Why our relationship with money is often complicated, no matter how much we have
Where our attitudes toward money and spending come from
Mental and emotional tendencies that predispose a person to being a tightwad
The tendency to act more like one’s parents as one moves through adulthood
My own tightwad tendencies, on the tightwad-spendthrift scale
The daily suffering that tightwads experience from not spending money
The lack of distress that spendthrifts feel about spending money
The tendency to unfairly criticize spendthrifts more than tightwads
Spendthrifts shopping for things they might need
The extent to which being a spendthrift or tightwad may be domain specific
Possible generational or situational effects on spending attitudes and habits
The experiences that tightwads often miss out on
Feeling like we have more money when we’re willing to spend it
The tendency to treat a raise and higher cost of living differently, especially for spendthrifts
Shopping momentum and what-the-hell behavior among spendthrifts
Why spendthrifts tend not to learn from their overspending
Why spending regret tends to be different for material things vs. experiences
Personality correlates of spendthrifts and tightwads
Why tightwads and spendthrifts often wind up together in romantic relationships
Whether it’s better for couples to have joint or separate bank accounts
The degree of financial transparency that is ideal for couples
Scott Rick, PhD, is an associate professor of marketing at the University of Michigan’s Ross School of Business.
Scott received his PhD in Behavioral Decision Research from Carnegie Mellon in 2007, and he then spent two years as a post-doctoral fellow at Wharton.
His research focuses on understanding the emotional causes and consequences of consumer financial decision-making, with a particular interest in the behavior of tightwads and spendthrifts.
The overarching goal of his work is to understand when and why consumers behave differently than they should behave (defined by an economically rational benchmark, a happiness-maximizing benchmark, or by how people think they should behave), and to develop marketing and policy interventions to improve consumers’ decision making and well-being.
Find Scott online at his websitewhere you can learn more about his work.
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