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Posted on 1st August 2019 By Nawekulo Gachanja.

Money, that which some believe to be the root of all evil. Others, however, see it as a tool to make change. Money continues to baffle all. It is something that most desire, people cannot get enough of it. Yet, it seems to always slip through ones fingers. Money demands respect, or it will be a great cause of pain in your life. Money is something that can be used to achieve great things, but only if it is used in the right way. Before one gets to know how to use money effectively, one has to understand what their money personality is. People are different and therefore their spending habits are also different. They are motivated by a number of things, and these influence how they spend their ‘chapaa’ (money).

Below are some of the more popular money personalities:

  1. Big Spenders -These are those people who love to splurge. They are a manifestation of the saying ‘go big or go home.’ They are looking out for the latest trends and they are all about getting the newest version of products. They love to make an impression with their purchases and therefore they are okay with spending a lot of money. They are sometimes referred to as the ‘Kardashians’ or ‘keeping up with the Joneses.’
  2. Savers -These people are the opposite of the big spenders. They are the yin to the big spenders’ yang. They are the penny-pinchers. They are generally very cautious on what they spend money on and they are not attracted to trends. They tend to spend on what is most practical and most affordable. They are conservative by nature which explains their reservations when it comes to their spending habits.
  3. Shoppers -These are those people who love to splurge. They are a manifestation of the saying ‘go big or go home.’ They are looking out for the latest trends and they are all about getting the newest version of products. They love to make an impression with their purchases and therefore they are okay with spending a lot of money. They are sometimes referred to as the ‘Kardashians’ or ‘keeping up with the Joneses.’
  4. Debtors -These are those people who love to splurge. They are a manifestation of the saying ‘go big or go home.’ They are looking out for the latest trends and they are all about getting the newest version of products. They love to make an impression with their purchases and therefore they are okay with spending a lot of money. They are sometimes referred to as the ‘Kardashians’ or ‘keeping up with the Joneses.’
  5. Investors/ Ideal Investor -These are those people who love to splurge. They are a manifestation of the saying ‘go big or go home.’ They are looking out for the latest trends and they are all about getting the newest version of products. They love to make an impression with their purchases and therefore they are okay with spending a lot of money. They are sometimes referred to as the ‘Kardashians’ or ‘keeping up with the Joneses.’
  6. Mother Theresa -These are those people who love to splurge. They are a manifestation of the saying ‘go big or go home.’ They are looking out for the latest trends and they are all about getting the newest version of products. They love to make an impression with their purchases and therefore they are okay with spending a lot of money. They are sometimes referred to as the ‘Kardashians’ or ‘keeping up with the Joneses.’
  7. Hustler/Survivor -These are those people who love to splurge. They are a manifestation of the saying ‘go big or go home.’ They are looking out for the latest trends and they are all about getting the newest version of products. They love to make an impression with their purchases and therefore they are okay with spending a lot of money. They are sometimes referred to as the ‘Kardashians’ or ‘keeping up with the Joneses.’

These are just some of the personalities, not all of them. It is important to have an idea as to what your money personality is and the possible downsides. They almost all have disadvantages, except maybe for the ideal investor. Knowing one’s personality will also help to have a better understanding of what steps need to be taken in order to reduce the disadvantages.

You may have more than one personality although there will always be one that is more pronounced. Try to find out as much as you can about your relationship with money. Remember, it is important to respect money, but you don’t want to fear it. It’s okay to spoil yourself once in a while.

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Ksh. 200 notes were introduced in 1986, Ksh. 500 notes were introduced in 1988 and Ksh. 1000 notes were introduced in 1994.
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