This thread got me wondering how the folks here at the SDMB catagorize themselves in regards to how they spend or save money.
Would you categorize yourself as a saver or a spender? To qualify and clarify:
[ul]
[li]I am not referring to those who must be savers as a result of a limited income.[/li][li]I realize there is a huge middle ground. For example, one may be generally thrifty but may indulge on certain things. I say take your best guess as to which you qualify as and then use as many paragraphs as necessary to elaborate.[/li][li]I do not want to imply that one choice is better than the other. I myself am a spender and yet I can see great virtue in being a saver.[/li][/ul]
I would consider myself a spender. This is a very new and exciting thing for me. I have always been poor and had to be frugal out of necessity. I am just getting to a point in my life where I have discretionary income and I love it!
In general I remain thrifty as old habits die hard. I often by my clothes at thrift stores, yard sales, or discount style stores (a la TJ MAXX, etc). I often buy store brand rather than name brand.
What makes me a spender is that I don’t hesitate to put expensive cuts of meat, cheese or just plain fun foods into the grocery cart while I’m grocery shopping. I like to go out to eat with friends and do it fairly often. I enjoy cooking at home too but I don’t feel guilty about spending money on dinner - even an expensive dinner. I occasionally splurge on small gifts for my family, my friends and myself just because I can. I travel as much as I can.
I figure I work hard to earn my money and I want to enjoy it! I have no desire to die atop a pile of money. I have no desire to live in a self-imposed impoverished state.
Definately a saver. I love knowing that I have money socked away in my 401k, investment accounts, saving accounts etc. (BTW I’m only 26, these are not vast sums a la Scrooge McDuck). That said, I don’t mind spending on things I really want – like a horse, saddle, shoes for my horse, blankets for my horse, treats for my horse… well, the list goes on g.
I’m not excessively thrifty and do go out and such. But I love to live within my means such that my bank accounts go “ever upward.” I find that a lot more thrilling that shopping. That’s what makes me a Saver, I guess.
I’m a saver. After paying the bills there’s not a whole lot leftover to go hog wild with but instead of buying a $50 outfit for myself I’ll spend $30 taking the family out to eat (2 adults and 2 kids can eat out on $30!) and then spend $20 on stuff for the kids. I do try to keep a little extra money in my savings account just in case the car breaks down or there’s extra doctor bills to pay.
My SO OTOH is a spender! He only wants the best and he is willing to pay the money for it. All of his home entertainment stuff (TV, VCR, DVD player, etc.) is Phillips brand! The DVD player cost almost $300 by the time he got everything he needed/wanted for it. It would have killed me to spend that much money on a DVD player! He won’t buy it if he can’t afford it though… that’s the good thing. Money burns a hole in his pocket. If he has cash on hand, he’ll spend it. I’m not saying he spends it on stupid stuff though. Sometimes he’ll take the family out or buy the kids a new toy or buy me something I want but am too cheap to spend my own money on. Stuff like that.
Until recently, my wife and I were on a very tight budget, so we really had to limit purchases and such. My new job got me a raise, and I may get another soon, but I have been more or less keeping in with the habit of limiting what I buy. Which isn’t to say I don’t have binges (I did this weekend) or that I deny myself things I really want, but I’ve become more likely to question whether or not I really need whatever it is I’m looking at.
Generally, a saver. I like to spend money on certain things, but I am really not a big consumer. It’s only been recently, in the last 2-3 years, that I’ve been able to actually spend money when I’ve wanted to. Still, a saver.
Before I married, I was definitely a saver. Hubby absolutely was not. He won me over to his side, and we went thru my saving, then amassed a bunch of debt.
We’ve been working hard of late to get rid of the debt - all that remain are 2 credit cards, one car, and one boat. We’ve also got several thousand dollars in the bank as a cushion - I decided that being in our 40s means we shouldn’t go running to either set of parents when we get in a pinch.
Anyway, now we’re saver/spenders - building up a cushion, paying off debt, and still having fun with some discretionary cash. And in 3 years we’ll have college expenses crashing upon us - fortunately, our Perfect Child[sup]TM[/sup] is well on her way to getting scholarships, so that will help.
Definitely a saver! Being out of debt feels better than buying anything could possibly feel. I’m very much looking forward to my comfortable old age spending my retirement money, which will have snowballed due to the magic of compound interest!
