More women pay on plastic to avoid guilt
A bit of retail therapy can do wonders to a woman’s mood, but only if she puts the expense on a credit card, according to a new study
A bit of retail therapy can do wonders to a woman’s mood, but only if she puts the expense on a credit card, according to a new study
Having a bad day and need a boost? Then it might be wise idea to lock away the credit card. Research shows women are more likely to make expensive purchases on plastic when feeling down.
These findings may help explain why in a time of economic recession and ‘doom and gloom’, shoppers can’t seem to stay away from the high street.
When a person's ego is threatened-by doing poorly on a task or by being told they're not as good as they hoped, they repair their self-worth with a bit of retail therapy and a few luxury goods.
A study published in the journal Social Psychological and Personality Science suggests the psychological pain caused by spending large amounts of cash outweighs the shopping trip’s boost to self-esteem, so many opt to use plastic.
A follow-up report claims volunteers wanting to buy designer jeans were prepared to pay 30 per cent more if they had a bruised ego and were 60 per cent more likely to use a credit card to make the purchase.
The studies also pinpoint the possible disastrous results of lax lending policies such as high interest mortgages and loans for poor customers.
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