How Money Can Change Your Behaviour

Several studies suggest that money can indeed change your behaviour – and often it's not for the better. Of course, some wealthy individuals are charitable and willing to help less fortunate people, but those are the exceptions. Though money may not affect your belief system, it can influence the way you think and act around other people. So, how does money change your behaviour?

In a 2004 study, researchers concluded that there is a distinct difference in motivation among participants to complete a given task when money is involved. Interestingly, participants that had been offered the most monetary reward complete the task quicker. In contrast, the group that had been provided with the least monetary reward was the slowest.

Another study from Yale School of Management suggested that money-conscious individuals are generally more self-sufficient, especially when money is the focus of their life. This study also demonstrated that money-conscious individuals are less likely to offer help or seek assistance from others.

According to a study published in the Journal of Personality and Social Psychology, wealthy people have a different view of class essentialism than poorer people. Wealthy individuals believe that their assets are a part of their genes and identity. In fact, they are likely to think that they are deserving of their wealth due to their circumstances and actions. Poor people, in contrast, believe that anyone can be wealthy or poor.

Furthermore, a 2012 study coined the term “self-interest maximization” that suggests those who perceived themselves to be in a higher class are more likely to be involved in unethical behaviour. They will actively work towards their best interest and are prone to show off their symbol of wealth, such as a luxury car.

Indeed, money can affect your behaviour. These social pitfalls of wealth as mentioned above, are among the negative aspects of being rich. However, you can always be the exception by volunteering, expanding your social circle, investing in charities and many more. In the end, your values are what count the most – not the size of your asset.