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Date Published : Thursday, February 14, 2008
People who are in a bad mood or sad for any reason often spend more on their credit cards when they go shopping, new research has found.
According to a study by US researchers, people who go shopping at stores when they are unhappy for a variety of reasons often end up spending more money and further push themselves into debt problems as a result.
The Sunday Telegraph reported that the survey by researchers from Harvard, Carnegie Mellon, Stanford and Pittsburgh universities in the US found sadness triggers greater "self-focus", which in turn can lead to more self indulgence and spending sprees.
A group of participants for the study watched a brief but emotive video about the death of a boy's mentor. Another group watched an emotionally neutral clip about the Great Barrier Reef.
Both groups were then taken to a shopping mall and the group watching the sad video offered to pay nearly four times as much for a sporty-looking, insulated water bottle than the group watching the nature video.
The Society for Social and Personality Psychology - the authors of the study - told the publication: "Because the study used real commodities and real money, results hold implications for everyday decisions."
Earlier this month, the Reserve Bank of Australia increased interest rates by 0.25 per cent to seven per cent as a result of high inflation and large-scale consumer spending.
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