The five money personalities: Which one are you?

When it comes to personal finance, we often think about budgets, savings goals, or investing strategies. However, there’s a deeper element at play—your money personality.

Just like any other personality trait, your relationship with money shapes your financial decisions, from how you save and spend to how you invest and approach long-term goals.

It is therefore important that you recognize how you relate to money early to create a more balanced financial future.

What is a Money Personality?

Your money personality is how you handle money, from budgeting and saving to spending and investing. It shapes the decisions you make today and impacts your long-term financial goals.

Common Money Personality Types

1. The Savers prefer building savings for future goals. Theirs is a security script and are often risk-averse, focusing on growing their emergency fund or retirement savings. At NCBA Bank, savers can take advantage of the NCBA Smart Saver Account or their Savings Accounts in general which allow for steady, secure growth of one’s savings with competitive interest rates.
2. The Spenders find joy in making purchases. While they may struggle with saving, they excel at living in the moment. With the NCBA Debit Card and the Mobile Banking App, you can enjoy secure, hassle-free purchases while keeping track of your spending. One can also set up alerts and budgets on the app to keep track.
3. The Investors are focused on growing their wealth through investments. If you’re an investor at heart, a bank like NCBA offers NCBA Wealth Management Services, where you can access expert advice and a range of investment options such as unit trusts, stocks, and bonds. Their Online Investment Platform also makes it easy to manage your investment portfolio and make informed decisions.
4. The Avoiders might believe that there’s never enough money, leading them to be overly frugal, also known as a scarcity script. They may also tend to shy away from managing their finances and will often feel overwhelmed by financial responsibilities. NCBA Bank offers financial literacy resources such as the NCBA Digital Banking Guide, and helpful tools such as automatic savings with NCBA’s M-Shwari Account.
5. The Planners love structure and organisation when it comes to money. They create and stick to their detailed budgets. NCBA Bank’s Personal Loans, Fixed Deposit Accounts, and Investment Accounts can help you build a robust financial plan to meet your long-term goals.

RELATED: Financial goals you should prioritize this year

With the above breakdown, once you understand your money personality, it becomes easy to make well-informed decisions that align with your goals, improve your financial habits, and ultimately lead to better financial wellness.

Whether building an emergency fund, managing your spending, or making smarter investment choices, knowing your money personality guides you toward a more secure financial future.