What financial personality type will your children inherit from you? #BankLifeBalance

financial personality

Money plays such an important part in day to day life – it’s something that we can’t live without, but something that most of us worry about more than we care to admit.  In fact, 30% of UK adults say that money causes them the most anxiety and one in four parents are intensely worried about money.

If you’re one of the one in four, then you’re not alone  – I’m with you too.

Yes, I have to admit – money is something that “gets” me on a daily basis – are we saving enough? Do we have enough of a buffer? Am I “allowed” to spend (I don’t even know who’s permission I’m asking for here!), will we have enough for my daughter’s future whatever it may be, what if our income streams dry up as we are both self-employed and we fall into financial calamity as a family?

Just writing those words makes me feel anxious. Surely times won’t always be as good as this….

And so as I sit here and write this, I can’t help but wonder what sort of message all of this is sending to our daughter given that children learn spending habits from their parents and develop attitudes towards money at an early age.

With 58% of parents admitting they find it difficult to talk to their child about money,  perhaps it’s time we all became a lot more comfortable about money matters as parents – rather than brushing money matters under the carpet in our families?

Given that we ALL have a relationship with money, which in turn influences how we, and ultimately how our children acquire, spend and manage money – isn’t this something we should give a bit more thought to as parents? Especially if we want to raise more financially confident and competent children?

Surely, if we don’t want our children to worry about money,  feel awkward when discussing money, or worse still say that as parents we never gave them any financial advice, then we need to start feeling more confident talking about money too?

And here’s the thing – did you know in terms of enabling your children to feel comfortable about money, it’s the earlier the better? So let’s not leave it too late and start the conversation right here, right now.

I’ll start…..

My relationship with money

Looking back, I guess I’ve always been on the cautious side when it comes to money….a bit of an anxious sparrow….I was scared of getting into debt, I always had to be earning, as well as saving. I blame/attribute all of this crazy cautious approach to my Dad who was basically the same.

I’m a chip off the old block.

***Old photo warning***

I remember when my mum and I used to go out on a girl’s shopping trip, we would immediately rush upstairs and literally hide the shopping bags under the bed! I perpetually have a guilt of spending…and to this day the first thing I do when I return home from a cheeky H&M shopping spree is run upstairs and hide by bags. Old habits die hard. Especially when they’re passed on from our parents.

And that just goes to show just how influential we are as parents on our children’s future financial behaviour. 

As you can see, I only like to spend when I know it is safe to do (read: somewhere to hide my bags afterwards) and after I’ve shopped around! (read: that I’ve checked on ebay first to see whether I can get it at a fraction of a price!).

As for risk taking….well, perhaps the odd risk here and there but only after I’ve talked (and thought) about it til the cows come home.

The HSBC UK Bank Life Balance test

So with all that said, I’d like to introduce you to HSBC UK’s Bank Life Balance test where you can could find out your financial personality type (also a good predictor of what your children’s financial personality is likely to be seeing as their attitude towards money is likely to mirror yours, the parent!).

The launch of the test follows hot on the heels of the launch of Connected Money, the first app from a major bank that allows customers to see all of their accounts, loans, savings etc from all of their banks on one screen.

Intrigued? Here’s little taster of some the possible financial personality types you could be over on my YouTube channel here:


My financial personality typeyou

So having taken the Bank Life Balance test I’m a….

***drumroll please***

financial personality

Sensible Sage! 

According to the results of the test, for me, it’s all about having a practical approach to life and making sure you have a plan. Yup, you can call me the sensible one I guess! I like to save now and spend later, and be considerate in my actions. Thankfully I’m less likely to get into debt and am measured with my money right to the core. Bargains matter as well as finding the best deal.

Spot on!

I know for sure I have very much inherited this financial personality type from my father, and have to say as a parent looking at what financial type my daughter will likely inherit from me further down the line, I’m rather relieved to say the least!

Your financial personality type

Have you ever thought of what financial personality type you might be, and how that might be rubbing off on your children? Perhaps you’re a bit of a cash splasher, or maybe you fancy yourself as a savvy risk taker? Are you partial to investing? Or maybe you’re a straightforward saver…or even a hoarder! Or MAYBE you have made a concerted effort to change your approach to finance to become a better money role model to your children since becoming a parent?

You may already have an inkling what your financial personality type might be, or perhaps you have no idea!

Why not take the HSBC UK Bank Life Balance tesT here to discover more about your financial personality and see which you identify with most.

And once you’ve found out your financial personality type don’t forget to check out this Pinterest board I’ve put together full of handy content for your personality type:

Have you ever thought about your financial personality type before and how it might inform your children’s attitude towards money? Do leave a comment and share.

*This is a commissioned post  by HSBC




  1. It’s such an interesting topic – we talk openly about money and the value of it with our children because it’s so important. I don’t want them to think money grows on trees!

  2. I too am sensible! I do always feel guilty when I spend money on myself. However, I think that’s because of my/our experience of the recession with job losses and reduced pay. Money was incredibly tight and it taught me the importance of having a rainy day fund.

  3. I would be cautious with money too so would hope I could pass that on to my son. It just feels natural to me to weigh up the cost of everything against do I actually need it so I would like to install that attitude in my children.

  4. I’ve always thought myself quite good with money as I stayed at home during university, worked full time and saved loads in it’s been such a blessing as I was able to buy my first flat at 22. Although I do like to have a splurge every now and then x

  5. This is interesting because I like to have good finances, but also like to spend a little bit as well. I think it is always beneficial to have a bit of money tucked away for a rainy day… or for if the fridge ever breaks.

  6. I’m a Sensible Sage with you hun. I worry about money and the future all the time. Hubby doesn’t and it drives me mad. PS that’s the first time I’ve seen your little family unit. Gorgeous family!

  7. I thought I was rubbish with money but according to the quiz I’m a sensible sage too! I don’t have savings but I guess I am careful what I spend and try to keep track of what’s in the bank account xx

  8. Kian definitely takes after his dad and is a saver, whereas my older two are more like me and love to spend – hope they manage to reign it in a bit as they get older

  9. So I probably have a bit of a head start on this working in the industry. I am a savvy risk taker because I understand an element of investment. That saying I save more than I spend (generally) and I treat myself with one purchase at bonus time (I have a thing for handbags). But I never really thought how this affects Monkey. I am going to make more of an effort to talk to him about what we do with our money and why x

  10. Sounds like we have lot of different approaches towards money here! So interesting to see all the different types of financial personality here for those of you that took the quiz. Always so interesting to compare and contrast so thanks for popping back here to let me know what you ended up being those of you that did! x

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