My spouse and I can dine on jumbo shrimp and the most expensive cuts of steak from the supermarket for considerably less than the cost of one meal at a fast-food place.
Which is not to say that we never splurge. We just make sure we really want something before we buy it, and do some research on pricing.
I have a theory that good relationships have one saver and one spender - and the saver controls the cash flow. I’m the saver, he’s the spender.
Here’s the way it works. I want a video camera. Won’t spend the money - can’t pull out the checkbook to do it. Hubby is a the store and asks “do you want anything?” “Yeah, a video camera - spend this much.” He does. He gets to spend, I get what I want without having to overcome my psychosis.
And I agree with bluethree - love being debtless - the only thing hanging over my head right now is my mortgage (and I can’t wait to write the last check for that).
I used to be a saver–more of a hoarder, really–I invariably had Halloween candy left over at Easter.
I finally managed to loosen up and realize that if you don’t spend a little, the money’s no good.
Now I consider myself pretty spoiled. If I see something I like, I get it. If it’s a big purchase I make sure I take a little while to think about it, but if I still want it after a couple of weeks, I get it. My husband is a bit more impulsive, but I try to get him to do at least a little cost-benefit analysis.
Now, that having been said, We’re still saving, socking money away in the ol’ IRA. We are just in a happy place in our lives when we have plenty of money. We have a modest apartment, own both of our (rather old) cars free-and-clear, and don’t have any extravagent habits.
This delightful combination of self-indulgence and financial security is one of my Top Five Reasons I Don’t Want Children.
Like Podkayne, I used to be a hoarder/saver and some of that carries over to today: I’ve paid off my car 1 1/2 years early, I never carry a balance on my cards and haven’t had debt since I was with my ex (3 years, now.)
Still, if I see something I want, I buy it. It’s irritating for my parents (and me for them for the same reason) as we never have anything to buy each other for birthdays or Christmas since we just go ahead and buy something when we decide we want it. (And yes, my IRA’s and 401k are doing swimmingly.)
No longer having that car payment = an extra $400/month in the bank, which certainly helps. I used to spend ~$300/month in cash (read: I don’t know on what, but I spent it) and now that still means I have a surplus, which is nice.
Podkayne also pretty much nailed my spending habits. My debt is pretty low (mortgage, one car of two to pay on, student loans). I don’t carry a balance on any of my credit cards. Money is being put away for retirment. I don’t spend beyond my means.
But, I don’t try to save every dime of my discretionary income either. I used to deprive myself of luxuries out of habit. Now I’m beginning to realize that I can enjoy some of my money now.
I like to spend smart but I don’t want to be miserly. Not that there’s anything wrong with that (to quote Mr. Seinfeld).
I don’t like spending money in big ways. I hesitate or make excuses so as not to have to actually spend.
But then again, occasionally I’ll suddenly buy something ridiculously expensive just because it’d be kind of cool to have it. For example, I have two video capture cards in my computer. However, I do not have a DV camera of my own. I could and should buy a DV camera, but I really can’t bring myself to do it, even though the two capture cards add up to half a DV camera in price anyway.
I also have many Star Wars and spfx books that collectively would be a $2000 or so - why? Because I collect them, I guess.
I hardly hesitate to buy a special edition DVD from the US (the ones you can’t get here) but I really can’t bring myself to buy a local one here (like I have the T2 Sp Ed from America, but don’t have the Alien Legacy collection available here).
Have to agree with “dangerosa” one spender and one saver in a relationship works well. I am the saver and my wife is the spender. If not for her the kids would be going to school in wholly jeans and grubby t-shirts. She manages to pry the check book out of my hands to buy the necessary things in life. I get absolutely giddy seeing the bank account grow :). 5 years ago was unemployed for 5 months and had to dip seriously into the 401k funds and am still PISSED about that. I like to spend money on the home which I justify as being an appreciating asset vs a car which is always a losing bet. Cars, pay cash and drive them into the ground and then throw them away!
My mother and her sister invented copper wire by trying to pull a penny out of each others hands.
I am definately a Spender. I have just recently graduated from university, where I had little money and I now have a good job so I spend everything I earn.
I have absolutely nothing in the bank!!! I know I should save but I find it very difficult to do it. I just love going out with my friends for dinner, to pubs and clubs, I spend money on clothes that I don’t need.
Money burns a hole in my pocket (or in my bank acc!!)
