When it comes to saving money, there are many types of savers out there. Some save little or not at all, and then there are the extreme savers or those that fall somewhere in between. You don’t have to be the family bread winner to help secure your family’s financial future. A stay-at-home mom can contribute greatly to the family’s finances by keeping track of the budget and living frugally. What type of saver are you?
There are really two different types of non-savers. The first type of non-saver would be the wife who let’s her husband worry about the finances. She doesn’t have a clue about the household budget or savings. She spends money freely. This head in the sand approach can be a dangerous habit to fall into.
The second type of non-savers is someone who doesn’t think ahead. They have a carefree attitude and don’t know if they’re saving, because they don’t know where their money is going. A non-saver might think they work very hard, so they deserve the best of everything. A non-saver pays their bills and uses everything left over for having a good time and non-essentials.
Slow and Steady Saver
This is a person who has committed to the slow and steady approach to saving. They consistently put a little aside each paycheck, and successfully build a nest egg over the course of time.
Self Invested Saver
One thing I’ve learned by watching programs like the Suze Orman show and reading literature from Genworth Financial is to pay myself first. The person who follows this self invested strategy, puts money into savings or investments before paying the bills.
These people build their savings by living frugally as a virtue. They keep expenses low by living a no frills lifestyle. The frugal saver shops with coupons and reuses and re-purposes items whenever possible.
This type of saver, saves money by being a master negotiator. They love to haggle and save money one bargain at a time. Negotiating is second nature for this type of saver, haggling over purchases both big and small.
The extreme saver is as the name says, extreme. They encompass all of the above saving approaches. This person both lives frugally and is a master negotiator. The extreme saver studies the market and religiously puts money into savings and investments. They know exactly how and where to put their money to keep it safe and make it grow.
I definitely fall into the Frugal Saver category. I live a pretty minimalist lifestyle and am one of those people who doesn’t like to buy anything without a coupon. I try to reuse items as much as possible. For example, I’ll never throw away pretty gift wrap or ribbons that can be used again.
What type of saver are you?
You might also be interested in 5 Stay- at-Home Mom Budget Tips and Simple Ways to Eat Healthy on a Budget.
I think I’m the slow and steady saver… buy, snail slow LOL. It was interesting to see the other ones though! I want to build up to being an extreme saver.
Laura O in AK says
I’m definitely a frugal saver right now. I try to set aside a bit at a time, but found that it was hard to manage with another adult in the house who’s a completely different financial personality.
I think I am a mix of several types. I am slow and steady, but make sure to put the savings aside first before the money runs out. I am also frugal and like to haggle, when appropriate, to get the most bang for my bucks!
Danielle Royalegacy says
I am a negotiator!
Lynn Ponder says
I am The Negotiator without a doubt 🙂
I am definitely somewhere between slow and steady and self invested saver. I wish I was more of a negotiator!
Robin O says
I am a Frugal Saver as well as a Slow and Steady Saver.
The important thing is not to live above your means!