About Careers MedBlog Contact us
Medindia LOGIN REGISTER
Advertisement

Extravagant Expenses can Mishap Your Savings at Times

by Julia Samuel on March 17, 2016 at 6:16 PM
Font : A-A+

Extravagant Expenses can Mishap Your Savings at Times

People do not think twice before spending on happy or solemn occasions while buying an engagement ring, desserts for a birthday party or even cremation urns. The expenses during weddings and even at funerals can be exploitative, say researchers.

"People's buying behavior changes when they're making purchases out of love because it feels wrong to engage in cost-saving measures," said lead author Peter McGraw from University of Colorado Boulder.

Advertisement


People abandon cost-saving measures when it comes to sentimental buys because they want to avoid having to decide what is the right amount of money to spend on a loving relationship, McGraw added in the paper published in the journal of Judgment and Decision Making.

The study involved nearly 245 participants and the team asked attendees at a wedding show about their preference between two engagement rings.

The attendees nearly always chose the more expensive ring when deciding between a more expensive ring with a bigger carat and a less expensive ring with a smaller carat.
Advertisement

Even when they identify a less expensive alternative to be equally desirable, people choose the more expensive of two items.

They also avoid searching for lower prices and negotiating better prices when the goods they're buying are symbolic of love, the researchers explained.

"The loss of savings can really add up and put people in compromising financial situations," McGraw stated.

Source: IANS
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
What's New on Medindia
Diet and Oral Health: The Sugary Connection May Become Sour
World AIDS Day 2022 - Equalize!
Test Your Knowledge on Sugar Intake and Oral Health
View all
News Archive
Date
Category
News Category

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

Most Popular on Medindia

Sanatogen Loram (2 mg) (Lorazepam) Post-Nasal Drip Sinopril (2mg) (Lacidipine) Daily Calorie Requirements Selfie Addiction Calculator Blood Pressure Calculator Noscaphene (Noscapine) Color Blindness Calculator A-Z Drug Brands in India
open close
CONSULT ONLINE WITH A DOCTOR

×

Extravagant Expenses can Mishap Your Savings at Times Personalised Printable Document (PDF)

Please complete this form and we'll send you a personalised information that is requested

You may use this for your own reference or forward it to your friends.

Please use the information prudently. If you are not a medical doctor please remember to consult your healthcare provider as this information is not a substitute for professional advice.

Name *

Email Address *

Country *

Areas of Interests