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Can pyschology explain our fixation with money?

Just found a psychology blog and thought I would look up what articles they have on the psychology of money, one of our favourite subjects.

Interesting headlines …

  • People will spend more money when they feel down, but are often unaware of it
  • Spending money on other people makes us happier than spending it on ourselves
  • We prefer to pay more for a product as it makes us think it’s better quality
  • If you buy one thing today, you’re much more likely to buy more things than if you buy nothing at all
  • You won’t throw anything out, even if you hate it, until you feel you’ve had your money’s worth
  • Optimists spend money far more stupidly than pessimists
  • There’s no relationship at all between intelligence and wealth
  • The search for money today is like the search for food was for Neanderthals
  • Your brain gives you positive endorphins if you earn more than your peers
  • We automatically think of foreign money as “play money”, because we are unfamiliar with it

Find out more at the Pysblog!

Meantime, don’t believe everything the site says. 

For example, all of the research I can find says that money and sex are related, but this site has found research that says they are unrelated.

Like anything, and economists in particular, it just goes to prove that there are lies, damned lies and statistics.

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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