Whether you're a spender or a saver, there are benefits and downsides to all financial personality types. Vicky Shaw finds out more.

All of us have habits - and this applies to how we manage our money too. Whether our relationship with money is something we've picked up from our parents, or it's been shaped more by our experiences in adulthood, attitudes to saving and spending differ.

TopCashback.co.uk has highlighted five different financial personality types. No one is perfect though - and even if you're generally on top of money issues, there may be some aspects of your financial personality you could consider changing.

Here's a look at the different personality types, along with some tips from Adam Bullock, UK director of TopCashback.co.uk...

1. Spenders

With household budgets currently under pressure, people who are inclined towards spending may be finding the temptation hard to resist. If you're a spender, not only will parting with your cash come easily, you will get deep satisfaction out of doing so.

You won't be too bothered about bargains or sales, but get excitement from having the latest gadget, car or clothes. It may not be just yourself you splash out on either - spenders can be generous with their money when buying for others.

If you're a spender:

Stop: Always looking for what's next. Appreciate what you already have.

Keep: Being generous with friends, family and charities. Many good causes need help right now - and you could help them without spending more of your own money than you can afford. Perhaps do a sponsored activity to raise money for charity or donate some of your time to helping a good cause.

Start: Hey big spender, spend a little time setting yourself a budget. Put money aside regularly so you can still make purchases while setting aside a nest egg for the future.

2. Savers

Savers search high and low for a good deal and haggle their way to the best price possible. Anything deemed a risky investment won't interest you, instead you prefer to watch your money build up.

If you're a saver:

Stop: Sacrificing too much fun for the sake of a few pennies. Consider what your time is worth, not just the eventual saving.

Keep: Being savvy, searching for the best deals and making savings.

Start: Loosening up a bit. Small treats now and then may give you a boost, and there are ways to keep the costs down. Try using cashback websites, discount codes and money-off coupons.

3. Investors

They like to keep on top of financial situations and make their money work hard. They try to make careful and considered decisions. Investors think and plan for the future and could be happy to take risks if it will eventually pay off.

If you're an investor:

Stop: Saving just 'for the future'. Set goals for the short, middle and long term so your investments can be aligned to these.

Keep: Educating yourself and treating money as an asset.

Start: Becoming aware of your behavioural bias that may be influencing your investment decisions - whether you're a risk-taker or more risk-averse.

4. Debtors

They often spend more than they have, borrow money they may not be able to repay, or be broke way before the end of the month.

Making savings or investments does not come naturally, or perhaps circumstances are difficult.

If you're a debtor:

Stop: Spending beyond your means.

Keep: Knowing that it's OK to borrow money, but only if you think you can pay it back comfortably, without making your situation worse. Get help from a debt charity if you need to.

Start: A plan to repay your debts. Many lenders are offering temporary payment freezes to people whose incomes have been hit by coronavirus. But if your money problems don't just relate to the coronavirus pandemic then you may need other forms of help. Contact your lender as soon as you realise you are struggling.

Set a monthly budget and see if you could save by switching energy providers. Cancel subscriptions you don't use or could do without.

5. Ostriches

Maybe you don't think about money or material objects much. But some ostriches bury their heads in the sand to avoid difficult financial decisions.

If you're an ostrich:

Stop: Avoiding the truth. Financial problems will get worse if ignored.

Keep: The attitude that money is not the be-all-and-end-all, but not if it's an excuse for not having a grip on your financial situation.

Start: Getting to know your finances - what you owe, what you can afford to repay, and what you can save each month.


Communities are pulling together in many different ways to get through the coronavirus pandemic, but among the positivity, Covid-19 has created opportunities for criminals. To increase awareness of Covid-19-related fraud, Frank Anderson, a former policeman who is now a fraud investigator at M&S Bank, is highlighting common tactics to watch out for.

Anderson says: "Banks have a wide range of fraud and financial crime detection technologies, but criminals also target customers directly, so it's important to be vigilant.

"Knowledge is power and the more you know about the different types of scams fraudsters might attempt, the better you'll be at stopping them in their tracks," he adds. "It's important to be aware of some of the different types of fraud and potential scams - as well as the measures that you can take - to help protect yourself and your loved ones from financial crime."

Here are Anderson's tips:

Buying and selling: Watch out for scammers exploiting the demand for items like face masks and Covid-19 test kits, and selling fake or non-existent products online. Only use websites you trust and be wary of requests to pay via bank transfer. Also watch out for deals that are too good to be true.

Doorstep fraud: Fraudsters have been targeting those who are vulnerable, offering to do their shopping or other odd jobs. This may seem like a genuine act of kindness, but they may take money or cards and never return. M&S' 'we're all in this together e-gift card' enables self-isolating customers, or their friends and family, to order a card to be sent electronically to the volunteer or shopper for use as payment in M&S stores, without people needing to exchange cash.

'Safe account' scams: This is when someone claiming to be from your bank says your account has been compromised and your money must be moved to another account. People are more vulnerable to this type of scam because of the uncertainty created by Covid-19, but please remember your bank will never ask you to move money into a 'safe account'.

NHS/good cause scams: Beware of anyone impersonating HM Revenue and Customs (HMRC) and offering goodwill payments to NHS staff. Never click on links from sources you don't recognise. Fraudsters may also pose as people seeking investment for good causes - such as a cure for Covid-19 - offering high returns for those that hand over their savings.

Insurance and investment phishing: Be wary of unsolicited emails and calls offering attractive insurance or investment opportunities. Scammers may attempt to capitalise on uncertainty. Don't reply or click on suspect links.

Free school meals: If your child is not at school and they're entitled to free school meals, be wary of emails requesting your details to pay the money for their meal directly into your account.


Financial fact: The number of homes sold in April nearly halved compared with March, HM Revenue and Customs (HMRC) figures show. Across the UK, an estimated 46,440 residential property transactions took place last month, down by 46.1% compared with 86,200 sales in March, according to provisional figures.


Books, hair clippers, puzzles and fitness equipment such as yoga mats are common essentials people have been purchasing online during the lockdown, according to research from Mastercard.

Three-quarters (75%) of people surveyed said they are careful when shopping online. Some 75% tend to stick to familiar retailers, 73% check website or buyer reviews and a quarter (26%) will contact new or unknown sellers before purchasing.


People can learn new money skills to help them with spending, budgeting, saving and retirement, thanks to a new free academic course from MoneySavingExpert.com (MSE) and the Open University.

The 'financial self-defence' course - MSE's Academy of Money - aims to help redress the balance between consumers who want to improve their understanding of money and companies.

Martin Lewis, founder of MoneySavingExpert.com, says: "Companies continually spend billions of pounds on advertising, marketing and teaching their staff to sell. Yet consumers don't get any training. We need to redress that balance."


More than half (54%) of over-55s have been using more online services since the coronavirus pandemic started, a survey by Santander has found.

Nearly a fifth (17%) in this age group have signed up to at least three new online entertainment, socialising or shopping services.

Common reasons for the increased use of online services among over-55s included avoiding having to go out, for their own personal safety, saving time and joining in with what friends and family are doing.