Today I want to introduce you to Lavish Lucy, another one of the five money styles. Lavish Lucy is a nice person, generous too, but she can’t save a dime to save her life. Why? Because she is too busy spending!

She makes poor financial decisions, because she enjoys spending money more than she enjoys saving it. On the plus side, it is great that she can live for today, but it wreaks havoc on her long-term financial future.

Lavish Lucy often enjoys spending money on her friends and family, treating them to gifts and outings, but she also likes spending money on herself, trying to impress others and to show them she is OK when she may not be.

While this behavior makes her seem generous, it can cause serious problems for her – making her late on her bills, spending money she could be saving for her future, and avoiding making educated decisions.

Lucy is a good match for Frugal Freddy (see previous post) who can help her balance her spending with saving. She would also get along well with Wise Wesley, who can help her make better financial decisions including investing in her future.

Please subscribe to my RSS feed or check back periodically to meet other friends of Frugal Freddy and Lavish Lucy. Up next: Cautious Casey!

~ Meka, Penny Smart Girl