44% of Spaniards do not have an emergency fund with sufficient capacity to meet the usual expenses of more than three months , according to the ING International Survey of Financial Habits, which also reveals that 39% of Spaniards do not save anything, and that 46% only do so occasionally. However, despite these figures, the survey reveals that a significant 15% allocate additional amounts to their savings on a regular basis… How is this 15%?
The profiles of the “saving addict”
According to a study by George Loewenstein, a professor of economics and psychology at Carnegie Mellon University, Pittsburgh, regardless of how expensive it can be to save money, there are people who find it painful to spend it, even on the most basic and necessary necessities. .
According to the study by G. Loewenstein, there are 4 profiles of extreme savers, very well differentiated by their characteristics and motivations when it comes to saving money, although we have discovered a fifth profile… Attention!
The tightwad – Financial philosophy of Psychology: “It hurts me to spend money.”This group of savers belongs to the group of people who feel “pain” or “disgust” at the idea of spending money . The very idea of socializing, for example, makes him completely afraid of spending money, and he stops attending friends' events such as a dinner for fear of spending a single euro or what is worse: they come home for dinner! !
These people are so addicted to saving money that even buying essential items can become a problem.
To do? It is advisable to have two accounts: an exclusive account for savings, and feel comfortable with the mission accomplished, and the other destined to cover, at least, basic necessities, such as personal hygiene products, food, etc… The accounts they can be in different banks, a high return is sought in the savings account, the money is not going to be available because it is a long-term objective… You have to investigate the investment funds that, due to their taxation, can be more interesting than leaving it in a remunerated account.
Control from anywhere and at any time to feel calm is more than necessary… They need it! Now, thanks to the new Fintonic mobile application , with only two tabs, any saver will be able to have absolute control of all their finances
The Austere – Financial Philosophy: “Saving money brings me joy.”
Savers who consider themselves austere, unlike stingy people, enjoy the act of saving money , that is, their joy is not linked to material goods, but to the feeling of stability that saving as much as possible gives them. money, without the need to rely on consumer behavior.
Those belonging to this group develop an aversion to consuming and on specific dates, such as birthdays or Christmas, the members of this group rebel against consumerism, and are frustrated by having to reluctantly buy gifts…
To do? A good advice to cope with dates like Christmas, etc., is to agree with family and friends to get a “gift with sentimental value” so that materialism is in the background. Collecting the best family photos is a tedious task that everyone appreciates, so making an album can be a good idea to start
Food Hoarders – Financial Philosophy: “The more I buy, the more I can save.”
With the increase in food prices, it is true that it is advisable to resort to 2×1 offers, but be careful with large wholesale shopping areas! The product is not always cheaper, and they may also expire before the family can consume them.
This way of shopping is addictive and sometimes it is difficult to recognize these addictions. There are many symptoms, although we are only going to mention two of the most revealing:
- Excessive consumption . Without a doubt, those chocolate cereals are delicious, but being forced to eat them every other day, for breakfast, lunch and dinner before they expire just to pay off the cost of the huge package, is not a good idea.
- The storage space . Once food (especially canned food) doesn't fit in the pantry and begins to invade living space, there's a problem.
To do? In addition to everything we mentioned in the supermarket shopping article , compare the price per Kg. Normally, when it comes to non-perishable products such as detergents, pasta or rice, the price is usually good, but in the opposite case, it is We recommend the smaller formats so that everything can be taken advantage of in a healthy way. In addition, you will save money almost by inertia!
The extreme groupers – Financial philosophy: “Because I like to do more with less.”
The world of discount coupons has been a phenomenon that has revolutionized consumption in recent years, and has led to the appearance of another type of savings addict: the “extreme couponers”, who we put in the same bag as the ” addicted to discount stores” whether physical or even those on TV, Radio….
Extreme Couponers experience dilemmas similar to food hoarders, in that some justify a purchase just because the item is on sale or at some discount rate. They accumulate and accumulate things!