Understanding Your Spending Personality: The Spender or Saver Test

Have you ever wondered why some people seem comfortable spending money while others feel anxious about every purchase? Your financial behavior isn’t random—it’s rooted in your spending personality. Whether you identify as a spender or find yourself naturally drawn to saving, recognizing your financial habits can be the key to building a healthier relationship with money.

Financial experts have long emphasized that discovering your spending personality type can significantly improve your overall financial health. But how do you know which category you fall into? And more importantly, what does that mean for your long-term financial success?

The Spender Profile: Do These Habits Sound Familiar?

Not all spending is reckless, but certain behavioral patterns can reveal whether you lean toward being a spender. Michael Liersch, head of advice and planning at Wells Fargo Wealth & Investment Management, points out that true spenders often purchase items they never actually use or make purchases they later forget about entirely.

Start with this practical test: Remove 10 to 30 percent of the items currently in your home or workspace. After removing them, notice how you feel. Do you experience relief? That emotional response reveals something important—these items likely weren’t adding value to your life. If you feel little to no loss, you may be buying things impulsively without considering long-term utility.

Another telling sign emerges when discussing budgets. Sara Gardner, a CFP and wealth advisor at EP Wealth Advisors’ Denver office, notes that most people with spending personalities actually cringe at the word “budget.” While they may have a general sense of their spending levels, they’re often shocked when they actually calculate their true expenses. “Even when it comes to major purchases like vehicles or home renovations, spenders will frequently proceed if the expense doesn’t dramatically disrupt their overall financial picture,” Gardner explains.

Your savings account balance tells a story too. If you’re struggling to keep money set aside, or worse, living paycheck to paycheck, your financial personality likely skews toward spending rather than saving. Spenders typically lack substantial emergency reserves or long-term savings cushions.

The Saver Mindset: Key Signs of Financial Caution

On the opposite end of the spectrum, savers exhibit distinctly different behaviors and attitudes toward money. The fundamental characteristic, according to Liersch, is straightforward: savers simply don’t spend money. Their satisfaction comes from watching their accounts grow rather than from acquiring items.

If you genuinely don’t enjoy spending money, this is your first clue that you may have a saver personality. For savers, the act of accumulation feels rewarding in itself. They find pleasure in knowing their funds are working for them, whether through emergency reserves, retirement accounts, or funds earmarked for future adventures and goals.

Gardner identifies another crucial indicator: paying yourself first. If you automatically direct money toward savings before considering discretionary spending, you’re demonstrating classic saver behavior. This could mean prioritizing retirement contributions, building an emergency fund, or consistently allocating funds toward specific projects or aspirations.

Savers also maintain a fundamentally different relationship with budgeting. Rather than viewing budgets as restrictions, they embrace spending plans with confidence and even pride. Whether they’re actively earning or already retired, savers take comfort in knowing exactly where their money goes and what their upcoming goals will cost. They view budgeting not as a limitation but as an empowering tool for achieving their objectives.

Beyond Labels: Why Balance Matters More Than Type

You might be wondering whether being a spender or saver is inherently good or bad for your financial future. The answer is neither. No financial personality type is superior to the other. Instead, what truly matters is finding balance between both extremes.

Gardner emphasizes that everyone’s relationship with money develops from specific life experiences: childhood upbringing, significant financial crises they’ve faced, career paths they’ve chosen, or personal circumstances like having dependents. These factors shape whether someone naturally gravitates toward spending or saving—and that pattern isn’t permanent or fixed.

Understanding this context is crucial because it means your current financial personality isn’t necessarily your destiny. With awareness and intentional effort, you can reshape your habits to better serve your life goals.

Rewriting Your Money Messages: The Path to Authentic Financial Habits

Once you’ve identified whether you lean more toward being a spender or prioritizing savings, Liersch recommends a deeper form of self-reflection. The critical question to ask yourself is: “What are my money messages?”—in other words, what do you habitually tell yourself about spending and saving?

This concept of money messages is powerful because our internal narratives often drive our external behaviors. If your default message is “spending money is bad,” this belief system may be guiding your decisions in ways that no longer serve your current situation.

The solution involves rewriting these messages to align with who you are today. Instead of an absolutist stance, consider alternative framing: “Spending can be good if it’s within my means” or “I value spending on essentials, and I carefully evaluate spending on non-essentials.” These nuanced messages acknowledge that spending isn’t inherently problematic—it’s about spending intentionally.

By consciously examining and revising your money messages, you ensure that your natural spending or saving tendencies work authentically for you rather than against you. This self-awareness becomes the foundation for sustainable financial health, regardless of whether you identify more as a spender or a saver. The goal isn’t to become someone you’re not—it’s to make deliberate choices that reflect your values and serve your actual financial goals.