EVEN when money is short, an occasional high-end experience is tempting. From luxury clothes to a round of golf, splurging not only makes people feel better, but may also enhance their status with their friends and relations. And for those without much status to start with, that seems to matter more. Researchers have long observed that people who have low incomes spend a bigger fraction of their earnings on things they perceive as status-enhancing than do those with money in more abundance. However, work by Blaine Landis and Joe Gladstone of University College, London, suggests that this is not equally true of everyone. Differences in personality have a big effect on how people respond to poverty.
Source: New feed