Want to save money? Use $100 bills!
CHICAGO - It’s called the “denomination effect.”
Ol' Ben says, "$100 saved is $100 earned."
According to a study that will soon be published in the Journal of Consumer Research, shoppers aren’t as likely to spend their money if they carry their cash in large denominations.
Experiments conducted over the course of the study showed that given an equal amount of cash — in this case $100 — those carrying a Benjamin were less likely to part with it than those carrying Franklins or Jacksons.
For more, visit the Journal of Consumer Research.
March 30th, 2009 at 9:18 am
I’ve been reading along for a while now. I just wanted to drop you a comment to say keep up the good work.