Trick Yourself into Spending Less Money Using the “Denomination Effect”
Not all dollars are created equal.
According to research performed by Priya Raghubir, people are more likely to spend small-value bills than large-value bills. She terms the brain’s preference to hold onto bigger bills the “Denomination Effect”
Dr Raghubir tested this effect by paying visitors to an Omaha gas station $5 to fill in a fake [...]
Filed in savings, thrift One Response so far
