Photo: Flickr / Cayusa
If you’re the type to carry 20s and 50s in your wallet, then you’re already a step ahead on the road to becoming financially savvy.That’s because the way you spend can be determined simply by the kinds of bills you carry—and the bigger, the better.
That’s what a study by two business marketing professors, Priya Raghubir and Joydeep Srivastava, suggests in an upcoming issue of the Journal of Consumer Research, according to TIME Moneyland.
People who keep small bills with them—ones and fives—are more likely to spend them often and on insignificant purchases. Translation: a 20-dollar bill will last longer than 20 one-dollar bills.
Meanwhile, carrying a $100 bill says you mean business and are thinking more seriously about whatever you decide to purchase.
This is one way to trick your mind into being smarter about your finances. Try it out and see if stashing larget bills in your wallet helps curb your impulse spending habit.
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