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5 Types of Spenders (Which Type Are You??)

Supposedly, 62% of Americans are savers (according to Gallup Polls), but I don’t buy that. Not when I see what goes on at the local Target and Best Buy, not to mention the conversations I hear at work. People are spending money – in record numbers in fact. They’re just doing it differently these days.

5 Types of Spenders

From my vantage point, there are 5 types of spenders in this world. Almost all of them think they’re savers because they occasionally find a deal on their retail purchase. Let me clue you in on something…this doesn’t make you a saver.

The video below details the five types of spenders. Personally, I often land in the camp of Spender #4 and #5. I want to know what type of spender you are! Let me know in the comments below!

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My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. It really depends on the item, cost, availability etc. We have an agreement that if its over 100 we wont buy it until we’ve discussed it and are certain. If the price tag is several thousand then its a definite sleep on it, shop around and compare pricing etc.
    Secondly, and probably more important to us, is, will this put us in debt? If so, how long will it take to pay off. Other than the house, our general rule is, it is either paid off in 1 month or 1 year. Usually we have money saved up and can pay cash so as not to make any debt.
    Its like the truck I bought. I shopped around for several months until one popped up that was in our price range. We had already discussed how much I was willing to spend and we went and bought it. Now 18 months later, it still runs, is paid for and has literally paid for itself since I used it for work and got paid for it. (as a side note, I follow the 10% rule with autos – Do NOT spend more than 10% of your gross salary ie, 100000 gross income = 10000 auto, 50000 income = 5000 auto etc)
    So as to which category I don’t know. We fall somewhere in 2, 3 and 4.

    • Makes sense. Never a #5 spender though?

  2. I’m definitely #4. I love to shop at thrift stores 🙂

    • It is pretty fun! Especially when you find something that you’ve been keeping your eyes out for!

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