Planner Spender: Expectation vs. Reality
The biggest, best, and shiniest have always drawn you, and you pursue innovative products with unbridled enthusiasm. Your attraction to excellence means you constantly look for ways to improve your life and financial circumstances. Your money is organized, and you have lofty goals, such as luxurious vacations and a beautiful home.
If this sounds like you, then you’re a Planner Spender! Your taste for top-notch products can help you optimize your life and advise others to do the same. However, it can also be a hindrance because you might throw money at a fancy lawn tool or a high end television, only to regret it later.
Additionally, your gusto can make distinguishing between ‘want’ and ‘need’ challenging, and your wallet occasionally takes unnecessary hits.
So, how do you balance your financial life?
What is a Planner Spender money personality?
Planner Spenders love to upgrade their life through the best products and services available. For instance, you might continually buy the most updated phone or plan epic vacations. As a result, you stick to a budget to accomplish your dreams – and if you can use the latest financial tool or app to do so, all the better!
However, you might need help controlling impulse spending. As careful a saver as you are, you likely have an Achilles’ heel when it comes to purchases you think will improve your life or impress your friends. As a result, your budget might give you the illusion of control while you spend freely on whatever makes you tick.
In close relationships, your organization makes you trustworthy. However, you tend to chase products of high quality or prestige (that you don’t need) and downplay spending in areas that don’t interest you, which can create discord. So, communicating and remaining accountable are crucial to balancing your spending habits with a spouse or loved one.
Planner Spender: Strengths
Your financial approach has these benefits:
- Affords a comfortable lifestyle.
- Consistent and diligent.
- Gives to others freely.
- Sets short- and long-term financial goals.
- Contributes to savings monthly.
- Judicious handling of money creates stability in relationships.
Planner Spender: Weaknesses
However, you might experience the following disadvantages:
- Can become conceited and fussy.
- Always chasing the next best product or experience.
- Can be obsessed with displaying wealth or status.
- Regular large purchases can drain the bank account.
- Can put on a show of financial security while struggling through hardship.
- Attempting to afford the ideal lifestyle and manage financial stress can strain close relationships.
Planner Spender in real life
Taylor Auger is a technology coordinator for a school district in Connecticut. He and his wife use Qube to organize their spending and plan camping adventures with their two children. A self-described tech nerd, Taylor’s passion is buying the newest gizmo in the market – even when he knows he doesn’t need it.
He and his wife have the financial goals of paying off their house and saving for their children’s education. They don’t have conflicts over spending, but early in their marriage, Taylor would hesitate to spend on a date night or a fun experience because it didn’t fit into his plan for spending more on technology. He struggled to be content while trying to meet his desire to improve his life through the next best phone or computer.“Technology is super fun for me, both in my job and life,” says Taylor.
As a Planner Spender, Taylor enjoyed optimizing his spending plan early in his marriage, even when budgeting was time-consuming. Taylor targeted products on sale and used a host of budgeting apps to regulate his spending. He and his wife built up an emergency fund and saved a bit of money.
“If I’m not careful, I’ll base my spending on emotions. The thrill of chasing and buying the best product is exciting and rewarding. But I usually regret the purchases after the pursuit is over, and I realize I don’t need what I bought,” says Taylor. “Part of my spending habits are a response to how I grew up. Even though my family had plenty of money, it never felt like it because my parents were reluctant to spend extra for a single treat or luxury. So I want to balance my habits between financial wellbeing and having fun.”
While Taylor’s weakness is tech spending, his biggest strength is his love of organization. He loves budgeting because he sees it as a way to optimize his life. He knew he found the answer to his competing desires to save and spend when he encountered Qube.
“There’s nothing else like it on the market. Qube helps you make conscious financial decisions in the moment by setting your spending plan ahead of time. Once you construct your budget, it runs itself. It’s the most versatile tool I’ve found; you can change and update your Qubes as needed,” says Taylor. “If I were to design and build a financial tool, Qube is what comes to mind.”
Taylor has been able to change his spending habits through Qube’s virtual envelope system. In addition, he harmonized financial priorities with his wife, a Maverick Saver. Now, they are saving for a Disney vacation for their children while they continue to build their investments and enjoy minor purchases along the way.
Money management tips for Planner Spender
Here are some quick tips for Planner Spenders. First, put money away for your long-term goals and create some controls around accessing your savings with an accountability partner to protect you from spur of the moment spending decisions on big-ticket items. Second, add a category or two in your plan for some things you really want to purchase. Third, use technology that creates firm boundaries and real-time awareness around the purpose of your money. Fourth, if you share money with someone else, build a plan together.
An accountability partner for big purchases is crucial to help you separate appearances from reality. For example, extravagant purchases might give you a rush, but the ramifications later can put a damper on your financial health and relationships. In other words, keeping up with the Joneses or having the latest and greatest electric vehicle might seem paramount – but pursuing your financial goals will bring more peace and wellbeing in the long run.
You can take your financial management a step further by making room in your budget for your favorite obsession without going overboard. This strategy will allow you to enjoy that product that makes you tick – such as fashion, cookware, or tablets – while helping you prioritize other goals.
In the past, Planner Spenders would take hours each month organizing paper envelopes to regulate their spending. Luckily, digital tools and new technology make budgeting a snap. You can optimize your financial habits from your phone and see where your money goes on the fly.
Finally, if you have a spouse or partner you share money with, your financial plan can help you meet shared goals while making room for fun. For instance, a digital savings tool allows you to see how expensive of a date night you can afford after putting the intended funds aside for next year’s vacation.
Best management tool for Planner Spender
The structure from Qube’s money management system will help you make better decisions in the moment. Your Qube budget will bring symmetry between essential financial behaviors (like saving for retirement) and your motivation to improve your life through buying cutting-edge products. Plus, you can adjust your spending plan as needed, so you can treat yourself or tighten the purse strings as you go.
As a Planner Spender, you love tracking progress through your life journey, including your pursuit of financial wellness. Qube helps you cultivate a healthy relationship with money because you’ll set checks and balances ahead of time. As a result, your virtual envelopes empower you to enhance your lifestyle without regrets.
In addition, if you have a spouse or partner, Qube’s digital Cash Envelopes allow you to coordinate your spending plan and track your financial goals. For example, Qube can help you save for a vacation or a down payment for a house even if you have different financial priorities with the rest of your money. In other words, you can spend guilt-free knowing Qube is keeping you on track financially.
Financially thriving as a Planner Spender
When it comes to financial health, you need the best budgeting tool to help you move forward. Qube’s unique budgeting approach will help you optimize your finances. By balancing your love for innovative products and desire to save money, Qube promotes control of your finances and empowers you to buy products that draw your interest. You may have used budgeting systems or apps in the past, but Qube’s modern cash envelope system will put you at ease and create needed budgetary boundaries.