Meet 4 Different Types of Saver

Ever since we were kids, our parents have been encouraging us to save. Some of us took this for granted, while others were wise enough to follow their parents. Now that we are older (and more mature), we know the importance of saving. The beauty of it all, however, is that no matter how old you are, it is never too late to start saving. So even if we did not persevere when we were younger, we could still save money if we start now. The outcome of your decision to do so will depend on the kind of saver that you are. Four types are common nowadays. Find out if you belong to any of these types:

1. The Never Spender

Well, the term never almost describes this type of saver. This saver is the one who would not spend a single dollar if it is possible. Sometimes, The Never Spender will even forego everyday necessities just to make sure that his/her money is intact. This saver spends less…less than he/she should, so much so that sometimes, getting out the wallet to pay for something – even a basic need – can be too painful.

2. The Master Saver

The Master Saver is the most frugal person in the universe. Whenever he/she saves money, The Master Saver is happy. The most important thing for this type of saver is financial independence, which is why he/she enjoys saving money. This is the kind of person who does not put a lot of value on material things and ignores the pressures that society puts on him/her because of this attitude. The most important thing for The Master Saver is saving money, not spending it. If one becomes too obsessed about frugality, though, he/she can turn into a Never Spender.

3. The Recycled Saver

The Recycled Saver is the person who does not throw away anything because he/she believes they can be used again. Someone who keeps plastic food containers so they can be used again; to store food inside the fridge or as a case for trinkets or jewelry. The Recycled Saver saves by recycling even gift wrappers.

4. The Consistent Saver

This is the kind of saver you should aim for. He/She is not in a hurry but makes sure that he/she saves some amount in the bank (or wherever else he/she prefers to) every time payday comes. It does not have to be big chunks of cash; any amount will do as long as it can add up to the savings balance. The money that comes in may be slow, but the savings grow steadily.

Image source: www.moneysmart.gov.au