Dave & Dujanovic: Do you know your money personality?
SALT LAKE CITY — What is your money personality? Are you a miser or a spendthrift? A money expert sheds light on how to discover your financial persona and perhaps conquer your bad spending habits.
Financial counselor Amanda Christensen with Utah State University Extension joins Dave Noriega and Debbie Dujanovic to discuss the concept of money personality, which goes beyond either “spender” or “saver.”
The six money personalities, according to Amanda, are:
- Free spirit
- Targeted goals
- Spontaneous and
A person can exhibit a combination of money personalities, Amanda said.
Analyzing the hosts’ money personalities
Dave turns all holiday shopping over to his wife, closes his eyes and hopes for the best.
Dave said he asks his wife “Are we staying on budget?” just to show he cares.
Under a cloud of guilt, Deb ignores her shopping list, buys way too many gifts for everyone and ends up over budget.
“I shower everyone with gifts hoping they love me more,” she said.
Amanda pegged Dave’s money personality as a “free spirit,” happy not to be bothered by financial details.
Dave agreed, saying “that’s exactly what it is.”
Amanda said Deb has a “planning and giving” money personality.
Amanda added that different money personalities between spouses can be a great relationship strength in which one can counterbalance the other.
She said the relationship can gain power as both work as a team instead of as individuals with separate money personalities.
Spontaneous and status spenders
Amanda described a “status” money personality as buying expensive cars and clothes that the buyer can’t afford to project an image or send a message of wealth, often called “keeping up with the Joneses.”
“I learned that I have a pretty strong spontaneous money personality” even as a financial counselor, Amanda said.
She adds a personal spending allowance for herself every month so she can spend spontaneously but also guilt free.
“When that pot of money is gone, it’s gone. That’s the rule,” Amanda said. “But it makes me accountable. It helps me maintain some self-discipline. It lets me be spontaneous with money.”
“I love that. It allows you to dip your toe in the pool without getting sucked under by a whirlpool,” Dave said.
Dave & Dujanovic can be heard weekdays from 9 a.m. to 11 a.m. on KSL NewsRadio. Users can find the show on the KSL NewsRadio website and app, a.s well as Apple Podcasts and Google Play.
Today’s Top Stories
- GoFundMe started to remember 8-year-old girl who died in Kaysville parade
- The Great Salt Lake water level reaches a historic low as Utah continues to face extreme drought
- Anonymous donor offers $50K to help find missing South Salt Lake man
- Father of girl who died in Kaysville parade is thankful for those who helped
- 8-year-old girl in critical condition after getting injured at Kaysville parade
- Police: Gunman fired more than 70 rounds at July 4 parade, 7 dead
- Highland Park parade shooting suspect charged with 7 counts of murder, state’s attorney says
- Early morning crash on I-15 kills motorcyclist
- Manafort gets 47 months, judge cites mostly ‘blameless’ life
- Deuel Creek Fire continues to burn, officials hopeful for more containment