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Confessions of a current account

Liberty Spender / Secret Squirrel

Sophie from Sophie's Suitcase

London-based Sophie is a 20-something blogger who was bitten by the travel bug back in 2010, when she took her first trip to Vietnam. Since then, she hasn't looked back, and travels the world whenever she can, documenting her globetrotting antics on her popular blog, Sophie's Suitcase.

When it comes to money, Sophie claims she's pretty shrewd with her finances, saving a considerable amount on a regular basis while still paying off her student loan. She doesn't spend a great deal on her regular food shop and has breakdown cover for her car. However, she does like to splash out occasionally.

We asked celebrity psychologist Jo Hemmings to take a closer look at Sophie's financial life. Jo has appeared on ITV's Good Morning Britain and This Morning, and written for magazines such as Cosmopolitan and Grazia.

Here's what she had to say about Sophie's spending persona:

Image of Sophie

Psychologist Jo Hemmings on Sophie

"Sophie has a pretty good handle on her spending and her saving; I would describe Sophie as a pretty even split between a shrewd secret squirrel and an adventurous liberty spender."

"She has the usual expenses of rent, utility bills, mobile phone and car costs, and puts away between £100 and £200 a month in a savings account, towards a deposit for a mortgage."

"Her food bills are fairly modest and she's wise enough to have breakdown cover to make sure that she doesn't get any unexpected surprises from her car breaking down. She also shops around for discounts and bargains for anything from meals out to clothes shopping."

Well balanced

"She seems to be well balanced, enjoying the odd indulgence like weekends away and meals out, but there's a few lunch and coffee costs which she could probably save on if she were to make her own, especially when she's working from home."

"She has no credit cards and doesn't like to owe money, but like most young people she's still paying off her student loan."

"She describes her weakness as clothes and judging by the last month, she is actually spending more than she thinks. A lot of cheaper clothes, even from bargain outlets or shops, can add up quite quickly."

Keeping it real

"She seems to prefer shopping offline, so in my opinion she should take cash with her - rather than use a debit card - for clothes spending as that makes the amount she's spending more 'real'. Perhaps reselling her unwanted clothes on an auction site would bring in some extra cash."

"All in all, Sophie is very much aware and usually in control of her monthly incomings and outgoings."

"Liberty spenders and secret squirrels are often very shrewd with their finances, both making the most of their available spending money, while also ensuring that they get the best possible return on their savings."

"They are motivated by balance and harmony. They are usually organized and orderly in many aspects of their lives, only feeling comfortable when everything adds up tidily and neatly - literally and metaphorically."

"Rarely thrown off balance financially, it is most likely to happen if they meet a partner with very different financial views to them or mix with a crowd socially, who care less about saving than spending. Either may influence their own good habits."

Image of Jo Hemmings