What Kind of Saver Are You?

by J. Money - Published September 21, 2016

piggy bank with hearts

It’s quiz time!

What type of saver are you?

The Magician, The Salt + Pepper, The Rock Star, or The Goalie?

Find out below, courtesy of an email I got from South State Bank – a bank I’ve never heard of until today (based in NC, SC and GA) but whom I now like for helping keep this stuff fun :) It doesn’t take much! Haha…

Here we go:

#1. The Magician

The moment money falls into the Magician’s hands it seems to disappear. These people are more focused on the here and now than planning for what’s down the road. (AKA old J$).

They recommend savers who fall into this category use an app like Mint or Slice to track spending as you might learn you’re sending money to places that aren’t actually that high on your priority list. This in turn helps you make better decisions going forward, and hopefully gets you more excited about saving better as well.

I hadn’t heard of Slice before, but apparently it’s an app to help track your shopping better that also gets you money back when items you’ve ordered drop over time. Kinda like Paribus which we’ve covered (and love!) here on the site. If anyone’s using them, would love to hear how it’s going?

#2. The Salt + Pepper

Salt + Peppers pay attention to their finances, but lost quarters in the couch doesn’t cause them to lose sleep. They add a dash of money into their savings when they can, but there is room for improvement.

South State recommends small, but clear goals so you can quickly see how savings pays off. Pick a purchase you’ve been lusting after like a new TV, and decide how much you’ll put towards that purchase weekly for the next few months. Building up savings and rewarding yourself will get you excited to do it more and on a bigger scale.

I agree on the excitement levels (almost everything I do with money is based on my emotions!), but I do hope you’re saving for something sexier than TVs :) They also shot over the following “golden rule of spending” breakdown too which is always interesting to see:

  • 50% should go towards essential expenses (housing, food, transportation)
  • 20% should go to towards financial priorities (savings, debt, retirement)
  • 30% should go towards “lifestyle choices” (travel, entertainment, hobbies)

It would be even better if some of the percentages were swapped a bit, but hey – not all of us can budget like Angelina Jolie. It’s a great foundation to strive for, especially when you’re first starting out.

#3. The Rock Star

The Rock Star never spends without a good reason. They are in total control of their finances and manages their money to the last cent. But while managing your budget is a great first step, South State recommends talking to your banker or another financial advisor you trust about stepping up your game even more. And by “banker”, they probably mean personal finance blogs :)

#4. The Goalie

For the Goalie, it’s all about the end game. Having a specific goal is what inspires them to boost their savings plan, and whatever the goalie is saving for, it’s keeping them focused – which is great! So long as you’re looking long-term too. Saving for a car or house are worthy, big goals, but make sure you’re thinking ahead and planning for retirement as well.

So which describes you the most?

Are you a Magician, Salt + Pepper, Rock Star, or Goalie?

saver types

Personally, I flip flop between Salt + Pepper and Goalie. I don’t like tracking my expenses down to the last penny (I’m okay with 80% good!), but at the same time I also don’t spend willy nilly and do my best to be mindful of where I send my money. I also work much better when big goals are implemented, else I just end up saving a little here and there and going wherever the flow takes me… which is usually not anywhere near financial independence :)

This is why I have my one main goal I need to hit every single year no matter what! Without it, I float on into the abyss and never reach anything. So it’s important to know what pushes YOU too, and then setting up the appropriate check points to keep your goals on track.

And don’t worry if it changes over the years either – the more adaptable you can be, the more sane you’ll stay! Our priorities/thoughts are constantly changing and that’s okay. In fact, it’s better!

So there you have it… 4 new ways to categorize yourself today :)

Tell us below which you resemble the most, and then if you’d like even more ways to put off work today, here are some other quizzes you can take as well (you’re welcome):

See you in the comments!

******
PS: Anyone ever used South State Bank before? This isn’t a sponsored post or anything, they just seem like a creative place and wondering if anyone banks with them :)

Jay loves talking about money, experimenting, blasting hip-hop, and hanging out with his two beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!

{ 54 comments… read them below or add one }

1 The Green Swan September 21, 2016 at 5:29 am

I haven’t heard of South State Bank either and I live on NC, I’ll start looking for them though, I’ve just never paid attention.

