What kind of saver are you?
Have you ever really thought about what kind of saver you are?
Well, if you’d like to find out, look no further! Our nifty saver quiz may help you figure out how you like to save, as well as looking at some saving accounts that might be suitable for you.
Just answer all the questions and make a note of your answers to calculate what kind of saver you are!
1. It snowed last night, and your hot water isn’t working – how are you affording to fix it?
- a. I’ll dip into the savings and call the emergency plumber.
- b. Of course, this happens just after we spent the savings on the holiday.
- c. That’s annoying, I’ll have to miss the Boxing Day sales this year.
- d. Could anything else go wrong? I guess that’ll have to go on the credit card.
2. It’s pay day, how’s your budget looking?
- a. My direct debits for bills and standing order for savings are all set up.
- b. I’m topping up the savings for the new car a bit more this month.
- c. That means drinks after work tonight then!
- d. Most of it will go straight towards bills and my credit card.
3. You just won the office sweepstake, and the prize was £500, what are you spending it on?
- a. Nothing to spend it on, so I’ll put it into savings to gain more interest.
- b. Amazing, that tops up the savings enough to buy the new sofa!
- c. That designer bag I saw on sale last week.
- d. Phew, I can pay off a bit more of my loan.
4. It’s halfway through the month – how’s your bank balance looking?
- a. I’m on budget like always – I’ve even added extra to my savings.
- b. I’ve put extra into my savings for Christmas so it’s a bit lower than usual.
- c. Oops – I’ve overspent (again). I’ll have to cut back until pay day.
- d. In my overdraft again – I’ll never be able to stay out of it.
5. Your favorite shop is having a big sale, how do you react?
- a. I don’t really need anything new, so I’ll leave it.
- b. If only, but we’re saving for the new washing machine right now.
- c. I can’t miss out on a big sale! I’ll manage somehow.
- d. I shouldn’t, but I do need some new clothes – I’ll put it on the credit card.
6. You are unexpectedly available for the family trip next month. What are you doing?
- a. I was so sad I couldn’t go so I’ll pay with my savings.
- b. The new laptop will have to wait – I’ll use my savings.
- c. You only live once, I’ll cut back on spending until then.
- d. I wish I could, but I simply can’t afford it right now.
7. Payday’s approaching – how are you feeling?
- a. Pretty stable, nothing really changes on my budget.
- b. It’s a bit lower than usual, but I’d put extra into savings for the new kitchen.
- c. Finally! I’m down to my last few pennies.
- d. Thank goodness, I’m hoping to get out of my overdraft next month.
8. The car has failed its MOT, how are you paying for the repairs?
- a. My savings are there for this reason, I’ll use them.
- b. I knew this would happen, so I’ve been putting some money aside for a few months.
- c. The reunion meal will have to wait. I’ll use the money I was putting aside for that.
- d. I’ve got to get it fixed, so I’ll have to go into my overdraft to pay for it.
9. It’s nearing pay day and you’re under budget, what are you doing with the extra cash?
- a. There’s nothing I need so I’ll put it into my savings.
- b. I’ll top up the savings so we can have some more spending money on the holiday.
- c. Shopping spree, here I come!
- d. That’s unusual for me, I’ll make an extra payment to the credit card bill.
10. Thinking about the future, how do you feel about your savings?
- a. I’m just happy to continue what I’m doing; I don’t have many surprises.
- b. I always have enough for my big purchases but not for surprises.
- c. I have enough to cover my monthly spending, but I don’t have any savings.
- d. I can’t really think about savings when I have credit cards and loans to pay.
Total up your answers and make a note then look below to see what type of saver you are.
Mostly (A) = The Natural Saver
You’re the kind of saver that doesn’t really need to think about it, you just naturally save every month. You most likely have a healthy savings balance and would never feel the need to take out a loan or pay for things on a credit card.
The Natural Savers are more likely to consider moving some of their savings into long-term, fixed rate savings accounts to take advantage of the higher interest rates. They are clearly good at saving, so may still be able to have some left over for a rainy day in an Easy Access account.
Mostly (B) = The Goal Saver
You’re great at saving when you have a reason to. You like to save in larger chunks for something like a holiday or a new car, but if you aren’t saving for something specific, you normally don’t save.
The Goal Savers may look at different options to suit their savings goal, like a Notice account or an Easy Access account.
Mostly (C) = The Impulse Spender
You like spending your money when you get it and aren’t too worried about saving. You’ve been able to manage your spending and budgeting enough that you haven’t needed to take out a loan or a credit card, but you generally don’t have much money left over to save.
The Impulse Spender is likely to have an Easy Access account. They might not be ready to commit to a fixed rate but want to have an option of putting money away if they have some left over.
Mostly (D) – The Borrower
You live pay slip to pay slip and are struggling to get your debt down. You may be into your overdraft or are borrowing from loans or credit cards. But plan to look at your monthly budget and think about where you can cut your spending.
The Borrowers are likely to have an Easy Access account, so their money is available when they need it. Or have no savings account.
Now you know what kind of saver you are, why not check out our latest savings accounts and learn all about how we can help you save your money in the way that suits you? Find out more by visiting our website.
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