Extrovert people on low incomes buy more luxury goods than their introvert peers to compensate for the experience of low financial status, new research has found.
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According to a study:
- The study, used real life spending data from bank accounts in Britain.
- To investigate the spending habits of richer and poorer people with different personality types.
- People living on a low income often feel low status in society.
- And spend a higher percentage of their money on goods and services that are perceived to have a high status.
- Expert said,we’ve shown that personality looks to be an important factor in how people respond to living with limited resources.
- We hope this new association will help us better understand which people may be likely to engage in behaviour.
- In addition,that perpetuates the conditions of financial hardship,expert said.
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Experiment:
- Customers were asked whether they would complete a standard personality questionnaire.
- And to consent to their responses being matched anonymously for research purposes with their bank transaction data.
- Furthermore,the study analysed thousands of transactions from 718 customers over 12 months.
- Experts said,it’s clear from our study that an extrovert personality is a driver for low-income individuals purchasing more luxury goods,
- And this is most likely to compensate for a perceived low social status that isn’t as keenly felt by introverts.
- In addition, we saw very little difference in the spending habits of introverts and extroverts with high incomes.
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