Check out Good Housekeeping’s foolproof guide to cooking the perfect steak, just in time for Father's Day! On stands now for only P120.

Grab a copy now!

Good Housekeeping
Charlene J. Owen, Staff Writer
January 30, 2013

Your Spending Habits as an Adult are Affected by Your Childhood Experiences

Are you thrifty or lavish? A recent study shows that how you handle your current monetary affairs can be traced to your childhood. By Charlene J. Owen

Ever wondered about the factors that affect your spending habits? According to a study on MedicalNewsToday.com, your current income and expenses aren't the only factors that dictate how you keep or let go of your cash. It actually goes farther back than that--specifically, back to your childhood.

Vladas Griskevicius and his colleagues from the University of Minnesota's Carlson School of Management based the premise of their research on the “life history theory,” which suggests that events in an organism’s life are guided by its need to produce the largest possible number of surviving offspring and is dependent on its environment. They hypothesized that how a person uses money during dire times is affected by their lifestyles during their younger years.

In two experiments, volunteers were asked to complete tasks related to risk-taking with the premise of experiencing economic recession. Those who grew up in low-income homes tended to be more impulsive; they gravitated quicker toward luxury goods, and were loose with money whenever they had a lot of it. On the other hand, those who grew up in financially stable homes were more cautious; they gravitated less toward luxury goods and believed in delayed gratification.

It’s good to remember that neither strategy is good nor bad when done with appropriate timing and with conscious regard to possible consequences. As Griskevicius concludes, "Lots of research assumes that delay of gratification is always a good thing, but the current research suggests that it's sometimes smart to be impulsive… and maximize present resources and opportunities."

(Photo by Zürich Tourismus via Flickr Creative Commons)

COMMENTS
Name :
Email :
Website :
Comment :
Security Image
 
 
NOTE: FemaleNetwork.com is a CLEAN ZONE. Editors reserve the right to delete obscene comments.
Filter comments by:
  • Be the first one to comment...
Filter comments by:
 
follow us
Charlene J. Owen
Staff Writer
LATEST Articles
MOST READ Articles
Leaving Your Nega Friends Behind May Help You Become Successful
Misery needs company, but for how long?  Jun 28, 2016 
QUIZ: Should You Quit Your Job Today?
If you're looking for a sign...  Jun 27, 2016 
5 Questions You Shouldn't Ask During a Job Interview
Put your best foot forward and avoid these Q&A pitfalls.  Jun 22, 2016 
7 Reasons Why You're Having a Hard Time Saving Money
Is it always "petsa de peligro" for you?   Jun 14, 2016 
ADVERTISEMENT