What's your savings personality?
By Laura Bruce • Bankrate.com

Are you a struggler? Are you in denial?

When it comes to money our personalities, specifically our financial attitudes, can have a big influence.

There are the tightfisted folks who hate to spend money on anything, and there are the ones who don't blink at blowing $10 on a chocolate martini. There are people who start saving at age 20 for retirement, and there are many who put off saving for retirement until the kids are grown and the mortgage is paid.

A recent survey by the American Savings Education Council and the Employee Benefit Research Institute says Americans can pretty much be divided into five distinct groups when it comes to finances and planning for retirement.

Here are the findings:

Planners (23 percent): These folks are disciplined when it comes to saving and when taking financial risks. They enjoy financial planning and believe anyone can have a comfortable retirement if they just plan and save.

Savers (19 percent): They're careful with their money and, like planners, are seldom set back by unexpected events. But their risk-averse behavior makes them savers rather than investors.

Strugglers (18 percent): Although not generally impulse shoppers, strugglers frequently suffer financial setbacks. Many consider themselves disciplined savers, but the struggle this involves makes them cautious with their savings.

Impulsives (24 percent): The impulsive types believes a comfortable retirement is possible and many are willing to take financial risks, but they are not disciplined savers. Instead, they are prone to impulse buying and financial setbacks.

Deniers (15 percent): People in this group dislike financial planning and seldom plan even for more immediate financial concerns. Deniers do not feel a comfortable retirement is within their reach.

-- Posted: April 29, 2002