What type of saver are you?

Do you track every euro in a spreadsheet, or tend to spend first and save later? In this guide, we’ll look at the five different savings personalities and how you can adapt your savings approach to suit your own style.

The information provided here is for informational and educational purposes only and does not constitute financial advice. Please consult with a licensed financial adviser or professional before making any financial decisions. Your financial situation is unique, and the information provided may not be suitable for your specific circumstances. We are not liable for any financial decisions or actions you take based on this information.

Everyone approaches money a little differently, so understanding what type of saver you are can make a significant difference in how – and how well – you save. From the cautious planner to the spontaneous spender, each style has its own traits, strengths, and pitfalls. Knowing what category you fall into can help you make smarter choices about saving, budgeting, and planning for the future.

Before we explore the five money personalities, let’s find out what type of saver you are. Take a quick saver or spender quiz by clicking on the answer below that best describes you.

When you get paid, what’s the first thing you usually do?

A. Move money straight into savings

B. Treat yourself, maybe to a nice dinner or a weekend away

C. Transfer a set amount into a specific savings pot (or pots)

D. Think “I’ll save this later in the month”, but then never get around to it

E. Split it: some into savings, some for treats

The cautious planner likes to stay organised with a clear plan and full visibility over their finances. They like to know exactly where their money’s going – often with the help of a spreadsheet – and they’re happy to go without small treats if it means keeping their savings on track. Cautious planners might feel most secure when they have around three months’ salary saved in their emergency fund.

Strengths: Always prepared for unexpected expenses, sticks to a plan, and avoids debt.

Pitfalls: May be overly cautious and miss out on spontaneous experiences. 

Savings approach: People with this style may divide their savings into different funds, such as an emergency fund in an easily accessible demand deposit account and a fun fund for occasional treats.

The spontaneous spender enjoys life as it comes and isn’t fazed by a last-minute night out or weekend getaway. People with this money personality might struggle to stick to a savings plan and end up dipping into their savings by the end of the month. They might feel that they’d rather live in the moment than think too much about the long-term future.

Strengths: Adaptable, makes the most of life’s experiences, not overly stressed by money.

Pitfalls: Not sure how to save consistently, risk of debt and lack of long-term financial security. 

Savings approach: People with this style might build savings through small, regular habits. Some track milestones with apps, while others use bank features that round up purchases. Over time, these little actions can add up without much conscious effort. 

Goal-oriented savers may be motivated by milestones, like buying a first home or saving for a family holiday. This type of saver might be highly focused and disciplined. They may even have several individual savings pots for each financial goal. The goal-oriented saver might get a buzz from seeing their progress each month, making it easier to keep on track and stay disciplined when spending.

Strengths: Motivated by goals, likes to make measurable progress, sticks to plans.

Pitfalls: May feel disappointed if goals aren’t met.

Savings approach: People with this savings personality often tackle big goals by breaking them into smaller milestones. Celebrating each milestone can make the process feel more manageable.

Reluctant savers know they should save but somehow end up putting it off. This type of saver might struggle with budgeting or feel overwhelmed by financial choices, such as deciding which savings account to use or whether to save or invest. They may have good intentions to save each month, but life (and bills) often get in the way.

Strengths: May benefit from starting small and can be adaptable if starting early.

Pitfalls: Struggles to start saving and may feel overwhelmed by budgeting or planning. 

Savings approach: Reluctant savers might begin with making small, regular contributions — sometimes as little as €5–€10 at a time — to ease into saving. Gradually increasing these amounts can help build consistency without creating a noticeable impact on day-to-day spending.

Balanced savers have found the sweet spot between enjoying life now and planning for the future. This type of saver is comfortable spending on treats and experiences, while also regularly contributing to savings. They might be a firm follower of the 50/30/20 rule, which means they put money away in a savings account as soon as they get paid. 

Traits: Maintains a healthy balance between spending and saving. Resilient and financially secure.

Pitfalls: May be risk-averse and miss chances to grow savings faster or take calculated risks, such as investing. 

Savings approach: Balanced savers often monitor their savings over time and adjust as their priorities change. They may make small changes, such as contributing a little extra to savings or exploring different account types, to keep their financial plan aligned with their long-term goals.

Now that you’ve identified what type of saver you are, let’s look at the different types of savings accounts.

The difference between a spender and a saver often comes down to mindset. Savers tend to think ahead: they prefer having a financial safety net for the future, and they get satisfaction from watching their balance grow. They’re often more cautious with money and take time to plan before making a purchase.

Spenders tend to live more in the moment. They view money as a means to enjoy life, whether that’s going to a new restaurant or booking a last-minute holiday. They may prioritise experiences and convenience over long-term goals.

Spenders and savers often have different priorities when it comes to managing money. With Raisin, you can combine both approaches, mixing demand deposits for short-term goals and term deposits for long-term savings, all while benefiting from competitive interest rates from banks across Europe. Plus, deposits of up to €100,000 per person and per bank are legally protected by the national deposit guarantee scheme of the country where the bank is headquartered.

Register for your free Raisin Account to explore savings options that fit your goals.