RoadFish Offers Suggestions for Dealing with Mood and Finances

Share Article men’s lifestyle and finance magazine comments on a recent study that points to sadness as being a factor in poor money management, and urges readers to stay positive for their health—and their wallets

I’m sure we’ve all made an emotional purchase at one point or another. But the trick is to identify which financial decisions you are making because of emotions and be conscious about not doing that. men’s lifestyle and finance magazine today issued their statement on a recent study performed by professors at Harvard, Columbia, and the University of California Riverside revealing how emotions can effect personal finances. The study showed that being sad can actually cause people to settle for less money upfront than more money down the road due to a desire for immediate gratification. offers some quick “get happy” tips to readers and prompts consumers to try to leave emotions out of their personal finances.

Blake Ellis of CNN Money recently reported about the study conducted by professors from Harvard, Columbia, and University of California Riverside, which proved that sad people have a tendency to forego larger sums of money in the future in order to take a smaller amount of cash immediately. The study offered each of the 600 participants smaller amounts of money right now versus a larger sum three months later, after they had been exposed to either sad or happy scenes from movies. The sad participants accepted 13-34% less money immediately than the happier participants did, in order to avoid having to wait to get the cash. Co-author of the report Ye Li, also an assistant professor at University of California, Riverside said that sadness tends to make people turn to “retail therapy,” a problem that can hurt one’s wallet as well as their credit score. looked at further consequences of making emotional purchases or turning to retail therapy when feeling sad.’s Senior staff writer is quoted as saying, “Making poor financial choices in the short run can have a huge impact on the bigger picture as well, and this is what most people fail to consider in the heat of the moment. Blowing your savings or racking up debt on something trivial to make you feel better now not only hits your wallet hard, but when you get around to wondering, ‘Hey, so what is my credit score?’ you’ll come to find that it’s already in bad shape. I’m sure we’ve all made an emotional purchase at one point or another. But the trick is to identify which financial decisions you are making because of emotions and be conscious about not doing that.”

During the experiment, the median sad participant chose to accept $37 on the spot as opposed to waiting for three months to receive $85. Neutral participants, on the other hand, would accept no less than $56 immediately instead of the higher amount later. It was also found that sad participants chose to take $65 immediately instead of waiting for three months to get $100, while the neutral participants demanded no less than $74 today. The term “myopic misery” was coined as a result of the results by the researchers, which according to the above-mentioned article means that “sadness creates a myopic focus on obtaining now versus later.” also offered some inspiration for ways to create a happy mindset, such as looking at a photo of a happy moment or reading an inspirational book or memoir.’s Senior staff writer is quoted as saying, “I know that life doesn’t always go as planned, and I’m sure nobody ever plans on being unhappy. But some ways I’ve found to get out of a funk and put a smile on my face during droopy days are to make a mental list of ten things I’m grateful for. That forces me to focus on the positive things in my life, even if there is a sad circumstance going on. I also have a great little book of inspirational quotes that I’ll flip open when I need a boost. Also, never underestimate the power of doing a good deed to boost your spirits. Helping somebody out with their groceries, being kind to a sales associate or receptionist, and even practicing overly-polite driving can give you that fuzzy, do-gooder feeling. It’s the little things in life that comprise happiness, and we just have to remember to turn to them when we’re sad.”

In the study, participants did not actually receive any money. However Ye Li believes that the people who opted for the immediate payout were planning on spending the money. He is quoted as saying, “There’s no reason to get that money sooner if you don’t plan to spend it. The idea is that when you’re sad, you want to accelerate consumption—it’s all about getting money sooner.” The official research report states, “People typically make some of the most consequential choices of their lives while in emotional states. Our results suggest that [sad] individuals might exacerbate their financial hardship by making intemporal choices that favor immediate consumption more than is wise.”

About men’s lifestyle and finance magazine is catered towards male readers in their 30’s and 40’s, most of who tend to be highly motivated individuals who seek out challenges and adventures with enthusiasm. magazine offers advice on women, such as the best online dating websites, in addition to financial guidance and holiday debt advice. is owned, and operated, by Purpose Inc.

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David Klein
Purpose Inc.
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