The Psychology of the Tightwad Brain

[Fern]

http://www.nytimes.com/2007/01/16/sc...syahoo&emc=rss


The link above is an article in today's New York Times describing the differences in the way tightwads think, vs. spendthrifts. There are a few surprises.

[dossin1]

Well, that's it , I'm blaming it all on my insula from now on

[jodi]

Neat article.

[PRICEPLUS]

Nice article. Interesting to say the least!

[boefixepa]

This is my favorite quote:
“We developed this propensity to experience direct pain when we spend money,” Dr. Loewenstein said. “This explains why tightwads won’t spend money even when they should. It also helps to explain why we overspend on credit cards, and why people prefer all-you-can-eat buffets instead of paying for each item they order. We like schemes that remove the immediate pain of paying.”

If I want to buy something I know I don't have the $$ for or should not buy. I think back to the stress I felt when I didn't have money. Before the budget if you will. I guess that's enough to simultate that pain response and keep me from buying...LOL