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Saving money is itself not a very appealing or adventurous task, rather a difficult one.

But, matching your money saving strategy with your personality – Interesting… Right?

At least, it’s worth giving a try.

The trick is to realize and understand your personality and then plan a money saving strategy that fits your personality without much effort.

So, find out what’s yours…

You like to visualize everything

It is quite an interesting personality. Achieving the results become easier when you’re able to visualize it properly.

When you save a certain amount, say $100, you don’t actually see that amount in front of eyes; but, it will give you profitable returns in the future. So, it may not be satisfying or motivating enough to save.

However, when you visualize your savings goals, it’ll be much easier to work towards saving the required amount.

When you’re able to see the outcome – like a retirement account, your dream home, you’ll enthusiastically make some present sacrifices to attain your big goal.

You are a long term planner

Long term planning motivates you the best.

For example, when you’re saving with a target that you’ll buy your dream home after 15 years, it becomes easier to save for the down payment and create your financial situation in a way to manage the mortgage loan with ease.

However, you don’t know whether or not your life may change significantly, and you’d have to make changes accordingly.

It is good to make a long term plan, but it’s better not to plan for too long or to have cushion so that you can make adjustments, if required.

One trick is to break down your long term goals into short achievable goals, say quarterly or monthly, so that you can revisit your plan and make changes (if necessary) to stay motivated to attain results.

You want to start quickly

Some people waste time pondering over the goals and delaying working towards it. You don’t belong to this group. Rather, you like to set goals quickly and achieve them as fast as you can. If you can’t achieve one, you lose focus.

However, it is better to go through the pros and cons and set goals which you’ll be able to achieve.

What you can do is set periodic check-in dates, when you’ll analyze your progress, within your capacity; that is, what is possible for you to achieve within a period.

You can also take help of a friend or a financial adviser to check whether or not you’re working towards meeting your goal.

You cannot resist spending money

In short, spending on things you want makes you happy. Instead of spending on what you have, you want to spend on what you want and save whatever remains.

Make saving and attaining a financial goal your top priority. Transfer an amount every month from your paycheck to your savings account, before you do anything else. Then, budget accordingly.

This way, you can meet your goals without even thinking about it. Moreover, your saved amount will be in a different account, so you won’t be tempted to spend it. Now, splurge on items with the remaining amount; you won’t have to worry about savings.

You are fiercely competitive

This personality and money saving strategy goes very much hand in hand.

It is easier for you to achieve anything if you take it as a challenge and do whatever you have to do to be the winner. You want to take everything as a personal challenge.

For example, you set a quarterly target and you have to set a bigger target in the next quarter.

Doing so, you may focus on reducing expenses but might not pay importance to saving money. In a way, you may reduce your expenses in some items but may end up spending more on others.

To avoid it and to do as per your personality, make it a competition amongst your family members to save more – the person who saves more, wins the competition, and gets a prize.

You want to avoid thinking about saving

You think that you won’t be able to meet your long term goals; so, it’s better to avoid thinking about it and leave it to your luck in the future.

If you belong to this group, start achieving small financial goals at first. It will motivate you to plan and attain the long term goals.

For example, you decide to put a certain amount every month towards saving for the down payment of buying a home and you experience financial crisis for a few months. As a result, you cancel the idea of saving money to buy a home until you’re able to earn more.

Instead, believe in “something is better than nothing”. If you’re able to save $50 a month, save that amount; next month, try to save, say $200, as per your target.

This way, you’ll be happy and motivated to stay on the track.

You want to save automatically without much effort

Savings should be a thing for you which you don’t need to worry about. So, you need to select an approach by which you can save money without actively doing it.

One of the best ways to do so is to send a portion of your paycheck directly into your savings account, or dividing it into multiple accounts.

Also, opt for automatic bill payments to stay away from debt or to repay debt as fast as possible.

Following these strategies, you’ll be able to live with a smaller paycheck and also save without much effort.

You cannot decide on your financial goal

If you have this personality, then the first money saving strategy is to set a goal.

You need to set a goal which is neither too achievable, nor very difficult; otherwise, you’ll waste time on setting goals again and again, instead of working towards achieving them.

You are the best judge. So, while setting a goal, ask yourself how far it’s possible for you to achieve?

While analyzing the results, consider other factors, such as, any financial emergency, other goals, which may hinder your progress. If required, take help from others to set an achievable goal. You can also use money-saving tools to progress better.

So, are you satisfied with the money saving strategy based on your personality?

My suggestion would be to give it a try and, if it doesn’t happen in your favor, choose a strategy as per your liking.

Whatever strategy you choose, your goal is to build a financially secure future.

About the Author:
Good Nelly is a financial writer and a blogger as well. She has been associated with DebtConsolidationCare for a long time. She writes regularly on her personal blog MyWayofViewing on a variety of topics and she also contributes her valuable posts to different financial communities, blogs and websites too. Apart from writing she loves to travel and gather ideas on food and nutrition and taking new challenges in Life like trekking & many other. You can also check out her social media profiles on Facebook and Twitter for more information.

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