Money Savvy

Money Personality: The Cash Splasher

If our Money Personality Quiz has brought you here then you must be a Cash Splasher. The life of the party, your sheer enthusiasm for life and your boundless energy are infectious. You are warm, talkative, trustworthy and love being the centre of attention.

When it comes to spending money, Cash Splashers often act on impulse with little thought of future consequences.

Whether it’s to show off designer clothing on social media or treat all your friends to an expensive meal, you’ll shout it loud and proud for everyone to hear. You relish the feeling of making a transaction and may use your spending to gain popularity, respect and gratitude. So, how can you ensure that your love for splashing the cash doesn’t get out of hand?

Related: What You Can Learn From The Spending Habits Of 7 Frugal Millionaires and Billionaires

How you handle finances

The worst thing for a Cash Splasher is being a Cash Splasher with no cash to splash. Your ‘buy now, think later’ impulses can be difficult to resist and might leave you in a tricky situation if an impulse becomes expensive.

Even if you have ample funds available, there are far better ways you could be spending your money than choosing the priciest option available simply because it’s ‘the best’.

Treating yourself and your nearest and dearest is fine in moderation, but it’s always wise to have some backup funds available in case of an emergency. After all, your family will appreciate that fancy new TV much less when the boiler breaks down and there’s no money left to repair it!

It can be difficult to change your money habits straight away and your impulsive nature means you’ll probably spend and spend until there’s nothing left.

Solutions for your money

  • Check out cheaper ways of having fun. Your personality is why people love you, not what you buy!
  • Shop around for a savings account – choosing an online only account such as an e-saver means you won’t be able to spend from this account. Sites like MoneySupermarket will help you compare the best interest rates and offers around.
  • Set up a standing order – having a regular payment leave your account automatically means you won’t have to consciously transfer the funds yourself. Set the standing order to leave on the date you get paid as then you won’t have chance to think about spending it before it’s safely squirreled away.
  • Push yourself to think before you buy – when the impulse to buy something comes over you, leave the shop and sleep on it. You’re not telling yourself no, just to wait! If you still want it as badly the next day, buy it then if you can afford to. Most of the time, you’ll find you’re not so bothered about the item, and you’ll have saved yourself some valuable pennies that can be spent on something you really do want or need.
  • Don’t be afraid to return things! If you look at an impulse buy the next day and can’t fathom what you were thinking, take it back. You’re allowed to change your mind.

Read more: How To Save Money When You Are Bad At Saving

Cash Splashers and relationships

Your natural charm, friendly, generous and sympathetic charisma will do most of the work in a relationship, but when it comes to money, everyone deals with it differently. Psychotherapist and relationship expert, Lena Fenton from Click For Therapy, shares her thoughts on what to do if you’re a Cash Splasher:

‘If you are the Cash Splasher in your relationship, you may feel best able to express your needs through your buying power. When you have money, you want to spend it because it makes you feel more powerful and in control (even if you are not spending it on yourself).

‘Inevitably, it could backfire on you and may even cause severe relationship problems if this develops into compulsive spending. To alleviate the chance of this happening, plan your cash splashes instead of allowing it to overtake you. Organise a meal out once a month, or a small weekly treat for yourself.

‘You may also want to ask yourself why it is that you want to be seen to have more than you do. Is there underlying anxiety about not being liked? If you think that may be the case, then consider ways in which you can bolster your sense of self-worth. For instance, ask your partner or a close friend, to tell you what they think your best qualities are. The most compatible money personality partner for you would be the walking bank as s/he might be able to help you plan your spending better, curbing your desire to appear more affluent than perhaps you are.’

Read more: 20 Stress Free Ways To Save Money In Your Home

If you have difficulties within your relationships, a fancy present might be a short-term fix, but the underlying issue will still be there. Cash Splashers need to realise that it’s sometimes worth sitting down and resolving difficult issues rather than just buying their loved one a 6ft teddy bear.

Cash Splashers are very in tune with Risk Takers; maybe even soul mates!

Cash Splashers and careers

Cash Splashers are hands-on and like to be in the middle of the action. They’re pragmatic and realistic when it comes to problem solving and dealing with people, and will often choose a path that enables them to display their skills and talents to the masses. Typical career paths might be that of an event coordinator, an estate agent, an artist, a photographer or a firefighter.

Related: How To Be Money Savvy With Your Monthly Payslip

Making all your spending a conscious decision can be difficult after a life of cash splashing, but we hope our tips will make the change a lot easier for you. Don’t punish yourself if you slip up, just make sure you keep your receipts! It may feel difficult at first, but when you have a big shiny rainy-day fund a year from now, you’ll be thanking yourself.

And remember, your treats should make you happy; you don’t have to buy expensive things just to impress others!

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