How does your personality affect how you spend money?

How does your personality affects how you spend money? Written by Shekinah Ade-Gold on behalf of Budget Leaf

Your Personality Affects Your Mindset

Personality tests may initially seem like a waste of time. However, when you realize that many companies and individuals take them into consideration, it starts to make sense that one should at least try to know their personality type. This affects how we work, how we treat others, and (in the context of finances) how we use our money.

Types of Personalities

In the article “What Your Personality Type Means For Your Finances” by Amy Keyishian of

LearnVest, we learn about the story of financial planner Ray Linder. He was amazed at the fact

that people responded differently to the advice he was giving, and decided to see how the 16

personality types outlined using the Myers-Briggs test viewed their earnings. Upon coming to a

conclusion, he authored a book titled “What Will I Do With My Money?” that grouped the 16

personality types into four main groups:

Protectors (ESTJ, ESFJ, ISTJ and ISFJ) are usually strict and rigid, very cautious about

spending and find it hard to adapt to sudden changes in their lives. Their goal is to make

sure provisions can be met, but they can be negatively triggered if they happen to think

that they are failing at this.

Planners (ENTJ, ENTP, INTJ and INTP) are more at ease with their budgeting once they

are able to track and control their expenditure. Their goal is to maintain a perfect

financial record, but this can cause them to miss out on indulging in things that they like.

Pleasers (ENFJ, ENFP, INFJ and INFP) view money as a tool, a part of their overall

identity. Their goal is to make sure that they and everyone around them are doing well in

every way possible, but this can be a drain on their resources without proper self-control.

Players (ESTP, ESFP, ISTP and ISFP) are most comfortable with taking risks and being

impulsive. Their goal is to simply live and try things to see what will work and what

won’t, but as with all risks this can go either negatively or positively, such as with


What Would You Do?

There’s an age-old question of what one would do if they won the lotto. Protectors would keep

the earnings under lock and key, and pretend it didn’t exist. Planners would be less guarded

about saving, but would feel bad about taking a well-needed vacation. Pleasers would see the

money decreasing steadily, since spending on one’s self and others is seen as a necessary part

of having money. Players – they might use the entire amount in one go to fund the next big

investment plan.

The Takeaway

It’s important to remember that money is simply the accumulation of your value. What you do

with your value is how you treat your money, and a huge indicator of your budgeting lifestyle is

your personality type. As a Pleaser, I train myself to exercise control because I love to spend on

the people I love, and will treat myself in excess unnecessarily just to feel good. All of these

traits have their positives, but balance is definitely key to a good budget.

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