Identify your money personality
Your money personality explains how you approach money and what drives your habits and feelings about it, and since how you feel about money affects how you spend, save or invest it, identifying your money personality could help you understand why you might be struggling in certain areas and how to address them.
What’s your money personality?
THE SAVER: ALWAYS THINKING AHEAD
Savers are conservative with their money: being risk-averse means they don’t make impulsive buys, and they know where every cent goes. Savers usually live within their means and are always putting money aside for the future or ‘just in case’.
- Strengths: You understand the importance of saving and having the discipline to reach your goal.
- Do it better: Don’t let life pass you by while you pinch your pennies. Make the most of your money with an account that gives you higher interest, such as a Tax-Free Call investment account or a MoneyMarket Select investment account, so your money can work harder for you.
THE SPENDER: LIVE IN THE MOMENT
Spenders see money as a means to an end, something to help them enjoy what life has to offer and enjoy it now. Unfortunately, if you’re living in the moment, you’re less likely to be planning for the future. Spenders often live beyond their means and easily access credit to satisfy their lifestyle, which can get them into debt.
- Strengths: You understand that money isn’t the important thing in life; living it is, and money can facilitate that. You just need to reframe your focus from spending it impulsively to purposefully.
- Do it better: Get a handle on your spending and put some of that money towards saving. Download our Banking App and use the Money Movements and Save & Invest add-ons to keep track of your money and work towards your goals.
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THE AVOIDER: THINGS WILL SORT THEMSELVES OUT
Strengths: Hiding from your finances and ignoring the consequences is always a bad idea, but with the right financial education and help, you can always improve the situation. Do it better: Stop hiding from your finances and your economic situation. Get educated about your finances and understand how financial tools, whether a credit card or savings account, will influence your financial health.
THE BUILDER: THE SKY’S THE LIMIT
THE BUILDER: THE SKY’S THE LIMIT
Strengths: You have a strong desire to be the master of your finances, and you are willing to give up short-term gain for long-term wealth. Do it better: Take your growth global and talk to us about investment solutions to help you achieve your goals and build a diverse portfolio.