The Best Savings Tips For Every Money Personality

We all have a relationship with money, and for most of us, it’s... complicated. Habits and beliefs picked up from our parents, cultural norms, lifestyle, goals, values, fears — it all adds up. The result? Your money personality: how you think, feel, and act around your finances. And yes, it probably developed way before you ever opened your first bank account.

It impacts a lot: how you stick to (or run from) a budget, where your paycheck goes, how likely you are to make late-night impulse buys or prioritize low-cost meal prep, and if or when you reach goals like a hefty emergency fund or a down payment.

So, how does your money personality affect the way you save? And more importantly, how do you work with your natural tendencies instead of against them?

The truth is, there’s no one-size-fits-all advice. The best strategy depends on who you are — emotionally and financially. Whether you’re an impulse-shopper or a spreadsheet-loving saver, these tips will help you build an effective savings plan that fits your actual needs.

With that in mind, we spoke with five finance experts about savings tips for each money personality — The Spender, The Saver, The Risk-Taker, and The Avoider — so building wealth can feel less painful and a lot more possible.

The Spender

If you often find yourself surrounded by shiny new things while staring at a maxed-out credit card and an overdrawn bank account, you might be a spender.

“Spending isn’t inherently bad,” says Kara Stevens, founder of The Frugal Feminista and author of heal your relationship with money. “But ask yourself what emotional need your purchases are meeting — validation, escape, celebration?”

Spenders tend to thrive on instant gratification, which can lead to big emotions and bigger price tags. Whether it’s shopping, spontaneous trips, or always offering to pick up the tab, spenders often feel compelled to reach for their wallets — even if that breaks their budget.

Pause Before Purchasing

Who among us hasn’t gone to Target for detergent and come home with four candles and three mugs instead?

Impulse spending is understandable, but it can add up fast — which is why financial expert Farnoosh Torabi recommends practicing the 24-hour rule.

“Practice a 24-hour pause before any non-essential purchase,” advises Farnoosh Torabi, host of the Webby-winning podcast SO MONEY. “Science proves this short wait helps you distinguish between impulse and intention.”

Set Aside “Fun Money”

Swearing off all non-essential purchases rarely works as a long-term plan. That’s why Bola Sokunbi, the founder and CEO of Clever Girl Finance, suggests accounting for the extras.

“Build a ‘fun money’ category into your budget so you can enjoy spending,” she says. “Automate savings first, then spend what’s left guilt-free.”

The Saver

For some people, the issue isn’t starting a savings habit — it’s loosening up once you’ve achieved your goal. The instinct to save every dollar can stem from deep financial anxiety, especially if you grew up watching money slip through the cracks, or if you’re living paycheck to paycheck. But savers, beware: Playing it too safe can sometimes backfire.

“You should be saving for something, not saving just to save,” explains Chloe Elise, CFP and founder of financial literacy company Deeper Than Money. “I’ve seen people with six figures in a checking account because they’re scared to watch that number drop if they pay off their credit cards or student loans. Make sure you’re being strategic.”

Give Every Dollar A Home

After you’ve built a healthy emergency fund (three to six months’ worth of expenses), it’s time to get intentional about where your money lives.

Take a two-pronged approach: “For short-term goals (one to five years), use a high-yield savings account,” Torabi explains. “For longer-term goals, consider investing in a diversified portfolio within tax-advantaged accounts like a 401(k) or IRA.”

Haley Sacks — aka Mrs. Dow Jones, the founder and CEO of Finance Is Cool — agrees.

“Hoarding cash isn’t a strategy; it’s a fear response,” she says. “If your money’s just sitting in your savings account, inflation is eating it alive.”

Let Yourself Say Yes

Savers tend to avoid spontaneous purchases, sometimes to a fault. In the long run, this can create its own form of stress.

“Don’t let saving turn into hoarding,” she says. “Once you hit a goal, give yourself permission to enjoy your money. Spend it mindfully, not fearfully.”

This could look like splurging on a fancy meal if you’ve come in under budget at the end of a week, or finally booking a vacation after setting aside funds for months and finding affordable flights.

The Risk-Taker

On the opposite end of the spectrum from the savers are those comfortable with risk. These people have ambitious dreams and a high tolerance for setbacks. They’re often chasing long-term gains, building businesses, or investing an aggressive portion of their income, even if they don’t have a rock-solid emergency fund yet.

“Love the energy, but risk without research is just gambling,” Sacks says. “Long-term wealth is built with a diversified portfolio, not meme stocks and vibes. Stay bold, but stay balanced.”

Create A “Boredom Fund”

Calculated risks can pay off, but you need to be in the proper position to take them.

“Always invest from a place of stability,” advises Torabi. “Before chasing returns, make sure you’ve paid off high-interest debt and built an emergency fund.”

Stevens shares a similar perspective, suggesting that risk-takers view the less-fun parts of money management as the trade-off that allows for their financial growth.

“Risk can be exciting and empowering, but ask if it’s driven by confidence or a need to prove your worth,” she says. “Balance bold moves with a ‘boredom fund’ — think: emergency savings, insurance, the unsexy safeguards that make room for long-term freedom.”

Diversify Your Portfolio

Risk-takers need to make sure their investments are allocated strategically. Consider putting money in a high-yield savings account, index funds, and retirement accounts like a 401(k) or IRA.

“Ensure you have broad diversification,” Sokunbi explains. “Revisit your goals regularly and balance your portfolio so you’re growing wealth without exposing yourself to unnecessary volatility.”

The Avoider

Avoiders tend to look away when money feels overwhelming. They delay checking their accounts, don’t bother to budget, and hope for the best. If this sounds familiar, here’s a tiny win: You’ve made it to this section, so congratulations, you’re facing your finances.

“This used to be me to a T,” Elise admits. “For years, I didn’t even have the login to my online banking and would play ‘debit card roulette’ to see if my grocery haul would go through or not. I hated the idea of dealing with my finances.”

But pretending money doesn’t exist won’t make the stress go away. If you know your current spending habits are killing your dream of making a down payment someday, that uneasy feeling will continue to loom — or grow.

Get Romantic

Sometimes the best way to face your money fears is to reframe the experience.

“My biggest tip here is to romanticize your finances,” says Elise. “Set a weekly ‘money date’ with yourself, even if it’s just 10 minutes. Light a candle, make a playlist, have a fun drink… facing your finances in small doses will build your confidence!”

Take pride in every baby step. “Avoidance is often rooted in shame or overwhelm,” Stevens says. “Start small, and face your numbers with kindness, not criticism.”

Ask For Support

You don’t have to figure it out alone. If money feels too overwhelming to manage on your own, reach out.

“A fee-only financial advisor, money coach, or nonprofit credit counselor can help you develop a plan and break the cycle of avoidance,” says Torabi. The National Foundation for Credit Counseling is a good place to start.

Sources:

Kara Stevens, founder of The Frugal Feminista and author of heal your relationship with money

Farnoosh Torabi, host of SO MONEY

Bola Sokunbi, founder and CEO of Clever Girl Finance

Chloe Elise, CFP and founder of Deeper Than Money

Haley Sacks, aka Mrs. Dow Jones, founder and CEO of Finance Is Cool