diff --git a/src/wallet/receive.cpp b/src/wallet/receive.cpp
index df3fbc0877d..13a25b36326 100644
--- a/src/wallet/receive.cpp
+++ b/src/wallet/receive.cpp
@@ -195,7 +195,10 @@ void CachedTxGetAmounts(const CWallet& wallet, const CWalletTx& wtx,
 
 bool CachedTxIsFromMe(const CWallet& wallet, const CWalletTx& wtx)
 {
-    return (CachedTxGetDebit(wallet, wtx, /*avoid_reuse=*/false) > 0);
+    if (!wtx.m_cached_from_me.has_value()) {
+        wtx.m_cached_from_me = wallet.IsFromMe(*wtx.tx);
+    }
+    return wtx.m_cached_from_me.value();
 }
 
 // NOLINTNEXTLINE(misc-no-recursion)
diff --git a/src/wallet/transaction.h b/src/wallet/transaction.h
index bc6f0ef8450..1dbcdd2d921 100644
--- a/src/wallet/transaction.h
+++ b/src/wallet/transaction.h
@@ -232,6 +232,8 @@ public:
      * CWallet::ComputeTimeSmart().
      */
     unsigned int nTimeSmart;
+    // Cached value for whether the transaction spends any inputs known to the wallet
+    mutable std::optional<bool> m_cached_from_me{std::nullopt};
     int64_t nOrderPos; //!< position in ordered transaction list
     std::multimap<int64_t, CWalletTx*>::const_iterator m_it_wtxOrdered;
 
@@ -339,6 +341,7 @@ public:
         m_amounts[CREDIT].Reset();
         fChangeCached = false;
         m_is_cache_empty = true;
+        m_cached_from_me = std::nullopt;
     }
 
     /** True if only scriptSigs are different */