I’ve gone through life with the idea that people are “savers” or “spenders”. The interesting thing is that within a family, some members are savers and others are spenders. My husband and I often talk about this. How can two kids who are raised in the same household have such different views on money? As much as we would all like to think we can flip the switch and become savers, scientists have actually found that we are actually genetically predisposed to be savers or spenders.
So can we fight our genetic destiny? I would argue that to some extent we can. Obviously, if someone is predisposed to becoming an alcoholic, it doesn’t necessarily mean that he will become one. In the same way, if someone is predisposed to being a spender, it doesn’t automatically mean that she will always be broke because she make poor spending choice.
I think it’s important to understand what we are and then work to live the life we want to live. If you’re a spender, then you should recognize that about yourself. However, it doesn’t mean that you HAVE to spend every dime from your paycheck. It means that it might be a little bit harder to make yourself save and that the money you have in savings will always be a temptation, but YOU CAN SAVE MONEY!
As a personal challenge for this week, find a way to save $5 every day. At the end of the week, use that $35 to pay down a credit card or put the money in a no fee savings account.