Firstly i'm of the opinion that money does not change people, it rather brings out their inner desires about what to do with it; because change is something that happens intentionally (which many might not appeal with.) If i'm given $1million, being an extravagant spender, the chances are that i might spend all. But if with my extravagant life style I love to spend before i earn, I might look for the best investment suitable for my lifestyle so I don't spend and remain broke.
The only way I will go broke is if I am not investment minded. Also if I had a minimalistic lifestyle, two things might happen, I would be so overwhelmed in making all my dreams come true and might spend recklessly not because am extravagant but because I haven't handled such money before and spend with the intention of wanting to make my dreams come true.Or i would make a budget on what I would do with the money, get a working plan and discipline my self to work with it.
The difference between a minimalistic and an extravagant spender is what both spend on, if I am an extravagant spender I will spend more on liabilities with less assets, but a minimalistic spender would spend on assets and investment and Might spend on little or no luxury, but if it happens that a minimalistic person spends the entire money, it's not because of change but lack of training and experience in spending.
I am inviting @otshotz and @attentionneeded to join this community and partake on this Contest if they want to.