Non-saver

A 'non-saver' refers to an individual who does not actively participate in saving or accumulating financial resources for future use. This can encompass a wide range of behaviours, from those who spend all or most of their income as it comes in, to those who lack the financial discipline or knowledge to set aside funds. It is a descriptive term focusing on the absence of saving habits, regardless of the specific reasons behind it, such as low income, high expenses, or a lack of financial planning. The term implies a potential vulnerability to financial instability, particularly in the face of unexpected expenses or retirement.

Non-saver meaning with examples

• Despite earning a decent salary, he was classified as a non-saver due to his lifestyle, characterized by extravagant spending and a complete disregard for long-term financial planning. His friends often cautioned him, pointing to the risks of sudden job loss or unexpected medical bills. He usually laughed off their concerns, thinking his good luck and youth would last forever.
• The financial advisor focused his presentation on the challenges faced by non-savers, offering practical strategies to change their habits and to introduce them to savings programs and budgeting techniques to help them get on a stable footing financially. His goal was to demonstrate the importance of starting small, even with a limited income, as every little bit saved would contribute.
• A study revealed a concerning trend where a large percentage of young adults were categorized as non-savers, primarily attributing it to high student loan debt and a general feeling of financial insecurity. The research highlighted the need for accessible financial literacy programs and affordable saving vehicles to help encourage healthy money habits among this group.
• Recognizing herself as a non-saver, she resolved to make a drastic shift in her spending. The first step was to track her expenditures to see where her money actually went. She then started by setting a small but achievable goal and opening a separate savings account to automatically transfer a fixed amount each month. The goal gave her more motivation.