People have different attitudes towards savings and while it can be difficult for some, it can be very natural and comfortable for others. Savings remains a question of mind-set. Let’s look at a few types of savers:

1. Hardcore savers: these are born savers who take savings as priority and plan before buying anything. They are not spontaneous spenders and most of the times appear to be stingy to most people because they don’t just spend without planning.

2. Seasonal savers: They engage into savings only when they have a project at hand or a goal they want to achieve. They do a lot of savings in their minds but take little actions to actually save. They are not very strict on saving.

3. Investment savers: These are risk takers who do not believe in leaving money to idle in the bank. They invest into diverse activities for high returns and to avoid having all their resources in one basket.

4. Save and spend: those in this category see their savings as a reserve they can run to at anytime. They are spontaneous spenders and buy anything as long as the money is available. They don’t have any savings plan and end up spending more than they need.

5. Debts savers ‘’rub Peter and pay Paul’’: These people borrow to save, hoping for money to clear of the debt. They save from what they are yet to earn (overdrafts, loans…etc).

6. Progressive savers: these are people who engage into insignificant periodic savings but are faithful and consistent to the small amount decided on. They might only increase it timidly when they experience an increase in their income or a drop in their expenditure

No matter the type of saver you are there is always an option that will suit your expectations.

Honorine Ambe