The 4 types of monthly spenders

Do any of these spending habits look familiar to you?

Take a step back and ask yourself: What kind of monthly spender am I? Asking questions like this can help you create a budget that works best for you. By figuring out what kind of monthly spender you are, you can make informed decisions about the ways you spend and save your money.

So tell us, do you recognize any of these monthly spenders?

The Budget Geek finds great joy in keeping her checkbook balanced and planning for the future. Putting together a monthly budget and calculating the numbers gives her a sense of calm. If saving money is an art form, the Budget Geek is Leonardo Da Vinci. Whether she's smuggling her own popcorn into the movie theater or saving McDonald's napkins for later use, she has a master plan and she sticks to it.

Our advice to the Budget Geek: We respect the hustle. Remember that it’s okay to go out to a fancy dinner or vacation every now and then if you can afford it. There’s really no such thing as being “too frugal," just make sure your savvy budgeting doesn't come at the sacrifice of your own happiness.

The Balancing Act's monthly budget sways like a seesaw. Sometimes she stays under budget and sometimes she goes over. She spends when she needs to but tries to keep her finances in mind when making purchases. The Balancing Act doesn't consider herself a flashy person, but she's willing to invest in quality products.

Our advice to the Balancing Act: Look into the benefits of online budgeting apps. Tools like this can provide you with a better view of your spending trends and help you hit your target more consistently.

The Blind Spender's first instinct when she gets her paycheck is to BUY BUY BUY. She prefers living in the moment over making long-term investment decisions. If she's at a restaurant she focuses more on what looks good rather than the price tag. The Blind Spender is pretty sure her finances are a dumpster fire, so she avoids even looking at them. YOLO!

Our advice to the Blind Spender: Try finding a healthy balance between buying cool things and saving money for emergencies and retirement. Even if you just put a little money away every month it's a good start. 

The Broke Optimist puts together an air-tight budget at the beginning of every month and has good intentions of sticking to it – yet he's down to his last penny only a week later. He has no clue where all that money went. The Broke Optimist avoids making big, unnecessary purchases but falls victim to micro transactions that stack up and suck his account dry.

Our advice to the Broke Optimist: Little purchases can hurt you just as much as big ones. Sorting your budget into weekly allowances and sticking to those amounts can help keep you on top of your spending. If you want to take it a step further, convert your weekly budget to cash. Many people find that spending cash feels more "real" than swiping a card.

Clearly, we're simplifying these habits. Spending routines aren't always easy to simplify as they can change based on your circumstances. However, it's always good practice to occasionally look at your own spending habits to see if there's any room for improvement. 

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