In everyday life it is inevitable that there will be expenses. However, it is good to know how to distinguish between essential expenses and less necessary expenses. Organizing your finances can serve as a starting point.

There are many tools to achieve healthier finances, including the budget, which expresses in monetary terms the resources available to a person in a given period to achieve their goals, according to Gestiopolis.

However, it is good to keep in mind that each issue is different, because individually it has different characteristics and this depends on each type of person. In a list from Forbes Mexico, spending profiles are defined to determine consumption habits and thus improve them.

What is the 50/30/20 rule? It allows you to meet your needs, fulfill your desires and save no matter how much you earn

The brain and its relationship with spending and saving

Behavioral scientist Sarah Newcomb explained in her book “Loaded: Money, Psychology and How to Get Ahead Without Leaving Your Values ​​Behind” that money management is determined by hereditary factors and by the environment in which each person develops.

A study titled ‘Journal of Consumer Research’ shows that there are people who become overwhelmed by paying and spending more than usual, while others experience subconscious pleasure so that there is no worry or regret.

Every person has some kind of spender profile and you should know this to better manage your finances | Photo: Pexels

Spending profiles

To improve a person’s relationship with money, it helps to be aware of his/her attitude towards money. These are the types of spender profiles and some of their characteristics.

(JO)