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Money Matters Blog

Tuesday, March 30, 2021

What Type of Saver are You?

We all know the benefits of saving money and how having a nest egg can help us down in the road in case of emergencies. We know the age-old adage that you should generally have about 1-2 months’ worth of living expenses in your checking and another 3-6 months’ worth in your savings. For some, following these savings guidelines is as easy as butter. For others, trying to put away five dollars is a struggle. We’ve put together a list of 5 different types of savers and how to best utilize your membership to get the most from your money!

So… What Type of Saver are You?

The Natural Saver

For this saver, the habit of putting money away is natural. They were brought up with a strong sense of how and when to save, and this allows them to do so like it’s second nature.

If you’re a Natural Saver, your good sense of savings habits can be best utilized with accounts that earn dividends, earning you money for what you’re already doing. If you don’t need access to the money for a length of time, a Certificate of Deposit may be up your alley, earning you a boost on your dividend rate based on how long the money is locked up. Money Markets and other types of Savings Accounts are also available to grow your savings.

The Bootstrap Saver

The Bootstrap Saver wasn’t born with their savings habits; they learned them through hard work and dedication. For this type of saver, putting away money is something they’ve educated themselves on, keeping up with the new trends as they continue to educate themselves.

If you’re a Bootstrap Saver, new and exciting ways to save are most likely up your alley! Community Financial has lots of new options, including our Premier Checking, which can earn you 3.00% APY on balances up to $7,500! 

The Investor

The Investor is a saver who always has their eye on the prize. These savers like to watch their money grow fast, and are always following the latest dips and rises in the stock market to make sure their money is getting invested in the best place possible. For this type of saver, having a solid investment partner is key.

If you’re an Investment Saver, you need an investment partner that you can work with and trust. At Community Financial, we have Investment & Insurance Representatives who will work tirelessly with you to help your money do what you want it to.*

The Goal Setter

For the Goal Setter, saving is about the end goal. Whether that be a vacation, new car, or home repairs, the Goal Setter Saver knows exactly what they want and how much it will take to get there.

If you’re a Goal Setter Saver, Community Financial offers so many different options to help you reach your goal! Our Goal Setter Savings account, for example, is exactly tailored to meet your needs, helping you reach your goal within 24 or 60 months. Also, with the addition of our new and improved eBanking launching March 16, 2021, you can manage your savings goals within My $ Manager, a free program dedicated to making sure your goals are staying on track.

The Blindfold Saver

Last but not least, the Blindfold Saver. This type of saver doesn’t want to think about their money. Whether or not they have saved in the past, this saver gets tied in knots when they think about finances. That doesn’t mean they don’t know how to save, though, they just would rather have the savings done for them.

If you’re a Blindfold Saver, you’re looking for automated ways to make sure your money is being saved without the extra hassle of worrying about it all the time. Like the Goal Setter, a Goal Setter Savings account could be a great option for the Blindfold Saver. This account works with automated transfers that happen monthly to reach your savings goal—just set it and forget it! Another great option is our Holiday Savings, which you can also set automatic transfers into at intervals that make sense to you.

No matter which type of saver you are, Community Financial is always here to help you get on the financial path you want. Check out our Savings Calculator and speak to one of our Financial Service Representatives in branch or over the phone at (877) 937-2328 today to start making your savings goals a reality!


Your Turn: What kind of saver are you and what are the ways you find it easiest to save? Share with us in the comments!

*Securities are offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. Community Financial Credit Union and Community Financial Investments and Insurance Services are not registered broker/dealers and are not affiliated with LPL Financial. The LPL Financial Representative associated with this website may discuss and/or transact securities business only with residents of the State of Michigan.

Not NCUA Insured.  No Credit Union Guarantee.  May Lose Value.


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