Buy anything online these days and there’s likely to be a star rating attached to the product. But do these appraisals actually make us less savvy buyers? Psychologists found that people tended to prefer products with more reviews, even when they had the same low rating as an alternative. Yet, statistically, the more-reviewed item was likely to be of lower quality.
It’s basically just giving away our hard-earned cash – so why do we tip? It might be because spending money on others makes us feel good. Scientists who conducted MRI scans found that a part of the brain linked to generosity triggers a response in the “happiness” part of our grey matter. You can read about the other ways spending money can boost happiness here.
Want to improve your finances? Breaking bad habits involves five distinct stages, according to this Psychology Today article. It’s normal to move in and out of stages, sometimes repeatedly, explains behavioural economist Sarah Newcomb. And we don’t actually make a change until step four, after the pre-contemplation, contemplation and preparation stages.