Regarding the post though, I’d probably say I’m a rockstar or goalie. I have pretty good control over spending and an very deliberate and I also track and monitor expenses closely (down to the penny!). All effort is focused on my goal to retire early!

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2 J. Money September 21, 2016 at 6:25 pm

Take a selfie inside of one once you find one :)

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3 Brian @ Debt Discipline September 21, 2016 at 5:56 am

My old self was definitely the magician. Today like you I bounce between Salt + Pepper and Goalie. Tools like digit are helping us be more consistent with our savings.

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4 Jon @ Be Net Worthy September 21, 2016 at 5:59 am

I would say that 80% of the time, I’m a goalie. Focused no hitting my savings rate goal each year and then ultimately my FI goal. I would think that most PF bloggers would fall in this category, I’ll be watching to see!

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5 Prudence Debtfree September 21, 2016 at 6:23 am

I always wondered why I’m better at paying off debt than I am at saving. I’m a goalie when it comes to debt-repayment – totally focused on the goal of debt-freedom – but I’m salt & pepper when it comes to savings. The advice to have “small, clear” savings goal is a good one. We were able to save and pay outright for a new roof a couple of years ago (not a “small” goal, but definitely clear), and that really did feel great. We now have a full e-fund too. Long-term investing is happening, and as our vision of financial freedom becomes sharper, it’s becoming a “clear” goal too. Just like paying off small debts first gives a psychological preparation for the bigger debts, achieving smaller savings goals seems to do the same thing. OK, now I’m a goalie for savings too : )

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6 J. Money September 21, 2016 at 6:26 pm

Indeed! And a lot of people have that problem too! Much easier to pay off debt than save – I agree. (And good work on all your hustling!!)

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7 Dividends Down Under September 21, 2016 at 6:37 am

Most of the time we’re probably rockstars and the rest we’re goalies. I think it’s good to have a bit of both.

I have never heard of South State Bank either :)

Tristan

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8 Vicki@Make Smarter Decisions September 21, 2016 at 6:49 am

Wow – I’m a Rockstar. Thanks for helping my self-esteem at this early morning hour ;)

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9 J. Money September 21, 2016 at 6:26 pm

That’ll be $5.00 please :)

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10 Free to Pursue September 21, 2016 at 7:07 am

Hmmm…what ’bout when moolah doesn’t guide everyday decisions? Would that be the lifestyle deflator / quality of life optimizer category? Not very sexy sounding though…

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11 J. Money September 21, 2016 at 6:27 pm

It’s the “I hit financial freedom, bitch!” stage :)

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12 Free to Pursue September 22, 2016 at 1:10 am

Ha! Now THAT’s sexy. I knew I could count on the master. :)

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13 Matt @ Distilled Dollar September 21, 2016 at 7:35 am

I’m about a 50/50 mix between Goalie and Rock Star. While I love to think long term, I limit that level of thinking so I can focus more on being grateful for the moment. My fiancee and I are heading in the right direction, and that’s all we need to know to make us happy about our finances.

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14 J. Money September 21, 2016 at 6:28 pm

Absolutely love that line of thinking… you’re always so smart over there :)

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15 Apathy Ends September 21, 2016 at 7:36 am

Mix between Salt and Pepper – Goalie, I don’t manage my money down to the last cent and am all about the end game.

Banks would draw more attention if they were more creative, FinTech companies kill in the marketing department

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16 J. Money September 21, 2016 at 6:29 pm

Yeah they do. Cuz it’s all harnessed online!

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17 Aaron @IncomeHoncho September 21, 2016 at 7:36 am

I’d have to say mostly Magician here because me and the wife are a bit of the opposite when it comes to saving. Using Mint has really help ever since i signed up though

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18 Miss Mazuma September 21, 2016 at 7:51 am

A bank with a sense of humor?! Love it!

I am definitely a Rockstar Goalie. My main goal is FI so my strategy to save is for that long term goal…unless a nice property comes along that I have to buy! I need an AA group for Real Estate. She’s burned me before but like a moth to a flame I keep flapping my wings closer to the fire…

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19 J. Money September 21, 2016 at 6:29 pm

Haha…. there could be worse things to be addicted to :)

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20 Penny @ She Picks Up Pennies September 21, 2016 at 8:09 am

I want to say Rockstar, but probably Goalie would be a better fit. I’m a bad Goalie in the sense that I need to define more goals more clearly. Retirement is too broad, but that (and killing my mortgage!) are about all it takes to keep me motivated.

