Who is a Financial Shopper?

When this website was created in 2003, I did not explain the meaning of financial shopper. However, I did not intend to keep this secret for nearly six years. Today, my definition of financial shopper will finally be revealed; it is much more than a person who shops for financial products.

Who is a Financial Shopper?

My definition of a financial shopper is the following: A person who creates a financial plan, with or without an advisor, which he or she is able to follow when spending five dollars at the grocery store to picking out mutual funds within his or her 401K. The financial shopper has reached financial planning “enlightenment” because he or she is more financially disciplined in comparison to the rest of the population. This individual is more than just a frugal shopper because a financial shopper actually sits down and completes a comprehensive financial plan that includes a budget, estate, insurance, and retirement plan and more, while a frugal shopper may only complete a budget and/or insurance plan, for example. My mother is a good example of a frugal shopper that budgets but has never completed a comprehensive financial plan.

Can You Become a Financial Shopper?

You can find a financial shopper in all of us. You do not have to be rich to become one. Therefore, a person can become a financial shopper with a net worth of two million dollars or one hundred dollars. Yet, in order to become a financial shopper, you must be disciplined in all of your money decisions; no exceptions will be allowed, even if the grandchildren beg you for candy at the grocery store, unless you have already budgeted for this expenditure in your financial plan.

Hopefully, this definition of a financial shopper is helpful to anyone that reads this article. Do not be afraid to describe yourself as a financial shopper in 2009 and beyond. As a result, you should use the term with your family, friends, co-workers and your financial professionals, including your financial planner.