TransUnion conducted research to help marketers understand how consumers are responding to today’s economic pressures. The insights may also be useful for individuals who want to make smarter money choices.
The four consumer groups identified by TransUnion may translate into financial personalities, which are not defined by income alone, but by a mix of age, life stage, and goals.
1. Stable spenders
Stable Spenders are typically between 35 and 64 with household incomes above $150,000. Most own homes, many are married, and a large share have children at home.
They continue to travel, dine out, buy cars, and upgrade their lifestyles despite higher costs, and they are heavy users of loyalty and rewards programs. While they notice rising prices for groceries and insurance, they are among the least likely to cut back.
If you are a Stable Spender, your footing is strong. The challenge is avoiding complacency. Enjoy the comfort you have built, but keep retirement savings, insurance, and long-term wealth plans on track.
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2. Young strivers
Young Strivers are mainly Gen Z and younger millennials in big cities such as New York, San Francisco, Los Angeles, and Chicago. They typically earn under $50,000 but spend with enthusiasm, often chasing experiences, fashion, and social status.
Streaming is a priority, with heavy use of Netflix and Amazon Prime and a higher chance of adding Max or YouTube TV. About 40 percent wait for tax refunds before making major purchases, while cutting back on home improvement and electronics.
If you are a Young Striver, your energy is a strength. Build stability by setting aside even small savings, and choose affordable experiences that add value without creating stress.
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3. Purposeful planners
Purposeful Planners are usually 25 to 44, earning $75,000 to $150,000, and often raising children in more affordable areas. They focus on building the future while still enjoying some of the present.
They spend on travel, dining, and cars but are selective with extras. Loyalty programs and value-driven offers appeal to them, and their streaming choices lean toward Hulu and Disney+. Budget discipline here is less about financial strain and more about staying on track for long-term goals.
If you are a Purposeful Planner, your forward-looking mindset is a strength. Keep balancing family priorities with retirement and college savings, and use rewards programs wisely.
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4. Budgeting realists
Budgeting Realists are typically 45 to 64 with household incomes under $50,000. Many are underemployed or unemployed, so stability is a daily challenge. Their spending goes almost entirely to necessities such as food, clothing, and housing, with some relying on Buy Now, Pay Later for essentials.
This group values affordability above all and looks for deals on everyday items. Advertising rarely resonates unless it highlights clear savings.
If you are a Budgeting Realist, your discipline is a strength. Use community resources and assistance programs to stretch your budget, and explore ways to boost income through training, part-time work, or side hustles that fit your circumstances.
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Turning insights into action
Knowing which is your financial personality is only the first step. The real value comes from using that knowledge to make choices that fit your life stage. Inflation and economic pressures affect everyone, and understanding your own patterns of behavior helps you respond with more confidence.
The economy may be beyond your control, but how you respond is not. Recognizing your tendencies is the first step to making choices that work for you.
If your financial personality is overshadowed by more than $10,000 in unsecured debt, you may benefit from some professional help. National Debt Relief is a trusted source for free advice and assistance.
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