Poor money saving linked to general impulsiveness

Press Release - Links: - Financial imprudence is linked to other impulsive behaviour such as overeating, smoking and infidelity, according to a new study led by UCL researchers, published in the journal Personality and Individual Differences . The study, conducted through the BBC website with over 40,000 participants, measured people's financial impulsivity by asking whether they would they prefer to receive £45 in three days or £70 in three months. The survey asked a related series of questions about other behaviours. Nearly half of those who responded preferred the smaller-sooner sum of money, and these people were more likely to show a raft of other impulsive behaviours. Stian Reimers, ESRC Centre for Economic Learning and Social Evolution at UCL, says: ?One of the big questions about people's financial planning is whether decisions to spend or save come from personal knowledge and experience of money matters or whether they reflect someone's personality more generally. ?Our research shows that people with an impulsive money-today attitude ignore the future in other ways. For example, they are more likely to smoke and more likely to be overweight, which may reflect a preference for immediate pleasure of nicotine and food over long-term good health.