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Read Here! Scientists’ Views on Purchasing Habits of People

Recently scientists have conducted a study that stated, people who are extraverted and on low incomes buy more luxury goods than their introverted peers. They do it to compensate for the experience of low financial status. As per the psychologists, people living on a low income often feel low and neglected in a society. To compensate, they spend a higher percentage of their money on goods and services that are supposed to have a high status.

The scientists used a real life spending data from UK bank accounts to investigate the spending habits of rich and poor people with different kinds of personality traits.

The researchers demonstrated that personality looks to be an important aspect in how people act in response to a living with restricted resources. According to the researchers, this new connection will help them understand people who are likely to engage in behavior that are responsible for the conditions of poverty.

Earlier it was found that extraverted concerns about their social status than others. The new research shows that when outgoing people have a lower income, they spend proportionately more on status goods than introverts on the same income. At higher incomes, the difference in spending reduces as introverted people buy more luxury goods.

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By: Priyanka Negi

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