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21 Paul September 21, 2016 at 9:08 am

I’m a goalie but honestly I wonder if I’m making my life worse. I get so focused on achieving that it becomes all consuming. I have been forcing myself to stop thinking about progress and start thinking about what is going on in the present. because good or bad all we can rely on is today and I don’t want to miss these moments being so consumed with the future. I firmly believe that living each moment is the purpose of life and I don’t want to miss any of it. I’m not saying be irresponsible and blow it all, I’m saying mindset matters most, still plan for the future but set it and forget it, don’t live for that day, live for now because if you are lucky enough to see retirement you wont want it to be at the expense of your life and attention now.

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22 J. Money September 21, 2016 at 6:31 pm

TELL ME HOW TO DO IT EVERY DAY PLEASE AND I’LL SIGN UP!!!! So hard to remember!

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23 Paul September 22, 2016 at 8:40 am

its tough for me too. I’m probably no better at it than anyone else, When I feel that anxiety is taking over I just try to breath and remind myself that this moment is all we are promised. It helps you appreciate here and now. Even if that is a screaming baby or a kid crying, it somehow seems less frustrating when you view it as just part of life and no less valuable than sitting on a beach enjoying the day.

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24 Mr Crazy Kicks September 21, 2016 at 9:09 am

Ah, buying a new TV, one of the great financial goals in life :) Maybe magician because of all the automatic investments – et voilà, the money is no longer in the checking account!

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25 Ty @ Get Rich Quickish September 21, 2016 at 9:19 am

I’m a reluctant goalie. Eyes on the prize, but trying to enjoy the journey more without losing sleep if/when I’m not going full throttle.

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26 PhysicianOnFIRE September 21, 2016 at 9:31 am

Rock Star. Minus the roadies and groupies. I play Goalie on an intramural team.

Cheers!
-PoF

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27 J. Money September 21, 2016 at 6:34 pm

Hah! Clever man, you.

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28 Hannah September 21, 2016 at 9:40 am

Definitely not a rock star! I’m much more of a goalie… For me it keeps life more manageable to think about the next few years instead of the next 50! However, keeping the end in mind does matter

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29 Ms. Montana September 21, 2016 at 10:06 am

Mr. Mt was pure Magician when I met him, now maybe 50% mixed with Salt and Pepper. I’ve been a Rockstar-Goalie my entire life. We help each other out. I’m working on a post how his new beautiful classic car in the end was the savings from not having cable. Now he almost threw a fit when we were first married and I said no to cable. But now he looks very very happy in that car. Team work baby!

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30 J. Money September 21, 2016 at 6:35 pm

That definitely shuts people up! Haha…

Well played over there, well played.

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31 Mike B. September 21, 2016 at 10:08 am

I resonate with the salt + pepper persona. Maybe if i didn’t budget fun stuff into my savings, then I’d be more of a rockstar or goalie. Everything in moderation, including savings. That’s me, but better than being the magician!

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32 J. Money September 21, 2016 at 6:38 pm

(yeah, ain’t no one wants to be the magician!)

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33 Full Time Finance September 21, 2016 at 10:21 am

I’m split between salt + pepper and a goalie. I agree with Matt B, everything in moderation. While I want to be set in retirement and have financial independence I want to live and enjoy myself now too. You never know when your last day might be. Is the 25 cents I lost in the couch worth the 20 minutes I’d have to search for it? Probably not. Is retiring at some point with my current lifestyle worth not eating out every day.. Probably.

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34 Amanda @centsiblyrich September 21, 2016 at 10:24 am

I’m a Rockstar-Goalie, sometimes to a fault, I think. Maybe I need a little sprinkle of salt + pepper now and then!

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35 Fiscally Free September 21, 2016 at 10:33 am

I would probably fall into the Rock Star category. I usually don’t have a specific goal in mind other than the abstract concept of retirement, but I sure hate spending.

