Are You a Spender or a Saver?

Are you a spender or a saver? The answer to this question is likely to influence if you follow a budget or not! Savers are more likely to follow a budget because they tend to be more disciplined than spenders in the area of money.

Now before you get too upset at me, and think I am being unfair, let me say there is nothing wrong with being either type of financial person! But you must know which one you tend towards so that you can know your financial strengths and weaknesses when it comes to budgeting.

Not sure which you are? Take this fun quiz and find out! Are You A Spender or a Saver?

Now that you know which you are, let’s talk about some of the common pitfalls I’ve seen over the yearsfor the spender and saver when it comes to budgeting and then we’ll discuss a few tips on how you can overcome these things to make a budget work for you. Whether in business or personal, these tips will help you if you desire to follow a budget.

The Spender


Strengths: Can easily allocate for miscellaneous items like fun money, shopping, entertainment, and other variable items and be more realistic in these budget categories.


Weaknesses: Can find it difficult to stick to their budget, ESPECIALLY miscellaneous categories because they like to spend on a whim!


TIP: If you are a spender by nature, allow yourself to budget “whim money” so that your spending habits are matching more closely to your budget. If your budget is tight, allocate a special treat each budget period that rewards you when you’ve stuck to your budget!

The Saver

Strengths: Can more easily stick to a tight budget. Is more disciplined for the long run goals and less motivated by the quicker gratification of spending.


Weaknesses: Can find it difficult to set realistic goals in miscellaneous areas of spending, and as such, can strap themselves down too much and experience budget burn-out (lacking motivation to stick to the budget because they went too hard core for too long!) before they reach their goals.

TIP: If you are a saver, be sure to include something rewarding in your saving category too. Allowing yourself to enjoy the money you are saving a little as you go will keep you more motivated to reach your financial goals.

Whether in your personal life, or your business, keeping a budget is an important piece to financial planning and wellness.


If you enjoyed these tips or have some of your own, share below! We’d love to hear from you. If your business is in need of accounting help, give Abacus a ring today! We’re here to help.


Kerry Postel – Founder CEO Principal

Abacus Business Solutions

Has Higher National Diploma in Business and Finance, Certified in QuickBooks, Member of American Institute of Bookkeepers, and over 20 years of bookkeeping experience including construction, travel, restaurants, events management, and other various professional services.

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