Having more money in your wallet is good for having money.
On the one hand, according to psychologist Mary Gresham, there is the concept of "mental accounting." And related to that is the "pain of paying." The pain becomes greater when we pay with cash and when the value of the banknote is high.
So it is better to have a 100€ banknote with you than five 20€ banknotes. Because one hundred euros is too attractive to spend.
On the other hand, people can't help striving for a positive self-image. A study with 17,000 participants from 40 countries analyzed the return of lost wallets.
If you have 100€ with you, 72% and if you have 14€, 61% will return your wallet after losing it. The reason is that when we find a lost wallet and keep it, the more money there is in the wallet, the more we see ourselves as a thief. And we want to see ourselves as a thief only minimally at most. Positive self-image!
Have 100€ with you. Then you don't take your money away from yourself and the others won´t as well.
And the best place to lose your wallet is in Switzerland, Scandinavia or the Netherlands.
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