Money management philosophies are not something that is with us inherently from birth. Our feelings around money are often shaped at a young age when we start to have an understanding of the value of money and our perception of whether it is plentiful or scarce. Money and financial planning are logical topics that are known to have often very deep and emotional roots that can significantly impact relationships, even all those years later.
A saver is, in short, a person who thinks ahead to the future. While they can live and enjoy the moment, when it comes to money, they’re always thinking about how they can stretch it to last as long as possible. An excellent way to describe them is that they’re always looking towards the horizon.
On the opposite end of the spectrum, we have spenders. Unlike savers, they are more concerned about living in the moment, not necessarily planning for the future. While most spenders are not out of control with their habits, they value what’s happening now over what’s going to happen tomorrow.