spending

Your Personality Determines What You’ll Spend Money On

Your personality is what makes you unique from others. It’s the original combination of thoughts, feelings, and behaviors that all add up to make you you. Psychologists have found that although we can change our habits, our personalities are fairly well established early in life and don’t change much.

Personality psychology can tell us a lot about ourselves. It can tell us why we do what we do. Moreover, it can make us aware of our habits so that we can change those that don’t suit our goals even if they derive from our personalities. For example, recent research indicates a relationship between spending and personality.

Here are five common personality traits and the thing a person with those traits is most likely to spend extra money on:

1. Extroverted Personality

If you are extroverted then you tend to feel energized and positive when spending time in large groups of people. You like socializing and enjoy crowds. Therefore, you’re most likely to spend extra money on dining out, social gatherings, attending concerts, and so forth.

If you find yourself over-spending in this area, remember that your personality makes you crave social gatherings. Look for ways to socialize on a budget. That way, you meet your internal psychological needs without extending yourself financially.

2. Open-mindedness

People who are open-minded and willing to try new things are the ones most likely to spend money on travel. They may go on frequent vacations. During their trips, they may pay for a variety of different unique experiences.

If you ever find yourself doubting your tendency to spend money on travel, remind yourself that it’s a sign of your open-minded nature. If you need to cut back, find ways to attend local cultural events or other activities that expose you to new things and new people.

3. Conscientiousness

Are you the type of person who takes every extra dollar and puts it directly into savings and investments? If you don’t like to spend on things and experiences because you would rather save, then you likely rate high on conscientiousness.

The great thing about this personality trait is that you have a strong work ethic and believe in doing a good job at anything you do. The drawback is that sometimes you can fall prey to workaholism. If you’re always investing and never spending money on fun, ask yourself if you have enough balance in this area.

4. Neuroticism

If you take a personality test and score high on neuroticism then you might be someone who is particularly reactive and/or emotional. You tend to find it difficult to cope under stress. You may even struggle with depression or anxiety. On the flip side, you may be able to channel your anxiety into productivity and meeting goals, such as fitness goals, in some instances.

If you have this personality trait, then chances are that you spend money on non-essential items. You spend emotionally to feel better. Therefore, you spend when you are lonely and anxious. You end up buying clothing or accessories or decor that you don’t need. If you find yourself doing this often, it can help to work on channeling your anxiety into more productive outlets.

5. Easygoing

If you are easygoing and agreeable, how do you spend your money? Most likely, you are generous with it. You give to charity.

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Kathryn Vercillo

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