Cash habits: what they say about us and how they change with age

We spend money differently and on different. It turns out that our preferences in the field of income and expenses can tell a lot about us not only marketers, but also to psychologists.

Each of us has our own needs, preferences and interests, therefore, we also relate to money in their own way. We have “favorite” categories of expenses, and these preferences can tell a lot about the features of our character. But the most

amazing thing is that with age, our money habits can change.

Characteristic expenses

In a study on the connection between spending and character traits, about 2 thousand volunteers took part. Psychologists of the University College of London have studied about 2 million electronic records on the expenses of participants in debit cards and on online transaction marks. The authors also conducted a survey and determined how much each participant is prone to extroversion and introversion, how well he can control himself and whether he has neurotic features.

By comparing the data, the researchers revealed a correlation between the categories of expenses and the character traits of the respondents. For example, those who were opened new impressions were spent more than others on flights. Extroverts did not skimp when it was about food products. Those whom the researchers considered “pleasant people” more often sacrificed to charity.

Given the features of our character, we can pay close attention to those areas where we want to spend more or less

The most conscientious participants took more than others about savings. People prone to a materialistic view of the world, more often than the rest, acquired jewelry. Researchers also discovered that subjects with developed self -control are spent less on banking commissions. Loans on loans were much lower for those respondents who demonstrated the presence of neurotic features.

On the one hand, this knowledge can be useful to us: given the features of our own nature, we can redistribute funds and pay close attention to those areas where we want to spend more or less.

On the other hand, the spread of this information can create certain problems of the ethical sense. Companies providing financial services can use it to calculate people with certain personality traits and force them to spend more on certain goals. For example, “bomb” buyers with weak self-control of various newsletters and aggressive online advertising.

Age changes everything?

Imagine that you won the lottery and now you need to get a win. What would be preferable to you: to pick up the lion’s share of the amount at once or start with a small one, and leave most of the money for later? Your answer may depend on how old you are now, gerontologists from Cornell University (USA) are sure.

Researchers interviewed 300 volunteers of different ages about how they would dispose of their winning. As scientists expected, most participants in the study announced that they would prefer to pick up most of the money at once.

However, it turned out that older people more often than young ones planned to make the largest payments in the first place. It turns out that people aged did not strive for momentary satisfaction at any cost.

In the second part of the study, the participants were offered to choose the time in order to get money immediately, but in a smaller quantity, or wait and take a large amount. When it came to a “high price” for impatience, age did not affect the choice of participants.

According to scientists, in order to understand the main mechanisms that make us at different ages relate to money differently, additional research will be needed. In this case, researchers paid attention to a variety of factors, starting with their health and ending with the allegedly remaining time of life, but not one of them was decisive.