Overview:
The article discusses how different money personalities can adopt different savings strategies that match their habits. It outlines four common money personalities - the planner, the impulse spender, the procrastinator, and the perfectionist - and provides tips for each one to save money effectively. The key takeaway is that understanding one's money personality can be a secret weapon to make saving money feel less like a chore and more like a win.
in 2 weeks
Photo: milkos via 123RF
Saving money isn’t the same for everyone. Some people do best with color-coded spreadsheets, while others just like to pretend that their bank app doesn’t exist — out of sight, out of mind.
Your personality determines how you handle cash, so why not find a savings strategy that matches your personality?
Below are four common money personalities and some savings tips that will work for each one.
1. The Planner
Motto: “If it’s not in the spreadsheet, it doesn’t exist.”
You love order. You have a budget, a budget for your budget, and a 5-year financial forecast. You’ve probably researched three different savings accounts before committing to one.
Your Savings Strategy
- Automate Everything: Set up auto-transfers to your savings right after payday so you never “forget” to save.
- Goal Tracking = Motivation: Use an app with progress bars, charts, or even digital confetti when you hit a milestone (yes, gamification works).
- Invest in Planning Tools: Whether it’s a premium budgeting app or a paper planner that sparks joy, having the right tools will keep you motivated.
Bonus tip: Schedule a monthly “money date” with yourself to review progress. You’ll love seeing those numbers climb.
2. The Impulse Spender
Motto: “Ooh, shiny!”
Sales, TikTok hauls, and limited-edition anything are your kryptonite. You mean to save — until something irresistible pops up in your cart.
Your Savings Strategy
- Set Up a “Fun Money” Account: Give yourself a small, guilt-free spending allowance each month so you can splurge without wrecking your budget.
- Make Saving Just as Easy as Spending: Keep a savings app on your phone’s home screen so transferring money out is as quick as hitting “Add to Cart.”
- Use the 48-Hour Rule: When you see something you want, wait two days before buying. Odds are, you’ll lose interest (or find it cheaper).
Bonus tip: Trick yourself into saving with “spend-to-save” apps that round up purchases and stash the change automatically.
Photo: milkos via 123RF
3. The Procrastinator
Motto: “I’ll start saving…next month.”
You know you should be saving, but somehow other things always take priority. Maybe it’s overwhelm, maybe it’s avoidance, maybe it’s because you’re still “researching” the perfect savings account (for the past six months).
Your Savings Strategy
- Start Small, Start Now: Commit to transferring just $5 or $10 a week. Once you’ve made this a habit, increase the amount.
- Automate & Forget It: Set a recurring transfer to your savings so you don’t even have to think about it.
- Break It Down: Telling yourself to save $1,000 sounds intimidating, but telling yourself to save $50 by Friday sounds much more manageable.
Bonus tip: Give your savings account a name that excites you—“Europe Trip Fund” or “Future Latte Freedom” — so you actually want to feed it.
4. The Perfectionist
Motto: “If it isn’t perfect, why bother at all?”
You dream of flawless budgets and optimized investment strategies — but the second things get messy (unexpected expense, off-track month), you want to throw in the towel.
Your Savings Strategy
- Embrace “Good Enough”: Consistency beats perfection. Missing one week doesn’t erase your progress.
- Use Flexible Tools: Choose a budgeting method that adjusts with your life, like percentage-based savings instead of fixed amounts.
- Focus on Trends, Not Days: Look at your progress over months, not individual transactions.
Bonus tip: Celebrate small wins instead of obsessing over tiny “mistakes.” Saved $20 instead of $50? That’s still $20 closer to your goal.
Your Savings, Your Rules
Your money personality doesn’t have to be a weakness. When embraced, it can be your secret savings weapon. Whether you’re a spreadsheet-loving planner, a deal-chasing impulse spender, a “I’ll do it later” procrastinator, or a “must get it perfect” perfectionist, there’s a way to make saving money feel less like a chore and more like a win.
So own your style, work with your habits, and watch your savings grow — one personality-approved strategy at a time.
Finances FYI is presented by JPMorgan Chase plus logo from media library search JPMorgan
