Have you ever taken a pointless personality test?  Most of us have.

Like – “Which house of Hogwarts best fits your personality”, or “You’re either a Disney Princess or a Marvel Hero, which one are you?”

While these are fun, their real-life application is often lacking.

On the other hand, there are some tests that give you real insight in how you approach the world, which can be helpful.

Money is an interesting thing. We all have a unique perception of how it fits within our lives. A lot of this is due to our upbringing our life experiences but nevertheless, how we view money will influence how we use money, and therefore how successful we are at managing it.

It’s good to know your own perspective and make informed adjustments.

Most of us can fall into one, if not two, of these money personality types.

Essentialist – Essentialists don’t bother themselves with flashy, unnecessary stuff. They buy only what they need and wait for their things to wear and tear to buy new ones. This attitude allows them to save, yet not feel deprived in life.

Extravagant – Extravagant can be seen shopping online often or strolling through the mall in search for the newest high-end gadgets or apparel. Sure, they might end up looking flashy and rich, but sometimes their appearance doesn’t match their bank accounts.

Frugalist – Saving money brings them joy. Their joy is not tied to material goods and they don’t feel societal pressures to have the best and newest. They’re similar to an essentialist or a tightwad, but essentialists don’t take as much joy in not spending money and it’s actually physically painful for tightwads to spend money.

Tightwad – For them it hurts to spend money. Think of the tight-fisted personality of Ebenezer Scrooge. This group of cheapskates are the sort that are pained or “disgusted” at the thought of spending money. These individuals are so addicted to saving that even spending on necessities becomes an issue.

Envious – These people constantly compare themselves with others and say, “I should have what they have because I deserve it.” This mentality can make them unhappy with any purchase they make or lead them to outspend their budget.

Entitled – These people have a hard time separating privileges from entitlements. They are the ones who justify purchases by saying, “I deserve to have ______”. They are different from an envious person because they enjoy and revel in the purchase they make. Their justification of purchases can lead them to use credit cards and get into consumer debt.

Hoarder – They believe that the more they buy, the more they save. They hate throwing things away and you’ll often find their garages or storage spaces packed with “useful” items they’ll use “someday”. They can, however, end up spending more than they should in the first place on sales they believe will save them money.

Emotional – Spending is tied to their feelings. Maybe they’re feeling down, so they treat themselves to a new shirt, or a coffee, or an experience because spending makes them feel better. Maybe they’re feeling happy, so they buy drinks for everyone at the bar. For them, money is tied to emotion and when that trigger happens, they can make bad money choices.

Couponers/Bargain Hunters – They love getting more for less. A good deal can feel too good to pass up. They might feel like they’re saving money, and maybe they are, but sometimes they spend money on things they wouldn’t have otherwise.

Exhausted – They can become exhilarated and then exhausted from spending money. Their spending habits often go in peaks and valleys. They can sometimes go out for a really nice dinner right after payday, and splurge on something great the day after payday, and then by the end of their pay period they’re either running low on funds, or just too exhausted to spend anymore.

You might be thinking after reading the money personality types, “I’m not like any of those!” But if we’re being honest with ourselves, many of us have a tendency towards at least one or two of these traits. The most important thing is that you identify what your tendency is, reflect, and adjust towards more healthy habits.