Are you a Spender, Saver, or Investor?

people walking in plaza
January 2, 2020

There are a variety of different financial mindsets out there. There are spenders, savers, and investors. Which are you?

I feel that there are 3 types of people in this life. There are people who like to spend money, people who save money, and people who invest money. Which category do you fall  under? 

Perhaps more interesting though, what causes someone to be in which category? When asking this question, it is important to note that just because someone has things, that alone does not make them wealthy. The most important aspect of this question is someone's mindset. Do they view money as a means to buy whatever they want, or buy things to improve quality of life? 

The wealthy (investors in this case) have money to buy quality items. The poorer classes see these items and want them, even if they cannot afford them. The poor are kept poor by their long-term perspective and the "I want it now attitude". 

When a wealthy person receives a decent chunk of change, they will first think of saving or investing. What about a person without a long-term mindset? Perhaps they will save the cash, but they are more likely to spend it on entertainment or something of the like.

Since money comes and goes so quickly, they are not accustomed to having money for long periods of time. Thus, they are caught in a cycle of spending money soon after receiving it and living paycheck to paycheck. 

If you are living paycheck to paycheck you aren't alone. According to CBS News, 78% of Americans are living paycheck to paycheck! You don't have to be one of them. However, do you have to have money to make money? No. Especially not in America. Not in the world's biggest and healthiest economy. 

It is easier to make money when you have money, but with hard work and a budget, you can save up enough to get your finances rolling. You just need the proper mindset and motivation. 

So, I ask again, which type of person are you?