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36 Lisa September 21, 2016 at 10:46 am

I’m a goalie with a dash of salt + pepper. Saving for a cruise right now but any extra $ I come across is going into my nest egg.

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37 Financial Canadian September 21, 2016 at 10:51 am

Proud to declare myself a goalie with a bit of magician in there too. I know that sounds funny since they are at the opposite ends of the spectrum, but it’s the most accurate. I save aggressively most of the time, but sometimes splurge on unnecessary expenses like a magician.

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38 J. Money September 21, 2016 at 6:39 pm

That’s kinda a neat mixture!

And def. better than just being the magician :)

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39 Financial Panther September 21, 2016 at 11:11 am

Definitely the goalie. I typically save into buckets. If I want to buy something, I like to budget it out months in advance. Small bits of savings here and there and suddenly, I have a pile of cash waiting for me!

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40 Millennial Moola September 21, 2016 at 12:23 pm

Probably more of a rockstar than anything out of the four. What about someone who is OCD about saving and has a mental disorder where spending feels like a bad thing to do in almost every circumstance? What’s the word for that lol

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41 J. Money September 21, 2016 at 6:41 pm

“Scary!” :)

But as someone who actually does have OCD (nothing too extreme, though it does flair up under pressure), I wouldn’t be surprised if that was “a thing.” Or at least touching money since we all know how disgusting it is :)

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42 Mrs Groovy September 21, 2016 at 12:40 pm

We’re in NC too and never heard of South State Bank. We’re definitely goalies. Maybe there’s a subconscious connection to Mr. G’s ice-hockey playing days, but we function best with a specific end-game in mind. We had a 3-year countdown to save to get out of NY and now a 2-year countdown to quit our jobs.

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43 J. Money September 21, 2016 at 6:41 pm

HAH! Awesome!

You’re so much better at that than me… the most I can plan ahead is 3 *weeks* :)

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44 Nathan September 21, 2016 at 2:04 pm

I’m a reforming magician working to become a goalie. I’ve done OK saving for retirement, but we’re at the point now of saving to build a house, and retirement has become relevant – instead of something that will happen “someday”.

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45 J. Money September 21, 2016 at 6:42 pm

Congrats on the turn around!

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46 DIY$ September 21, 2016 at 4:13 pm

I’m with you J$ — part salt+pepper and part goalie.

When we were paying off debt and had a lot of big short-term financial goals (i.e. huge tuition checks being written twice a year), I was 100% goalie. Now that we’re debt free besides the house and still have money left over after paying a double mortgage payment, my salt+pepper shows a little bit.

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47 Tonya September 21, 2016 at 7:36 pm

I used to be the Rock Star but now I’m the Goalie. Unfortunately, my husband is more magician and expects me to work the magic of being able to save while he spends. I think he thinks I have secret money or make more money than I actually do (I’m not sure why he would think this. He knows I am a public school teacher).

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48 J. Money September 22, 2016 at 6:58 am

Haha… silly husbands.

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49 Centsai September 23, 2016 at 12:35 pm

I definitely used to be a magician when I was younger, because as soon as I got paid **poof** all my money would disappear for clothing or food or trips! Now I would fall under salt and pepper category. Hopefully as I get better at saving and budgeting, I will begin to lean towards the rock star or goalie category!

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50 J. Money September 26, 2016 at 4:17 pm

Love it ;)

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51 ZJ Thorne September 24, 2016 at 11:47 am

I’m absolutely a goalie. Big goals and wins motivate me. I don’t want to ruin my life by over-focusing on minor choices. I want to enjoy the money I have and use it for the good I want.

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52 Jayson @ Monster Piggy Bank September 24, 2016 at 8:52 pm

I am going for the rock star! This type of saver is whom I have to be.

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53 Robson G. Barros October 7, 2016 at 3:40 pm

I am a rock star, but always I pay myself first. never spent money with useless things and I have a spreadsheet with all my incomming and expenses.

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54 David Chen October 18, 2016 at 3:01 pm

Great Post! I would have to say I would fall under Rockstar. I like to keep track of all my money to ensure I stay on track with paying off my student loan debt. Once I pay it off I can see myself falling back to Salt + Pepper to enjoy some free spending.

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