4 Money Spending Types – Who Do You Match?

Spending money is an integral part of people’s daily lives. As we live in the digital age, there are several new ways of using payroll and savings. At the same time, our spending habits have a significant impact on our financial planning. Experts point out that there are several types of money spenders in the world, and this article will look at four of them.

This type of people only use paper banknotes and coins instead of bank cards and internet bank payments.

This type of people only use paper banknotes and coins instead of bank cards and internet bank payments.

This strategy makes it easier to keep track of how much money we own decreases when paying for goods and services. As a result, people are starting to pay more attention to their spending.

If you often make impulsive purchases and are unable to refrain from using different promotions or discounts, this cash strategy is a useful way to keep track of your expenses and learn to evaluate which purchases are more valuable and which can be abandoned.

This strategy only involves the use of cash for settlement.


In this case, however, the costs are categorized. The amount of money available is divided into specific amounts and placed, for example, in envelopes, each with a specific purpose – purchase of food, rent of apartment, fuel, gifts, entertainment, etc. Care should be taken to include within the monthly amount the amount available in each envelope without living beyond your means.

Although nowadays, with the bulk of payments being made over the Internet, this method seems a bit outdated, it is an effective way to regain control of your funds when it comes to learning the discipline of spending money. Of course, this method could be implemented in another way, either by writing down all cost categories on paper or by saving them in digital format, and then keeping an eye on the amount of money in online banking that matches what was planned.

The online spending type people use modern technologies such as online banking

money loan

The main emphasis in this case is on the purchase of different goods and services online rather than in traditional stores. Nowadays, it is possible to buy almost everything on the Internet – from clothing and footwear to financial services. The key here is keeping track of your costs. This can be done with the help of budgeting tools provided by banks or with applications that make it easier to understand who is spending the money.

This strategy involves channeling funds only to primary needs such as food, transportation, rent and utilities. To understand how to divide your expenses this way, it is worth creating two lists. In one of them note your needs and the other – wishes.

This spending strategy can help in cases where you need to get rid of your financial obligations. For example, if you have a credit line, it should definitely be noted on your needs list. For example, a new sofa would be on the wish list.