At the beginning of the new year, it is the best time to reflect on financial habits and make some changes. Setting new year’s resolutions allows you to commit to a meaningful and achievable financial plan. But first, it’s important to understand your own concepts and attitudes towards money.
Steph Wagner, a recognized thought leader in women’s wealth and financial empowerment in the United States, currently serves as the national director of the Women and Wealth division at Northern Trust. In an article on CNBC’s website, she mentioned that for over a decade, she has been working with clients going through life transitions (such as divorce and retirement), helping them pave new financial paths. Based on her experience, there are six money personalities representing people’s concepts and attitudes towards money and how they manifest in daily life.
Wagner provided the best financial advice for each money personality in 2026:
• Givers are very generous and willing to give to others. However, this may lead to excessive spending and neglect of personal financial needs.
For givers, Wagner’s advice for 2026 is to find balance. By careful planning and increasing awareness of when to say “no,” you can continue to help others without jeopardizing your own financial situation.
She pointed out that there are many ways to help others, and time and talents often have a greater impact than money.
• Trendsetters lead the way. These individuals are confident, willing to take calculated risks. However, their strong independence may lead to burnout and reluctance to seek help.
Wagner suggests that while trendsetters may excel at creating wealth, managing wealth requires different skills. Learning to delegate is crucial and will ultimately reduce stress.
• Skeptics often feel greedy about money, and this distrust can hinder financial development. They may struggle with feeling unworthy of wealth while also being anxious about pursuing it.
Wagner advises skeptics to interact with economically successful, kind, and generous individuals to help reshape their views on money. Witnessing how wealth is used for good deeds can help dispel the inherent notion that wealth inevitably breeds greed.
• Spendthrifts live in the moment and have no interest in saving for the future. The consequences could include mounting debt, and their continued pursuit of pleasure may leave them feeling empty inside.
Wagner recommends exploring how to deal with emotions like boredom or anxiety to help reduce impulse spending. Utilizing budgeting apps or expense trackers, as well as engaging in deep discussions about the relationship between self-worth and material wealth, can help increase self-awareness of spending habits.
• Savers are habitual in saving money, disciplined in spending, and very frugal. In general, they dislike debt and risk, fear losing everything, and may miss opportunities to increase wealth or gain valuable experiences.
Wagner suggests that learning basic investment knowledge can help savers make planned risky investments. Setting specific spending goals can shift your focus from what you might lose to what money can help you gain and experience.
• Avoiders prefer not to think about money matters, often unaware of their financial situation. However, the more they avoid reality, the more anxious they become.
Wagner recommends spending just 10 minutes per week reviewing account balances, analyzing expenses, or seeking help to make it easier for you to manage your financial situation.