Poor spending habits linked to wealthy neighbourhoods

People who live in wealthy neighbourhoods are more likely to have materialistic values and poor spending habits, according to a new study.

The study also found that young people who live in urban areas, and are relatively poor compared to others around them, are especially affected. Researchers said this had to do with a feeling of “relative deprivation” – the feeling someone gets when they are surrounded by people more well-off, which leads to money being spent to project an image of wealth.

Researchers studied socio-economic profiles of a number of neighbourhoods, and compared this with survey data measuring participants’ views about money.

Read more at San Diego State University