Money in the Bank: Feeling Powerful Increases Saving

53 Pages Posted: 13 Apr 2014

See all articles by Emily N. Garbinsky

Emily N. Garbinsky

Independent

Anne-Kathrin Klesse

Tilburg University

Jennifer Aaker

Stanford University - Graduate School of Business

Date Written: April 11, 2014

Abstract

Across five studies, this research reveals that feeling powerful increases saving. This effect is driven by the desire to maintain one’s current state. When the purpose of saving is no longer to accumulate money, but to spend it on a status-related product, the basic effect is reversed and those who feel powerless save more. Further, if money can no longer aid in maintaining one’s current state, because power is already secure or because power is maintained by accumulating an alternative resource (e.g., knowledge), the effect of feeling powerful on saving disappears. These findings are discussed in light of their implications for research on power and saving.

Keywords: power, money, saving

Suggested Citation

Garbinsky, Emily N. and Klesse, Anne-Kathrin and Aaker, Jennifer Lynn, Money in the Bank: Feeling Powerful Increases Saving (April 11, 2014). Journal of Consumer Research, Forthcoming; Stanford University Graduate School of Business Research Paper No. 14-11. Available at SSRN: https://ssrn.com/abstract=2424072

Emily N. Garbinsky (Contact Author)

Independent

No Address Available

Anne-Kathrin Klesse

Tilburg University ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

Jennifer Lynn Aaker

Stanford University - Graduate School of Business ( email )

655 Knight Way
Stanford, CA 94305-5015
United States

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