What's your financial personality?

Financial personality small

Posted 3 years ago by Pope & Co. Mortgages

Do you like to spend money on your friends and family, or do you prefer to spend it on experiences? Perhaps you'd rather save it in the bank?

Financial personalities play an important role in your economic success, and it’s important you ask yourself or your partner these questions if you are planning to buy a home together, or are planning for your retirement—in essence, any type of financial planning!

Nigel Latta, renowned Kiwi psychologist, has spent some time understanding our money personalities—with some interesting insights! Which one are you?


Freedom Seeker

Security Saver

Social Sharers

Power Spenders

Do you like to travel?

Do you prefer to live in the moment?

Do you like to spend money on experiences?

Does money give you a sense of security?

Are you working hard to buy your first home?

Do you prefer to spend money on improving your home instead of on experiences?

Do you like spending money on dinners, parties, events with friends?

Are you comfortable lending money to family & friends?

Do you spend more than you intend to on birthdays etc because you view spending money on other people as a way to make and maintain relationships?

Do you like spending money on things that make you feel more confident or treating yourself?

Would you consider a risky investment for higher returns?

Do you like the novelty of spending money on things?


How can you use your money personality to your advantage? 

Freedom Seeker
Self-control is important! The most successful people in this group focus on achieving their goals.

When it comes to buying a home, we always recommend people still leave room to live—don’t cut yourself so fine on mortgage repayments that you can’t go out for dinner or coffee.

Security Saver
It can be easy to get fixated on saving for the future and miss out on the now—you can be clever with how you spend your money, as well as save it.

From a mortgage perspective, this can be applied to adding value to your home—yes, save for your next step up the property ladder, or retirement, but don’t be afraid to add some value to improve your current home.

Social Sharer
Think twice before spending money on others—while it gives you satisfaction, you also need to consider your needs.

If you’re keen to buy your first house, plan a budget so you can keep track of your expenses and ensure you’re putting enough money aside for you and your goals.

Power Spenders
Look beyond the novelty of buying—it’s tempting to want to up the ante when the thrill wears off. Think long-term.

Changes in the local market can be tempting to this type of financial personality—wanting to upgrade your home or shift up the ladder? Consider the cost of upgrading—moving fees, real estate fees etc. Is it worth the cost to upgrade?

We work with all financial personalities and are always ready to help you achieve your goals.  Contact us to discuss your plans or call our friendly team on 0800 000 517.


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