The Saver-Splurger

Signs you might be a Saver-Splurger:

• You have characteristics in common with savers and spenders.
• You can put a lot of money in savings, but then give in to irrational spending urges.
• When you do spend from your savings, you might buy items that you don't need or won't use frequently.

Pitfalls:

When the pendulum swings from compulsive saving to compulsive splurging, it can be emotionally draining. You are frequently stressed and disappointed in yourself because you worked so hard to save money only to lose it so quickly.

Money advice:

• When choosing to splurge, Saver-Splurgers rarely give their purchases much thought, similar to Compulsive Spenders. Before making a major purchase, consider how you might feel in a week or two. Maintain focus on your financial objectives.
• Researching the item you want to buy can help you avoid making impulsive purchases. Avoid browsing shopping apps when you're worn out as your brain will be less able to resist the urge to buy, especially if there are tempting sales and discounts. You can avoid making impulsive purchases during a sale by following the 72-hour rule.