Consumers tend to spend freely, often for immediate gratification.

As a Consumer, you often have difficulty saving, but don't often worry about money. You don’t often think about the impact of your purchases until it is too late, but the acknowledgement does not change your habits.

You may use debt to purchase for gratification, and often have little to no savings. No matter how much you earn, it always seems to disappear in the blink of an eye.

Check out how your Consumer personality comes out in the following areas:

Spends freely
Comfortable with debt, often too much
Abundance mentality
Moderate: balanced between taking risk and security

Rarely saves
Willing to talk about money
Lives day-to-day and lacks a long-term plan
Prefers to keep to support themselves

Tips for The Consumer:

Stop using your credit card. Consider closing all except one of your credit cards to minimize your access to borrowing. Set aside a set dollar amount each month that you can spend on anything you want (we recommend this is no more than 30% of your take-home pay). Once the allocated funds have run out, wait until next month to make your next big purchase.
Set aside money each month directly to savings – start with 5% of your take-home pay, with a goal to reach 20% over time. Ideally, this account should be a little difficult to access, such as at a different bank than your regular checking account.
Consider hiring a financial planner on an hourly basis to help you develop a solid spending and savings plan and check in with you twice a month to hold you accountable. Like a weight loss coach, having someone to answer to and check in with can help you stay on track.