The attraction of spending or saving

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MASON CITY, Iowa – First things first, are you saver or spender?

“I like to spend money, as much as I try not to I do, I do, I spend a lot on my kids,” Jillian Menning from Mason City said.

“I’m a saver, I don’t like to go out and spend a lot of money at one time,” Joyce Colombo said.

A recent survey done by TD Ameritrade shows if you are a saver, you are bound to be more attracted to one who saves too.

“I would definitely say I’m attracted to a saver. I married a saver so he, we kind of balance each other out.  I spend the money, he tells me to save it,” Menning said.

“Oh we always put a little bit away but not a lot so we always have a little bit to go somewhere and have some fun,” Colombo said with smile thinking of her husband.

It also shows women are more attracted to a saver, but only 39 percent of men who spend want to marry women who save.

“Typically with the younger society right now, men tend to be more risky with the stock market, investments, putting vacations on credit cards, stuff like that.  Women right now tend to be a little bit more, I want an emergency savings, prepare for down payment on house, get all my ducks in a row kind of things for life,” Tony Conroy, a personal banker with First Citizens Bank said.

The survey shows if you are spender and the other is a saver, you’re bound to balance each other out.  One will make sure to be prepared for an emergency while the other will make sure the two of you have a good quality of life, but if you find yourself going for a spender and you are one, beware.

“My recommendations on that would be just come up to a good solution of how much you should each set aside each month. Stick to it, pick a budget, pick a schedule, and stay to it,” Conroy suggests.

The survey shows both men and women have long term goals with male millennials typically wanting to save for retirement.  Millennial women, on the other hand, typically wanted to save for their child’s education.

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