Most people, at some point in their lives, will find themselves in debt. Whether it’s a new car, mortgage, student loan or credit card, knowing how to manage your debt is incredibly important.

We all deal with debt in different ways, and there are five main animal types which correspond to the most common debt management personalities.

Which animal are you?


The grasshopper in the story sang all summer and starved in the winter, and this is you to a ‘T’. You may manage to clear your debt at times, but switching between periods of splurging and periods of fasting, with no middle ground, means you never learn any good money management skills. With an attitude like this, you’ll probably never be completely debt free.


You bury your head in the sand and refuse to take responsibility for your debt problems. But whilst your head’s under the ground, your debts are beginning to build up around you. This kind of situation can be incredibly dangerous, and may mean that when you finally decide to come back up for air, you’’ find that you’ve become buried in debt without your realising.


You absolutely must have the latest credit options, and everything about you is spend spend spend! But what this means is that you keep constantly adding to your debt, without clearing off your existing balance beforehand. Even if you pay all of your minimum payments and never default, you’ll still never be financially secure if you act like a magpie.


You’re loyal to your lenders and don’t like the idea of change. So instead of shopping around to find the best debt management strategy possible, you stick with what you know and plod along without exploring any other options. But this might mean you’re not getting the best rates available, and you could end up paying over the odds for your debt.


Somewhere along the line you’ve ended up in debt, but this may not necessarily be your fault. After all, we can build the strongest damn possible and yet still run the risk of an unexpected financial storm coming down and sweeping it all away. But, like a beaver, you simply get to work reducing your debt by contacting an expert debt management company like, and start saving up for the future again. This is a great attitude to have, and just goes to show that becoming debt free is perfectly possible when we act like beavers.

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