How savers make decisions

Would you rather have now five euros or ten euros in a month? Both decisions have their advantages and disadvantages. Anyone who waits will be rewarded with double the amount. But who knows what is in a month? Is it not smarter to invest in an ice cream, as long as the sun is still shining? U.S. researchers asked the study participants right in front of this Dilemma. You wanted to find out how savers ‘ decisions.

To buy shares or a building loan contract is, of course, significantly more complex than the Experiment. But behind both is a similar idea: The savers waived today on something to have more in the future. Previous studies had assumed that savers have to think extra long about their decision and the pros and cons thoroughly weigh up.

The current study contradicts this assumption, as the research team from Duke University in the journal “Nature and Human Behaviour” reported. Accordingly, the savers would have made their decisions much faster than those who took the lower amount. Usually within a few seconds.

Savers: Focused and decisive

“Patient people do not make more analytical work,” says Scott Huettel, Co-author of the study. “You make these decisions is actually the fastest.” Savers were not necessarily more resistant to temptations, but only focused.

For the study, the researchers had observed a total of 217 people in their decision-making and, with cameras carefully analyzing how your eyes are moving. The promised sum is varied as well as the waiting time. Using the cameras, the researchers were able to determine at any Moment what information the test person just appeared at the most important. It showed that the views of savers, and pressed almost exclusively between the individual sums of back – and-forth. Other information, hidden, rather, about when the money would actually get.

The study, however, also has weaknesses. For example, it is unclear whether the savers in the Experiment in real life, your money. In addition, the composition of the study participants is not representative, because only young people took part. The average age was 21 years.

Who paid for it? The study was supported by the US Foundation The National Endowment for Financial Education (NEFE), which promotes financial advice, as well as by the funding project for young researchers, National Science Foundation Graduate Research Fellowship.

According to the researchers, the study could help to motivate more people to Save. To focus “on the long waiting time can be overwhelming,” says author Dianna Amasino, which has also collaborated in the study. To focus “on the revenue and investment that can work against motivational.”

Which assets can accumulate when everyday habits such as Coffee-to-go, read here. Another Argument for Savings: According to a study from the year 2013 self-control makes people happy. Who verkneift and a temptation, therefore, is in average more satisfied.