4 types of savings addicts: which one are you?
It is estimated that 28% of Americans have not set aside any funds for emergencies at all, and less than half of Americans claim to have saved less than three months of household spending.
However, a study conducted by Professor George loverston of Carnegie Mellon University found that although people face challenges in saving money, 25% of the study participants actually found it painful to spend money, even on basic and necessary needs.
The fatigue of thrift: how to take a break from saving too much money> while it seems more like a utopian concept, the argument that some consumers may be addicted to saving money may not be as incredible as it sounds.
Loewenstein studied 13,000 people to study their brain activity patterns and responses to ideal projects (e. g.
And bad goods (e. g.
Price tag for candy)
Using functional magnetic resonance imaging technology.
It was found that if the participants liked chocolate, the reward center of the brain (
See the candy show a positive reaction-
This is the area of the brain associated with other pleasant behaviors, such as listening to music.
However, when you see the price tag of chocolate, the pain and aversion areas of the brain (the insula)
An area that responds to this situation, such as smelling an unpleasant smell.
These findings suggest that the brain\'s negative response to entering bank accounts is an inherent way to confuse consumers from seeking too much fun --
Seeking experience (i. e.
Chocolate, shopping spree, etc. ).
This adverse reaction to the idea of losing money may pave the way for different types of depositors seeking to deposit their savings accounts with additional cash.
There is no way to divide depositors into a single group.
There are all kinds of features in the money holders, and their motivation to save money is also different.
Here are four different types of ultimate savers: 1.
TightwadFinancial philosophy: \"It\'s painful to spend money.
Ebenezer skrogi\'s punch personality, which you will find when you face the tigh ghost.
According to Loewenstein\'s research, this group of stingy people feel painful or \"disgusted\" with the idea of spending money \".
It is very likely that the idea of socializing will make them feel chilling, for fear of what might be the cost behind a seemingly innocent night out with friends.
These people are so addicted to saving that even spending on basic necessities becomes a problem.
What to do: in dealing with tightwad\'s financial habits, Lowenstein recommends trying to use different bank accounts to help keep the budget and savings priorities sound.
For example, an account is strictly reserved for the emergency fund, and another account is specifically used to pay for discretionary items such as personal hygiene products, groceries, etc. 2.
\"Saving money brings me happiness . \"
\"Savers who think they are frugal rather than stingy like to save money ---
That is to say, their happiness has nothing to do with material products, and they experience free and rich lifestyles without relying on consumerism.
\"While a lot of people focus on consumption, saving can also bring happiness and satisfaction: Feeling that financial security is not a destination, but a life-long journey with a positive trajectory, karen Carlson, education director in charge of Debt Solutions, said.
\"Happy savers are often independent, and they don\'t care about the social pressures of driving a luxury car or having the latest equipment.
GOBankingRates contributor Jeff Yeager is the author of four popular books on frugal life, including his latest book, \"How to retire the path of a stingy ghost,\" pointed out by YeagerEvent--like holidays --
What families can do to have meaningful memories.
\"Talk to family and friends [you\'ve]
In past gifts, we ask, \"How do we want to deal with this year ? \"? \'\" Yeager said.
What to do: Yeager recommends reaching an agreement with friends and family, registering thoughtfully, or buying only $store gifts.
\"The best gift I \'ve ever received is an old photo I \'ve never seen before ---
Go to the dollar store and buy a $1 photo frame and put the photo in it, \"said Yeager.
\"I like to ask adults how many gifts they can remember ---
The answer is no, very little.
But if you ask what you remember-
Things and items will depreciate and experiences and memories will be appreciated.
Yeager expresses one of his \"Moolah Management\" tips in his book \"How to retire in a stingy way\": \"minimize your dependence on money, thereby reducing your need for greater cash flow.
Related: 13 gifts you should never register to save money.
\"The more I buy, the more I save.
\"With food prices rising, it\'s no wonder that some people are turning to large box retailers and the wrong assumption is that they automatically become better deals just because the products are packaged in bulk.
Thomas nitzscher of Clear Point credit consulting solutions shares how shoppers show \"basic value neglect\", a food backlog that cannot correctly estimate their savings based on the cost per item or unitBulk-
Buying a warehouse store also brings additional questions that families need to pay attention to: what to do: always read the price tag when you cross the warehouse aisle.
They usually have costs. per-
Nitzscher said the unit price was clearly displayed on the label.
This helps make easier decisions between buying bulk goods or shopping at a local grocery store.
In addition, a realistic attitude towards shopping can almost instinctively save money.
If you knew you wouldn\'t eat cheese-
Any time this week, you will taste the stuffed ravioli at dinner and pass it out ---
Chances are you won\'t miss it. 4.
\"I like to get more at a lower price.
\"Another saver who is addicted to saving money is an extreme couple.
Fellowship has become a widely known phenomenon, especially with the help of TLC Extreme fellowship programs, but with the audience having a better understanding of the coupon overlay lifestyle, obvious precautions are needed to ensure that in fact savings are still being made.
Extreme customers have experienced a similar dilemma to food producers because some people justify buying simply because the goods are discounted or after folding a few coupons.
Shoppers who are addicted to saving money by stacking coupons can save household items such as laundry detergent, but when their shipping is filled with processed foods full of empty calories and high calories, real trouble comes
Sports drinks sugar
How to do it: Saving money is an admirable achievement, but make sure you keep your family\'s health in mind.
Are these six boxes of Ritz cookies really necessary?
How about two-
A liter of Coke?
You may be saving money now, but the hundreds of dollars saved by extreme couples are not the same as the thousands spent on long periods of time --
Long-term medical bills for the future.
\"It\'s like a supplement,\" explains Carlson. \"The more you save, the more you want to save.
Security feels good.
\"There is nothing wrong with indulging in savings.
For those who achieve their financial goals through these extreme savings methods, savings addiction can feel very valuable.
However, the key for money savers is to always be aware that they are willing to control if savings habits go too far.