Tightwads Outnumber Spendthrifts
Which are you?
We all have a friend who can’t seem to save, constantly splurging on new shoes or the latest gadgets. But, contrary to persistent media coverage of overspending and under-saving, a recent international survey of more than 13,000 shoppers suggests that chronic under-spending is far more widespread than originally thought. In fact, the study reveals that tightwads outnumber spendthrifts by a 3 to 2 ratio.
The study by Scott Rick, Cynthia Cryder, and George Loewenstein reveals that tightwads save, not because they care more about the future than spendthrifts, but because forking out the money is too painful of an emotional experience.
Females are no more likely to be tightwads than spendthrifts, but males are nearly three times more likely to be tightwads than spendthrifts.
Respondents under the age of 30 were only slightly more likely to be tightwads than spendthrifts, but respondents over 70 were five times more likely to be tightwads than spendthrifts.
Do geeks tend towards one category? I wonder?
Posted: Tue - March 18, 2008 at 07:40 AM