Ep 14: What’s Your Spending Personality?

Are you an emotional spender or someone who loves to do research before making a purchase? No matter how you spend money, it’s helpful to know your personality type so you can best plan for retirement.



In this episode of The Retirement Huddle podcast, Mark Howard breaks down the different personalities of spenders and how those traits could affect your retirement.

Emotional spender

“There’s a lot of emotional spenders out there,” said Mark. “It’s not necessarily someone who loves to shop or loves to spend money, but they just allow their emotions to affect their spending habits.”

We’ve all heard the term retail therapy. Sometimes people feel like they deserve to spend a little money. This is especially true with people who like to go out to eat.

Had a good day? Go out to eat. Had a bad day? Go out to eat. Stressed and tired? Go out to eat.

YOLO spender

Using the “You Only Live Once” philosophy, these spenders go overboard on lavish expenses and purchases.

They say life is short and possessions can’t go with you when you die. They love experience gifts, such as travel.

While some people can overdo it, this kind of thinking can be used as motivation and goal setting when talking about retirement and what you’d like to do.

Savvy spender

While Mark is an emotional spender, his wife is a savvy spender. She really wants a leaf blower and has spent months researching the various options.

Like others in this category, she has a balanced spending personality and always keeps frugality in mind.

These kinds of spenders believe in quality products and are willing to spend more for that quality. They also believe experiences are better than things.


Misers believe any sort of spending, even when necessary, is stressful and guilt inducing.

Their money decisions are based out of fear that they won’t have enough. They saved diligently but then are afraid to spend the money.

“We see that a whole heck of a lot,” said Mark.

Listen to the full podcast to hear more of Mark’s thoughts on the spending personalities. Thanks for listening! We’ll be back for another show every other Thursday.

Today’s Rundown:

[1:17] – Emotional spender

[2:31] – YOLO spender

[3:42] – Savvy spender

[5:03] – Miser

[5:57] – How to contact Mark


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