4. The Frugalist

Financial Philosophy: “Saving money brings me joy.”

Money hoarders, who consider themselves to be frugal, rather than tightwads, relish in the act of saving money. If you too fall in this category of savers, then motivations for saving money like others is not aimed for enjoying material goods or better prices, it is more to do with your inner satisfaction and joy.

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 “While much attention is focused on consumption, saving can also deliver joy and satisfaction: The feeling that financial security is not a destination, but a lifetime journey with a positive trajectory,” shares Karen Carlson, Director of Education at InCharge Debt Solutions. ”Happy savers are typically independent and unconcerned with social pressures to drive a flashier car or have the latest gadgets.”

If you are accomplishing your financial goals with these extreme savings methods, a savings addiction can be extremely rewarding, and in case you realize that it is not favoring you, then may be its time to change them.

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