Money

People more likely to save money if they have ‘nasty’ personality, study reveals


Those who have a more negative demeanour are better at saving money, according to new research.

A study conducted by both Columbia and Colorado University found that those who are more pleasant prioritise spending cash on socialising and are therefore less likely to save.



Experts at the American Psychological Association claim this is because “nice people” don’t value money, while highly conscious people may be more drawn to future planning and saving funds.

Findings come as 34 per cent of UK adults were found to have no savings. Meanwhile, Americans just save 2.3% of earnings, the lowest score in the last 20 years.

However, researchers found that people are likely to save more if offered incentives that will benefit their futures. Experts found people were 3.57 times more likely to save if they received emails encouraging them to put money away in a tone that matches their personality traits.

The personality-match effect stayed the same for wealthy and poor participants. Speaking on the method, Dr Sandra Matz of Columbia University said: “We tried to think of ways we could motivate agreeable people to save more.

Researchers tried to entice more agreeable people into putting away cash(Image: Getty/Tera Images RF)
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“Could we simply highlight how saving money would help them protect their loved ones? This suddenly makes money a means to an end that they care about.”



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