1 August 2019
We have identified the five most common money languages.
Which one are you?
We’ve all heard of the Five Love Languages. It outlines five ways to express and experience love – receiving gifts, quality time, words of affirmation, acts of service or devotion, and physical touch.
But the way you spend your money also
says something about your individual approach to earning, spending and saving
your hard-earned cash.
Do you recognise your
① The spend-o-holic
You see money as a
means to an end, and you want to buy everything you see, need, want and simply
optional, you are easily tempted, and saving is not on your radar at all. Your
credit card limit is more a target than a feature. You go to the mall to buy a
sensible pair of pants and arrive home with expensive new shoes, this season’s hottest
jacket, a new couch and a puppy.
② The entertainer
Money funds your
lifestyle, it fuels the experiences you crave. It’s a means to an end. You like
to spoil friends and family with night outs, gifts, lavish lunches and extravagant
holidays. You know the best places to see and be seen. In short, you like to be
the enabler of fun. And, you often utter the words “Champagne for everyone!’
You lend money to people without much thought or expectation of return.
③ The worrywart
Your ‘what if?’
approach to money makes you anxiously gaze into the future constantly. You
ponder your children’s education, the value of the rand and the next household
disaster lurking around the corner. You hold onto your money, investing some,
but keeping most of it close at hand in your bank account for those unexpected
and unplanned events.
④ The super saver
You think of
yourself as frugal, while your family just refers to you as ‘cheap’. Every
purchase you make is carefully researched, priced and compared. You shop at 70%
sales and the words ‘discount’ or a ‘complimentary voucher’ make your day. You
firmly believe in re-using and recycling. Spoils such as a manicure or a new
watch are a rare indulgence.
⑤ The happy medium
You have a healthy
approach to your income. You have a budget you stick to as much as possible and
make choices with a longer-term mindset. You have balance between enjoying your money
and putting away just enough for savings, investments and long-term goals.
don’t spend before you earn. You have a three-month emergency fund, but you
will dip into it if your favourite band comes to town or if you get the chance
to travel with friends.
We speak your language
Whatever your money language, an Investec Private Bank Account for young professionals offers you the flexibility, transparency and digital tools you need to get the most of your hard-earned money.
We consolidate all your daily transactional
banking into one account with one Visa platinum credit card and a single
transparent monthly fee (no annual or credit facility fees apply). With Manage
my finances, you get a consolidated view of all your finances, empowering
you to make more informed decisions about your money.