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New York, September 14: If you're an emotionally stable person, you're more likely to go on vacation while nervous people with lower stress thresholds (higher neurotism) spend less, finds an interesting study .
Research suggests that personality traits are linked to more specific spending behaviors, which in turn should have an impact on overall outcomes such as long-term financial goals.
"We've known for a long time that personality is tied to what we call the overall results: how much money you make or how happy you are or how long you live," said Sara Weston of Northwestern University .
"But we do not know why personality is related to these things."
The study, published in the journal Social Psychological and Personality Science, also revealed that those with more artistic interests and more active imagination, those who are more open, spend less during the period holidays, while those who are not very open spend more.
In addition, those who are more conscientious spend more and those who are less conscientious spend less.
For the study, the team aggregated more than 2 million individual bank account transactions of 2,133 participants and compared the relationship between the five major OCEAN personality traits – openness to experience, dedication, extroversion, pleasure and neurosis – and the Christmas season.
The researchers point out that personality is only a small part of consumer behavior, especially at the individual level. From household size to income and many other factors, there are many influences on individual purchases.
This research however provides a roadmap showing how the combination of large-scale information with personality can provide an overview of consumer habits.
"By providing objective measures of annual expenditures and holidays, the data allow for a truly ecological study of the relationship between personality traits and consumer behavior," the researchers noted.
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