6 Shrewd Ways You Can Make Different Money Personalities Work

By Chika


Last Updated: January 17, 2023


You may have found the one that connects with your soul.

You share the same ideas and visions. Actually, you seem to agree on everything - except money. Then you discover that both have different money personalities. 

Though financial incompatibility is a major culprit behind divorces and separations, it is still very possible to make things work with a partner that has a different money personality

In this article, we share tips on how different money personalities can achieve compatibility.



What is a Money Personality?

Simply put, a money personality is how you view money. It is your values, perceptions, and how you behave regarding finances. 

Each person has a unique perspective on money, which might be influenced by their family, experiences, personalities, or circumstances. Your financial habits have a personality, just like whether you're an extrovert or an introvert. These vary from disciplined and realistic to fanciful and enterprising. 

Knowing your money personality will enable you to recognize your strengths and shortcomings. It will also enable you to deal with people who have different money personalities, such as when purchasing a home with a partner or launching a business with a friend.


Different money personalities

There are different money personalities. – depending on the requirements you use, it may range from 5 to 10 different personality types. Each with its strengths and weaknesses, these types are used to distinguish your distinct way of thinking about and dealing with money. 

The 5 most common money personalities are: savers, spenders, shoppers, debtors and investors. If you want to know more about the different money personalities, please read this article.


6 Ways to Manage Different Money Personalities

Financial decisions like opening a joint account, buying a house, or saving for retirement can become a source of conflict when you and your partner have contrasting personalities.

Knowing each other's money personality types can help you better anticipate and address any issues before they become serious because everyone has their ideas about how to manage money.

Finding that you and your partner have quite different financial personalities does not always indicate that you are not compatible.

It could include a little bit more giving in and taking advice from others, but it might also entail more possibilities and a broader outlook. A spender may assist a saver to attain financial objectives, and a spender can help a saver enjoy life a little bit more.

As an illustration, various personalities can truly complement one another.


1. Recognize you can achieve more together.

The first step is realizing that you will both achieve more in the long term if you worked together than work separately on your finances. Though society trumpets independence, couples that work together can achieve much more than those that do so separately. 

It is easier to buy a home, save for retirement, and pay for kids' education if you work together with your spouse.

As such, even if you know that you have different money personalities, the thought of achieving more if you stay together should override any feelings of wanting to do it alone or stick to your personality traits. 


2. Be prepared to meet them halfway.

After realizing that you can achieve much more together, this will set in motion ways you both can reach compromise.

It's all about wanting to meet the other person halfway. Defending your ideals is not going to win your spouse over or change their money personality. You should be able to show some empathy, but still be able to pass the message across. 

For example, if your spouse loves shopping, once in a while you can allow him/her to indulge. But also remind them how much money was saved during the periods they abstained from shopping. 


3. Work on a plan together.

A very practical way to make your money personalities compatible is by working on a financial plan together.

This could be saving for a mortgage down payment or paying off debt. Working on a plan together allows you both to support and encourage each other. It also acts as a mechanism for keeping one another in check and making sure you are on track to achieving your financial goal.

By working together towards a financial goal, you begin to understand each other's money personality, strengths, weaknesses, and how you can support each other better. 


4. Set an example for your kids.

Kids pick up a lot of things from parents and adults around them. Your attitude towards money is not out of bounds for their young inquisitive minds. One good thing about kids is that they unconsciously force adults to behave better.

When you are around kids you are conscious of what words you use, what attitudes you display, or even the TV programs you watch. 

As such, if you don't want your kids to fall into the same financial loophole as yourself, it is good to start modeling your money personality to what you want to see in your kids. This implies having a common stance about money with your partner. 

For example, if one kid asks for a toy, you and your partner should be able to have a common stance on if he/she should get the toy or not. Having a common stance, especially in front of your kids, allows you both to blend and think alike when making bigger financial decisions.  


5. Be open.

A good way to make different money personalities work is by being open with the other person.

Money is a very touchy area. Most people like to keep details to themselves. However, when you are open about your finances with your partner, you are not only letting them into your world but also showing them how you deal with money matters. 


6. Leverage your strengths.

Just because you have different money personalities does not mean you can't work together according to each other's strengths. Even the less desirable personality types still have some positives. 

For example, if your partner is a spender or shopper, they can be good when it comes to finding the best bargains. Or if they have a nonchalant attitude towards money, you can learn from them when you suffer a huge financial loss. The key is knowing when to use their traits to your advantage.



Having Different Money Personalities Isn't Necessarily Bad

You might not always have the same financial personality as the people around you. An unforeseen emergency may force you to adjust your perspective on money. On the other hand, a friend or relative may have a quiet impact on you.

In any case, every personality has strengths and weaknesses of their own. So, meeting someone who has a different personality than you could be the inspiration you need to cut back on your spending and increase your savings. Or it could be the push you need to finally start the business you've always wanted to.

Being committed to someone else may raise concerns, especially if you and that other may have different financial personalities.

You will be better able to overcome obstacles and put yourselves on a clearer route to success if you can communicate honestly and comprehend each other's financial objectives, requirements, and personalities.

Photo by RODNAE Productions


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