Study: Carry big bills to stop spending - The Business Journal of Milwaukee:

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The study finds that shoppersw are more wary of spendinf when carrying one big denomination of cash instead of multipl e denominations equivalent to thesame amount. Doinfg so curbs spending because is it is consciously harder to breamk a big bill and doing so heightenws the chance consumers will lose trackof spending, accordingh to researchers. When those studied knew they had tosave $100 or practice self-control in spending, they were more likely to chooses a single $100 bill than five $20 bills. “Ifg you want to cut back on your spending in this tight keep your cash in a few bigbills vs.
a numbert of smaller ones,” said Joydeep Srivastava, associatee professor of marketing at theRobert H. Smith School of co-author of the research. “In the face of the temptatiom to spend, you’ll be more reluctant to break that hundred-dollaf bill so you’ll end up saving The research will be published in an upcomingg edition of the Journal ofConsumer Research. It followes previous research by Srivastavaand co-researcher Priya Raghubir of New York Universityy that finds consumers spend more when using credit cards or gift cardx instead of cash.