“They Are Discovering Measurable Differences Between The Brains Of People Who Save And Those Who Spend With Abandon”

Can the brain be rewired to change spenders into savers? From Newsweek‘s new report on the intersection of consumer culture and neuroscience:

“As brain scientists plumb the neurology of an afternoon at the mall, they are discovering measurable differences between the brains of people who save and those who spend with abandon, particularly in areas of the brain that predict consequences, process the sense of reward, spur motivation, and control memory.

In fact, neuroscientists are mapping the brain’s saving and spending circuits so precisely that they have been able to rev up the saving and disable the spending in some people (in the lab, alas; not at the cash register). The result: people’s preferences switch from spending like a drunken sailor to saving like a child of the Depression. All told, the gray matter responsible for some of our most crucial decisions is finally revealing its secrets. Call it the ‘moneybrain.’

Psychologists and behavioral economists, meanwhile, are identifying the personality types and other traits that distinguish savers from spenders, showing that people who aren’t good savers are neither stupid nor irrational—but often simply don’t accurately foresee the consequences of not saving. Rewire the brain to find pleasure in future rewards, and you’re on the path to a future you really want.”