Your ‘money personality’ is a behavioural pattern relating to your spending and saving. In a relationship it may appear your Money Personalities clash.  By understanding how opposing types can be complementary in a relationship, you will become a stronger team.

Your Money Personality is rarely just the one type.  The large majority of us are a blend of two and sometimes three.

At different times in your life and depending on circumstances, you will very likely see more than one money personality type in yourself and that’s quite natural. As a result, you’ll probably see a cross over between these – in other words, you can show parts of more than one money personality at the same time.

The five main money personalities were developed in the 1980’s by Olivia Mellan, a clinical psychologist who specialises in relationship and money issues.

Each type has positive qualities as well as shortcomings, no one personality is good or bad.  And the best news is, it doesn’t define you for life – you can change it.

Here are now six main money personalities.  As you read them, see which one you relate to the most.


Saving money is important to you, as are your financial goals. These are priorities in your life. You enjoy the process of planning and reviewing your budget and you stick to it.

Spending money on luxury items for yourself and your family is difficult.  Even purchasing practical gifts can seem wasteful to you.

Spending money on entertainment and on holidays is just unnecessary.  You may even struggle to buy new clothes when you still have perfectly ‘good’ things in the wardrobe.

“Saving for a rainy day” is your motto. So long term security is important, particularly in retirement.  You want your money tucked away safely rather than invested somewhere you can access it easily.


Instant gratification, immediate pleasure, spend it now and worry about tomorrow later.   You enjoy spending your money not only on yourself but on gifts for others as well.

Budget?  What Budget?  I don’t need to save; I can use my credit card. Saving for retirement will only happen if you automate the deduction directly from your income, it just isn’t a priority right now.

You find it easy to overspend, which results in debt.

(It’s important to note that some people in debt aren’t overspenders – they may not earn enough to meet their basic needs.  This is a completely different issue.)


You have a hard time managing your money. You’ll have a rough idea how much you earn, but you don’t know where it goes, how much you have in your bank accounts, or how much you owe on your credit cards.

Paying your bills and doing your taxes is a real pain, and you’ll leave it to the last minute (or get someone else to do it for you).

Like spenders, you’ll do anything to avoid a budget and your financial record keeping is either non-existent, or lots of paper shoved in a drawer somewhere.

If you somehow manage to accumulate some spare money, investing it is just too hard, too detailed, and you just won’t get round to it.


Money Monk

“Money is the root of all evil.”  Money is dirty – it’s bad.  If you have too much of it, you won’t be a good person.

You relate to people of modest means rather than with those that you perceive as ‘wealthy’.

If a windfall comes your way (Great Aunt Jean leaves you some money in her will, for example), you’re going to feel stressed and worried that you might become greedy and selfish, and you’ll be concerned that you may lose sight of your ideals and values.


Money, Money, Money. The more you have the happier you are.  You can choose whether to spend it, save it, or invest it. If you don’t have money, you feel hollow and a bit down.  Money is important to your self-worth and gives you a feeling of power, so without it, feelings of being a failure and depression can set in.

Control is important to you, so giving up control even to professionals who have your best interest at heart can be difficult for you.

Money Mastery  This final category was developed by Dr Kathleen Gurney

The members of this group make wise financial decisions.  They enjoy managing their own money, but they also trust their advisors.  They’re satisfied with what they have achieved financially.

They make logical decisions.  They’ve learned to take the time and not let their emotions run away with them.  They understand their values and make decisions that fit with those values both financial and personally.  They are proud of what they have achieved but don’t feel the need to brag about it.

They haven’t got where they are by applying some amazing money making scheme.  It’s understanding their relationship with money and aligning their values, beliefs and behaviours that has led them to financial success.  They have high self-esteem, feel secure, and are content with life.

So where are you right now?

Do you know what your Money Personality is? Take our quiz and Find out right now.

Are there attributes in one of the other money personalities that you would like to take on?

Money Mastery is what we all aspire to.  Unfortunately, most people either aren’t willing to do the work (or don’t know how) to get there.

If you decide you do want to reach money mastery, then come and talk to us about our coaching and mentoring programmes.