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Are You a Saver or a Spender? 10 Ways to Find Out

Personal finance is an important aspect of our lives, and understanding your spending habits is one of the many steps towards achieving financial stability and success. One of the fundamental distinctions in the world of personal finance is determining whether you are a saver or a spender. Identifying your financial personality can help you make informed decisions, set realistic goals, and ultimately improve your financial well-being. In this blog post, we’ll explore 10 ways to determine if you are a saver or a spender.

  1. Track Your Expenses:

The most straightforward way to gauge your financial tendencies is by tracking your expenses. Take a month to record every dollar you spend and the category in a spreadsheet. Once you’ve done this, analyze your spending patterns. Are you surprised by how much you’ve spent on non-essentials? Or are you pleased to see a significant portion of your income saved?

  1. Review Your Bank Statements:

Reviewing your monthly bank statements can tell you a lot about your financial habits. Do you notice frequent withdrawals or payments to retail stores and restaurants? If so, you might lean towards spending. On the other hand, consistent transfers to a savings account indicate a saver’s mindset.

  1. Assess Your Financial Goals:

Think about your long-term financial goals. Are you actively saving for retirement, investments (e.g. with Endowus, Syfe, Stashaway), or major life expenses like a home or education? Savers often have clear financial objectives and consistently work toward them.

  1. Impulse Buying:

Take a moment to reflect on your shopping habits. Do you find yourself making impulse purchases regularly? Spenders are more likely to indulge in unplanned shopping, while savers tend to make deliberate spending decisions.

  1. Reaction to Windfalls:

Consider how you react when you come into unexpected money, like a bonus, or gift. Do you immediately think of ways to spend it, or do you prioritize saving and investing? Your response can reveal your financial tendencies.

  1. Budgeting:

Do you create and stick to a budget? Savers are more inclined to create budgets to track their spending and saving, while spenders may resist budgeting or struggle to follow one.

  1. Emergency Fund:

Evaluate whether you have an emergency fund in place. Savers prioritize building a financial safety net, while spenders might not see the immediate need for one until a crisis arises.

  1. Credit Card Balances:

Examine your credit card statements. Are you consistently carrying a balance and paying interest? Savers often use credit cards strategically, paying them off in full each month, while spenders may accumulate debt.

  1. Future Planning:

Think about how often you plan for future financial needs. Savers are more likely to think ahead and prepare for retirement, education, and other long-term expenses, while spenders may focus on immediate wants.

  1. Delayed Gratification:

Consider your ability to delay gratification. Savers tend to take priority on long-term financial security over immediate rewards, while spenders may prioritize immediate enjoyment.


Understanding whether you are a saver or a spender is essential for managing your finances effectively. It’s important to note that these tendencies can change over time with conscious effort and financial education. By identifying your financial personality and taking steps to align your habits with your financial goals, you can work towards financial security and a brighter future. Remember that achieving a balance between saving and spending is key to financial success.

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