Finance: What kind of spender are you?

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We’ve managed to get through January but has everything gone downhill from 1st February? After going vegan, being sober, trying to keep a lid on your finances and battling to submit your tax return, February can be the month that you go off the skids and start splashing the cash. For a bit of fun this month I’ve identified a number of types of spender. Which one are you? 

What’s your money personality?

The Budgeter – You have a complete plan of all your finances. It could be written in a notebook, colour coded on a spreadsheet or on an app. Every little thing you buy is accounted for; every receipt kept and filed away. If the price of bread goes up you’ll be up until midnight working out how to make savings elsewhere.

The Bargain Grabber – You have no fears about sales starting at 5am as you’ll be the first in the queue. You’ve done your research and you know exactly what you want. Problem is you also can’t resist a bargain even if you don’t know what it is.

Buy cheap, buy twice – If it has ‘luxury’, ‘deluxe’ or ‘superior’ on it then nothing else will do. Not a single thing in your home has ever been purchased from the ‘basics’ or ‘economy’ range even if it does exactly the same thing for a quarter of the price.

The Cut-backers – Prices are rising all the time but you have appearances to maintain. If you make a few cut-backs here and there you’re sure nobody will notice and if they do you can make some worthy excuse for it. Who has a car these days if you care about climate change?

The Splurger – You scrimp and save on a daily basis but then blow it all on one big purchase. Why would you have the central heating on in the winter when you can go on 5* all-inclusive holiday in August?

The Miser – There is no good reason to spend any money at all. Put another jumper on if you get cold and when it get holes in it then darn them. If you need to buy food it has to be reduced. Your biggest dilemma is wondering whether it is worth getting rid of your television licence but this would mean paying for a streaming service and getting better broadband.

The Minimalists – Not quite as extreme as the Miser but not far off it. Less is more as you only spend on the basics. Your mobile phone just makes calls and texts and it’s pay as you go. No big television for you as your trusty 21″ has served you faithfully for years.

The Avoider – Also known as the ‘head in the sander’. You had a special drawer which you could shove all those letters from the credit card company in but now it is full. Your overdraft is at its maximum but you still can’t resist buying a new outfit to go out in on Saturday night.

The Consumer – Buy, buy, buy. If the retail sector is in trouble then it’s not your fault. You never like to be seen in the same outfit twice, your Christmas decorations are bought new each year. If it’s available you will buy it.

The Must-havers – New phone, new TV, new car. If it’s new out you must have it. You also better get it first before any of your friends get their hands on it.

The Investor – What you don’t spend you must invest. Not just save in a low interest bank account but properly invest. Be it high risk stocks or new start-ups you’re in as long as the returns could be high.

The Checker – Nothing gets past you. Every receipt you scrupulously check to make sure you haven’t been overcharged. At least twice a day you log on to your book account to make sure everything is in order.

The Rainy-dayer – You spend what you need to spend but each month you put a bit aside in case of a rainy day. Only problem is you don’t know what constitutes a rainy day. Does a broken down car, draughty windows or a clapped out oven count?

What sort of spender are you? Come and tell me over on Facebook or Twitter.

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About Ness Charles

Ness is a former qualified independent financial adviser with many years of experience in pensions. Since having her two children she has gone back to her first love of writing. Ness now writes the blog JibberJabberuk focusing not only on personal finance but also her love of cake baking, gardening and taking photographs on her travels around the UK.