7 Ways to Determine if You Are a Spender or a Saver ...

Do you know if you are a spender or saver? I believe that both have their benefits, although spenders and savers alike think that their choice is the optimal. If you’re not sure which side of the scale you stand on, keep reading! Here are a few ways to determine if you are a spender or saver, and the pros and cons to both sides!

1. Do You Have a Savings Account?

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One way to figure out if you’re a spender or saver is to take a look at your savings account. If you don’t even have one, that’s a good indication you aren’t a saver at all. If you have one, but it’s empty or nearly empty, that could be a sign that you have good intentions but don’t quite make the standard. Or it could mean that you have fallen on hard times and need to replenish your savings.

2. Is Your Paycheck Gone as Soon as You Get It?

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If your paycheck goes β€œpoof” within the first day or two of receiving it, that may mean that you are a spender! For those of us living paycheck-to-paycheck, your account may be on empty close to the end of the month, but spent on necessary things like groceries and bills. Spenders will usually tell you that money burns a hole in their pocket, so it must be spent right away.

3. Do You Have Specific Items on Your Shopping List?

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Savers generally shop for specific items. When they go out, they know exactly what they need and won’t typically get distracted. A saver CAN shop just to browse, but when that happens there is usually a price limit that any item they purchase must fall under.

4. Do You like to Splurge?

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Spenders LOVE splurging! In fact, they splurge on nearly any item they see and want. Savers enjoy the occasional splurge too, but are more reserved and careful about it. Splurging is usually more enjoyed when you don’t get to splurge often anyways, right?

5. Are You Dependent on Your Credit Cards?

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A spender typically relies very heavily on credit cards, and may be in a lot of debt. A saver could be in debt too, but usually due to large-scale items that they couldn’t wait to save up for. The credit card may be looked down on or disdained by a saver, while a spender revels in its glory!

6. Do You Think through a Purchase?

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Thinking through a purchase objectively is a quality found mostly in savers. A spender simply sees, wants, and buys! If you think through a purchase and buy it anyways, that doesn’t mean you are a spender. The fact that you thought it through is a good sign that you are a saver.

7. Do You Buy for Quality or Quantity?

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Savers like to buy for quality, while spenders usually buy for quantity. This isn’t always true, but it’s largely so. A saver would rather spend a little more money on something that will last a long while, while spenders see β€œhow many” they could get for one price.

If you find that you can identify equally with qualities of both spenders and savers, then you may have a good balance of the two! This is actually great, because you have the concept of saving your money, yet you know how to enjoy life at the same time. Did my list help you to decide whether you are a spender, a saver, or an equal balance of the two? Please comment below, and thanks for reading!

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