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Dublin: 13 °C Saturday 15 August, 2020

QUIZ: How Good A Saver Are You?

Do you still have your Communion cash hoarded away or are you a real big spender?

Image: Shutterstock/igorstevanovic

THESE DAYS, THE Irish nation is in the happy – and very thrifty – position of saving more than we’re borrowing.

According to the most recent Central Bank figures for 2017, Irish banks currently hold €8bn more saving deposits than loans, compared to a massive €72.6bn more loans than deposits back in 2008.

For some of us, the word ‘saving’ means squirreling away a tenner here and there. For others, it can mean monthly deposits to a savings account.

Then of course, there are those for whom saving is a way of life. You name it – Communion money, scratch card winnings, 18th birthday money – they’ve stored it away for a rainy day.

So what kind of saver are you? Do you still have the €15 you got for coming third in the school debating competition back in 1993? Or do you prefer to live more of an in-the-moment existence that just about sees you through until next payday?

We reckon we can figure your savings persona out with a few simple questions. Here goes…

1. First up, do you have a savings account separate to your current account?
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Yes
No
2. How do you keep track of your spending?
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I don't, I just spend as I need to
I try to stick to a monthly budget

I use an app to track everything
3. If you have a credit card, what's your approach to paying it off?
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I pay it off in full each month
I pay the minimum required amount each month

It really depends on the month
I don't have a credit card
4. You've had a tough week and deserve a little treat. How much money would you consider spending as a 'splurge'?
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€10
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€50

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€100
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The limit does not exist
5. What one word best describes your feelings about your finances?
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Confident
Determined

Anxious
Neutral
6. Your car breaks down, and you're suddenly landed with a €550 bill. What's your first thought?
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I'll have to dip into my savings.
Well, there goes the rest of my paycheck.

Who on earth is going to lend me €550?
If you have an overdraft, how often do you dip into it?
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Every couple of months. It's a good buffer
Never. It's only for extreme emergencies

Oh, I'm always in my overdraft
I don't have an overdraft
8. If someone gave you €100 right now, what would you do with it?
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Buy myself something special
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Take someone out for a fancy dinner

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Give it to charity
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Lodge it in the bank, duh
Answer all the questions to see your result!
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You scored out of !
You're as thrifty as they come
Hey, big saver. Putting money away is second nature to you, and you rest easy knowing there's a little nest egg to hand in case you ever need it. Want a simple way to save more this Winter? Read on...
Share your result:
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You scored out of !
You're a pretty good saver, but you like to spend too
What good is saving money if you don't treat yourself every once in a while? You have a give-and-take attitude to your saving, and don't mind dipping into your stash every once in a while. Want a simple way to save more this Winter? Read on...
Share your result:
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You scored out of !
You're more of a big spender than a saver
Forget a nest egg, you're happy if you end up with more than a tenner left by the end of the month. Want a simple way to add to your savings, without curbing your spending? Read on...
Share your result:

No matter what became of your Communion cash, you’ll find it simple to save right now with Bord Gáis Energy. Get yourself Winter-ready and switch online to receive a free boiler service and 14% off your gas*. Switch online at bordgaisenergy.ie. *T&Cs apply.

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