Make money. Save money. Spend money. Repeat.
I don’t know about you, but that’s the extent of my financial literacy.
So color me shocked when, in going through Ken Honda’s Money EQ on Mindvalley, he’s all like, “Knowing your money types will free you from money.”
What in God’s green papers does that even mean, Ken? Money has types? Isn’t that what denominations are?
(I can imagine Zen Ken rolling his eyes at my financially illiterate reactions right now.)
But no, money types ≠ money. And it’s at this point I had to remind myself that this is Money EQ, and I’m here to learn about my relationship with money.
So money types obviously have to do with people. Me, I am peoples.
Tell me, Ken, what are money types?
Okay, so “money types,” as Ken defines them, are how people earn, spend, and relate to money.
And as I heard this, I thought, “Cool, so basically personality types but for my wallet.”
But Ken’s not talking about BuzzFeed quizzes that tell you to stop buying lattes. He’s actually breaking down how money works beneath the surface, like emotional DNA for your finances.
Because, as it turns out, we aaaaall have patterns. Who woulda thunk it, right?
Some hoard, some overspend, and some give too much away (because, apparently, it makes them feel safe). And they’re all shaped by our childhood experiences with money.
In fact, entire fields now study how people think and feel about money. It’s called “money attitude,” and it looks at how our beliefs and emotions around money shape everything from spending habits to job choices.
One large study in Australia found that people who link money with freedom or power tend to feel less satisfied with life, while those who see it as security or love report greater happiness. Basically, science says the way we feel about money is personal, emotional, and deep-rooted.
So I guess my wallet has a personality, too. And I’m just learning how to get along with it.
And what are the money types?
So, according to Ken, there are three categories that money types sit under:
1. Controlling
These people try to manage uncomfortable emotions by taking action around money. They believe control = safety.
So there are…
- The Spender. Finds joy in spending and often equates it with worthiness. The thrill fades fast, though.
- The Saver. Loves security and saving every penny. Feels safe but can forget to enjoy life.
- The Moneymaker. Feeds on achievement and income. Success feels like oxygen.
2. Indifferent
These people grew up with some level of financial freedom and feel emotionally detached from money. They’re generally happy, languid, and non-materialistic.
And that is…
- The Money-Indifferent. Doesn’t think much about money, usually raised comfortably. Chill, until life throws a financial curveball.
3. Fear
These people associate money with anxiety, shame, or moral tension. They want distance from it, which often creates financial instability.
Here, there are…
- The Gambler. Loves the high of risk and the crash that follows. Chaos is their comfort zone.
- The Hippie. Believes money (and capitalism) corrupts. Avoids it completely, often with resentment.
- The Saver–Splurger. Swings between hoarding and blowing it all, usually followed by regret.
- The Worrier. Lives in a loop of financial anxiety, even when things are fine.
Okay, Ken, hit me with my money truth
If you’ve been following my story from the start (which you can catch up with in Part 1), you’ll know my money wounds go way back. They started with a pack of Skittles.
So when it came to finding out my money type, naturally, I had to know which one I am.
Now, the side story: while I was going through these lessons, Ken said something that made me laugh out loud. Apparently, savers and spenders often end up together.
“A saver is attracted to the spender because spender people are good at enjoying life,” he said. They go for nice dinners, they know how to have fun, and they’re experts at spontaneity.
Spenders, on the other hand, feel grounded by savers. Ken explained, “They know that their life is not really solid, so if they are married with savings, probably he or she doesn’t feel so scared about the money.”
What’s so funny about that? Saver = my husband. Spender = me.
Now, back to finding out my money type. I took Buzzfeed’s money type quiz, and wouldn’t you know it?
I am a…drumroll please… compulsive spender!
The results are in… and that explains a lot
I hate to admit it, but it tracks. And Skittles was just the beginning.
Looking back, there were plenty of times I got what I wanted when I wanted it. New bike? Bought. New sneakers? Those, too. Books? Here’s the money.
The thing was, I didn’t ask for big-ticket items. No shopping spree for clothes or makeup—those things never interested me.
It was always food, books, experiences… Even my bike looked like a Punto next to the Porsche of a bike my brother got (which he worked for, not asked for).
So when I went to college, I didn’t know much about making or saving money. Spending money, on the other hand? I was the expert.
Put some cash into my account, and I could Usain Bolt my way through. Like I talked about in Part 2 of this series, my relationship with money was toxic.
And there are plenty who suffer the same cashlexia. A 2022 PISA study found that one in five students can’t even make a basic budget. (Sure, 2022 is 20 years past my student days, but the point still stands.)
How one Target trip turned into a life lesson
It wasn’t until I befriended a girl in my second year of college that I started really looking at my habits. Raised in a trailer home, there were years when her family could only afford Christmas presents from the Dollar Store.
One day, as we were walking through a store, I was reaching for a cute, had-to-have-it top. (Yes, I said clothes didn’t interest me. Doesn’t mean I’m immune to something nice!)
My friend, then, asked me, “Do you need it? Or do you want it?”
Do I need it?
Or do I want it?
No one had ever phrased it like that before. And I’d never thought to look at life through that lens.
Did I need the top? No. Did I want it? Heck yes. (But no, I didn’t end up buying it.)
Truth be told, the rose-colored glasses came off that day. And they’ve been off ever since.
My shop-now-regret-later era is over
I’ve come a long way. Now that I’m earning my own money and paying bills, I’m more aware of how fast money disappears when I stop paying attention.
To this day, I ask myself those same questions: Do I need it? Or do I want it? It creates a necessary pause before I decide whether to feed consumerism.
Having a husband who’s a saver has helped, too. Watching how he handles money has rubbed off on me. I’ve started tracking my spending more intentionally and, for the first time, asked for my worth when I switched jobs.
That shift mattered. When I was diagnosed with Stage 2 cervical cancer, I didn’t have insurance. Thankfully, Malaysia’s healthcare system subsidizes citizens, and my treatments were affordable with the upgraded salary.
I’ve also made it a habit to sedekah (give to charity with intention) every week. It’s similar to what Ken calls “maro up,” which is about circulating your wealth so it continues to grow. Whether it’s sharing knowledge, time, or money, the act expands what you already have.
I’ll admit, the compulsive spender in me still exists. I go through phases of eating out too often or taking I-can-pay-it-back-later trips.
While these contribute to what Robin Sharma calls “wealth money can’t buy,” I’ve learned that real security and even financial abundance come from knowing when enough is enough. And Ken’s lesson on money types helped me see those patterns clearly and understand what drives them.
We’re not just one type, according to him. We can be a mix of a few, and that feels true.
Some days I’m the saver, other days the spender. Whichever type I choose to be, it is, as Ken emphasizes, my choice.
And you?
Which money type do you see in yourself? The saver, the spender, the worrier, or maybe a little of everything?
Ken says awareness is the first step to freedom, and I’ve found that to be true. Once you start seeing your patterns, you get to choose which ones stay and which ones go.
So, what choices are you ready to make with your money story?
Send me a message. I’d love to know what money type you’re getting to know right now.
xo