Love to save or spend?

by Leeds Building Society

love to save or spend

What type of saver or spender are you? Pop the kettle on, sit back and take 5 minutes to find out.

1. What does ISA stand for?

a)    Interest Should Accrue

b)    Isn't (S)he Amazing!

c)    I Spend A-lot

d)    Individual Savings Account

2. You get £20 in a card from a family member – what do you do with it?

a)    Put it straight in my savings account

b)    Spend it on date night

c)    Buy lottery tickets – you have to be in it to win it

d)    Pay my next bill

3. Credit…

a)    Never had it, never will

b)    It’s good if I need to spoil someone

c)    Great for treating myself to a bit of luxury

d)    Had it but always paid it back and on time

4. It’s your significant other’s birthday, what do you buy them?

a)    Nothing, I’ll put some money in their savings account

b)    Anything and everything they want, only the best will do

c)    That box set I’ve been dying to watch, but maybe they’ll like it too

d)    Whatever I can find in the sale that looks expensive

5. Your monthly treat is…

a)    Seeing my savings account grow

b)    Going out for a meal with others

c)    Buying myself the latest ‘must-have’ item

d)    Clearing my debts

6. In the future…

a)    I’ll kick back and enjoy the benefits of my savings in sunnier climes

b)    I’ll be happily surrounded by friends and family

c)    I’ll be doing what I want, when I want, with enough money to do it - somehow

d)    I’ll be looking to top up or draw my pension

7. How do you do your financial research?

a)    I carefully review financial publications on and offline

b)    Take recommendations from friends and family

c)    I don’t need it, I know enough already

d)    Advertising on the telly, internet and radio

8. What do you think about Valentine’s Day?

a)    Load of rubbish

b)    Love it and love treating whoever I spend it with

c)    Good if I get a present

d)    Nice but I never go mad, a card will do

9. How much will you spend this Valentine’s Day?

a)    Nothing. In fact, the money I would have spent is going in my savings account

b)    All in all,  for a meal, night away and a gift probably around £300, but so worth it

c)    Definitely going Dutch - whatever the cost of a meal is

d)    The cost of a card but a nice one, around a fiver

Did you answer mostly As?

Mostly As

You absolutely love to save and can see the long term benefits of putting money away regularly. You love to watch the balance grow and your money loves you back in interest accrued.

However, it wouldn’t harm to loosen the strings on the coin purse every once in a while and treat yourselves and others, maybe next Valentine’s Day!

Did you answer mostly Bs?

Mostly Bs

You love to spend but love to spend on others. You’re a generous type who wants to enjoy the here-and-now with close friends and family and make the most of occasions like Valentine’s.

However, saving a bit would help for some of the bigger occasions you would like to celebrate as you never know when a family member could announce a big event!

Did you answer mostly Cs?

Mostly Cs

Wow, you love to spend but love to spend on yourself and why not? You live for the here-and-now and need to be up-to-date with the latest goods and trends. Valentine’s Day is an opportunity to get more stuff from significant others.

However, getting into the habit of saving could be difficult so why not start small and put a minimal amount away to show yourself you can do it? It wouldn’t harm to spend a bit on others too so why not surprise someone next Valentine’s day with the money you saved.

Did you answer mostly Ds?

Mostly Ds

You’re careful to balance your incomings and outgoings but err on the side of a saver rather than spender. You live for today but have an eye firmly on the future to ensure you have no debt and have financial products in place to help in later life. You are keen to get the best deals, begrudge paying over the odds and love a bargain.

However, you can be too rigid in balancing your finances and need to afford yourself a few more little luxuries. Why not squirrel a minimal amount away for treats and watch it add up. Then you can treat yourself and your other half next Valentine's day?

So, you've established that you love to save or perhaps could do with keeping a closer eye on the purse strings. Whatever your saving (or spending) behaviour is, we could have a saving account thats right for you.

View our savings accounts

This information  does not constitute legal or financial advice given by Leeds Building Society. No reliance should be placed on this guide and you must make your own decisions, we recommend that you seek legal and/or financial advice if you have any questions or queries.