₹10,000 dinner? Match it with a ₹10,000 mutual fund investment. You’ll start valuing the power of compounding more than the fleeting thrill. - If you’re a Debtor
Pro Tip: Budgeting isn’t boring—it’s your safety net.
Set up a 50-30-20 rule: 50% needs, 30% wants, 20% debt repayment or savings. Automate EMIs. Cancel unused subscriptions. Be ruthless. Debt doesn’t need your kindness. - If you’re a Shopper
Pro Tip: Lists are your financial GPS.
Never enter a store or website without a list. Be it Diwali shopping or groceries, write it down. Pause 48 hours before making non-essential purchases. - If you’re a Saver
Pro Tip: You can’t take it with you.
Saving is smart, but hoarding joy isn’t. Treat yourself sometimes. Take that short trip, upgrade your mattress. Life’s not a spreadsheet—balance matters. - If you’re an Investor
Pro Tip: Stick to your strategy, ignore the noise.
Don’t let market hype mess with your plan. Rebalance once a year. Stay patient. Wealth is built in decades, not weekends.
Final Thoughts
Money personalities aren’t good or bad. They’re just behavioural defaults. Once you spot your pattern, you get back control.
I changed mine. I was a classic over-cautious saver—scared to spend even on a better laptop for my business. But I’ve learned: money should work for you, not the other way around.
So, pause. Reflect. Ask yourself: Is your current money personality serving your future self?
If not, it’s time to change your financial wardrobe.
You’ve got this.
Let me know in the comments: What’s your money personality—and what’s one small change you’re committing to today?
