Personality-matched goals were up to 61% more likely to hit their target. Let’s face it: saving money often feels like trying to convince yourself that kale is fun. It’s easy to set savings goals, but sticking to them is often where we lose the plot. Fortunately, psychology has a surprising and interesting solution: Your Personality.
Photo: Sacco, D. F., & Brown, M. (2018)
Your personality traits might hold the key to making saving easier and more effective.
Recent research from the American Psychological Association (APA) from the paper Leveraging Psychological Fit to Encourage Saving Behavior by Matz, Gladstone & Farrokhnia (2023), shows that when savings goals are aligned with your unique personality traits (the Big Five OCEAN: Openness, Conscientiousness, Extraversion, Agreeableness & Neuroticism), you’re more likely to succeed.
Why? Because your savings goals feel personal and meaningful rather than a chore handed down by a financial guru. Hit the button below to take a quick quiz and sort yourself into one of the five personality houses 🪄
Now that you know your personality. Let’s break down what this means, and how your personality might shape your money-saving habits, and, of course, give you some actionable steps to get started.
The Big Five Personality Traits & Saving Smarter
Agreeableness: "The Generous Giver" You’re empathetic, warm, and love helping others. Saving might feel easier if it’s tied to supporting loved ones or contributing to causes you care about. Pro Tip: Create a “gifts and giving” account so you’re ready for birthdays, holidays, or that spontaneous urge to donate to a charity.
Openness: "The Adventurous Planner" As someone who thrives on exploration and creativity, saving for future experiences or personal growth is your jam. Pro Tip: Use tools like Safe’s Safe-to-Spend feature which celebrates you spending your Fun Money and you can go on streaks to keep the good vibes flowing.
Conscientiousness: "The Organized Achiever" You love structure and thrive on goals. Traditional savings methods, like setting milestones or automating savings, are a perfect fit for you. Pro Tip: Often in households you tend to be the organized one, and getting your partner on same page might not always be easy! Stay tuned to Safe's Aligned Accounts feature so you can invite your partner into the fun.
Extraversion: "The Social Spender" You recharge around people and enjoy shared experiences. Saving might work best when tied to social events or group activities. Pro Tip: Build a “friends and fun” account for concerts, dining out, or weekend trips. It’s like saying “yes” without guilt. Renaming accounts on Safe is the perfect way to visualize these accounts getting swol.
Neuroticism: "The Cautious Saver" With a tendency to worry, financial security is likely a top priority. Creating an emergency fund can provide peace of mind and reduce anxiety. Pro Tip: Focus on building a small buffer first, just one month of expenses can make a big difference in feeling secure.
Reference:
Matz, S. C., Gladstone, J. J., & Farrokhnia, R. A. (2023). Leveraging psychological fit to encourage saving behavior. American Psychologist.
3 Actionable Steps to Start Saving Smarter Today
Reflect on Your Motivation! Ask yourself: What drives me? Is it security, adventure, connection, or something else? Align your savings goals with what matters most to you.
Name Your Savings Accounts. A simple but powerful hack: rename your accounts based on your goals. Instead of “Savings Account,” call it “Italy 2025” or “Rainy Day Peace Fund.” It’s a small shift, but it helps keep you connected to your goal. This is a new feature in Safe that allows you to rename and bonus: you can use emojis 🏖🏖🏖
Start Small and Specific. Don’t overthink it. Begin with a bite-sized goal that feels doable, like saving $20 a week for a specific purpose. The research shows that even small wins can build momentum. Motivation's number one predictor? PROGRESS! Even if it's tiny, it all counts.
How Safe Can Help
Safe’s tools are designed to make saving feel less like a chore and more like a reflection of you. With features like personalized insights, visualized goals, and the upcoming Aligned Accounts, you can create savings plans that fit your unique personality and motivations.
Let’s make saving feel intentional, rewarding, and, dare we say it, even fun.
Ready to give it a try? Download Safe and start aligning your savings goals today.
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