You have too many bank accounts.
That is, if you're trying to cut back on spending and save money. According to new consumer behavior research, the easiest way to stop overspending is to use only a single account.
In new a study to be published in the forthcoming issue of the journal Organizational Behavior and Human Decision Processes, researchers found that consumers who made payments from a single account spent 10 percent less than those who had access to multiple accounts.
The study divided 91 people into two groups and asked them to do some online shopping. One group made payments from a single spending account, while the other group had access to the same amount of money spread across multiple accounts.
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