What kind of Spender are you?

CASH KID

In this episode, I will talk about different types of spenders and what does different types of spiders do. So, you can discover what type of spender are you? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

What kind of spender are you?

Hey cash kids welcome to the Cash Kid Podcast. Today we're going to talk about what kind of spender are you. How can the type of spender you are affect your financial path? We’ll explore this, coming up. The Cash Kid Podcast is underway.

(music)

Intro tease:

So you’ve got some cash. Maybe from an allowance, or that money your grandma gave you for your 7th birthday (Here you go sweetie.) Thanks grandma.

Whatever it is, what are you going to do with it? Spend it, hide it away… or maybe invest it? Let’s start learning how to make that money grow.

Time to learn how to be a cash kid. (cash register)

Now there are many kinds of spenders (payout coins sound effect). There's a natural spender that likes to spend money often but only spend money on things that matter. There's a careful spender that thinks very carefully about whether it was a good option before they buy it. And there's a rare spender and they don't spend money often. They normally save money until they really need it. And then there's the big spender. This person spends money on things that they don't even need but they just do it so they look cool and maybe they just want it.

(sound effect - Big spender here….show me the money, yay! -Andrew voice)

Haha, first off let's talk about the natural spender. The natural spender may enter a store and immediately tries to find something to buy. But they’ll only spend on something that matters to them. A natural spender is still careful though, on what they spend. Many times natural spenders are generous, thoughtful, and ready to spend to take action on something. These people are normally good income makers. They can provide for their families and they spend money in useful ways.

Now we're going to talk about the careful spender. This person really thinks before they buy something and they weigh all the options before spending. They don't mind waiting for a sale to happen on a product that they really want. This person takes time looking through the store for discounts and coupons. When they get a deal they go in and they try to get alot of it before the price rises back up. These people spend money but not very often.

(music)

Now we're going to talk about the rare spender. These people they don't spend money very often. They would rather save money for when they really need it like if a car breaks down or they have a home repair. These people usually can go to the grocery store and they only pick out things that they really really need sometimes. So, they aren’t the Target shoppers who go in for one item and come out with 20. (sound effect - What just happened? - Mom)

A rare spender won't even go out and spend that much money. They normally ask friends if they can borrow something or use it instead of using their own money.

Now we have our big spenders. (coins, cash registers - money music) These people they'll go to a shop and they'll just buy a ton of things even though they don't even need half the things they buy. They have luxurious houses. They have the latest iPhones. These people normally make a lot of money and they have a ton of money to spend. But also spending this much money can be a bad thing sometimes if they don't set enough money to save or invest.

(music playing under next section)

It’s actually not wrong to be any of these types of people. In a later episode, we’ll explore this more on being a natural spender vs. a natural saver. But recognizing the type of spender you are early can help you to set good financial habits in place to control your spending.

That’s it for this episode. Be sure to head over to the CashKidPodcast.com for more help resources and past episodes. Follow us on Instagram as well. Cash Kid, out!