When It Comes To Money – Are You A Saver Or A Spender?

by Pam on March 11, 2010

Before you can improve your financial circumstances, it’s important to understand whether you are a saver or a spender.  Some people don’t even realize that they are actually fairly decent savers, while others don’t think they overspend when they actually do.  Take this short quiz to discover whether you fall into the category of saver or spender.

If you are a spender, then you more than likely find great satisfaction in buying tangible things like cars, video game systems, and practically anything else that could be considered a gadget or gizmo.  You would far prefer to spend your money than to save it.  You like to buy products when they first come out on the market even if they are overpriced.

Spenders will find it easier to save if they set up preauthorized payments towards their savings and investments accounts.  That way, any money left over will be available to spend.  If they don’t set up any sort of preauthorized method, they will find it extremely difficult to save any money.

By contrast, savers are able to save money with ease even if they don’t make a lot of money to begin with.  They have no trouble making saving a priority in their budget and they will avoid doing anything that they consider is a waste of money.  Savers will likely wait until a movie they want to see is playing at a cheap theatre.  They are willing to wait for things and pay less for them.

In order to keep balance in their lives, savers should make sure to save enough to be secure, however, they need to allow themselves to spend some money in order to do things that they enjoy.  Life is too short to hoard it all in a bank account.

So, as you can see both savers and spenders have to try to maintain a proper balance between saving and spending.  There’s nothing wrong with both saving and spending, so long as it’s not so extreme that it causes your life to be less than it should be.  Developing healthy money habits is essential and the first step in doing so is to recognize whether you are a saver or  a spender.

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