Why do some people manage to put money away even when they don’t have spectacular salaries, while others spend almost everything they earn? The answer is not just about income or financial literacy. A new study published in Journal of Personality and Social Psychology suggests that the secret lies in dispositional optimism, that is, the tendency to look to the future with confidence and to believe that things can turn out favorably.
The research, conducted on a sample of 143,461 people from several countries, shows that optimistic people tend to save more, and this connection is even more evident in the case of those with low incomes.
The researchers’ explanation is simple: saving involves giving up some of today’s comfort for a future benefit. And people who believe their efforts will pay off are more motivated to set financial goals and follow through on them. However, the authors point out that optimism should not be confused with naivety.
Although, in theory, a highly optimistic person might believe that the future will be good no matter what they do and that they no longer need to put money away, the results of the study show that optimism is generally associated with more responsible financial behavior.
The analysis also shows that the link between optimism and saving is stronger among people with low incomes. The authors explain that when resources are limited, putting money aside requires more self-control and planning. Conversely, for high-income earners, saving may simply arise from the fact that income exceeds expenditure, so that the role of optimism becomes less important.
Relationship with money
“It’s fascinating how a trait we associate more with mood can so concretely influence the way we manage our money. But we’re talking about healthy optimism, not toxic positivity or reality denial. Dispositional optimism is the belief that the actions you take today can build a better future, and that even if there are obstacles, you’ll find the resources to handle them.”explains Denisa Zdrobiș, systemic psychotherapist, for “Adevărul”.
The specialist says that our relationship with money is not built only on mathematical calculations: “From the perspective of systemic psychotherapy, this result is very interesting. Our relationship with money is not only about numbers, but also about how we look at the future, about our childhood experiences, and about the messages we received in the family about safety, work and success.”
Why optimism helps people save
In his opinion, optimistic people do not necessarily save because they are afraid of a disaster, but because they have future projects in which they really believe. “They feel that their efforts matter. If they put aside even a small amount today, they have the belief that it will make a difference in a few years.”
At the opposite pole, lack of hope can also affect financial behavior.
“On the other hand, when someone has grown up with the feeling that life is unpredictable, that no matter how hard they try, things won’t change, or that “the money doesn’t arrive anyway,” what psychology calls learned helplessness can occur. The person no longer sees the point of small steps, because he is convinced that the outcome does not depend on him.” points Denisa Zdrobiș.
According to him, optimism also influences one of the most important financial skills: the ability to delay immediate reward.
“Saving is actually giving up an immediate gratification for a future benefit. If that future seems possible and desirable, it’s much easier to say no to an impulsive expense. Not because you’re watching yourself, but because you clearly see the purpose for which you’re making that effort.” emphasizes the specialist.
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What happens when financial problems arise
She says that the differences between optimistic and pessimistic people become even more visible during difficult times.
“Another important difference occurs when people go through financial difficulties. Optimistic people do not interpret a setback as proof that all is lost. If they lose their job or an unexpected expense arises, they are more willing to look for solutions, reorganize their budget and carry on. For them, the crisis is a stage, not a sentence,” continued the psychotherapist. “That doesn’t mean that optimism automatically makes people richer. The study shows an association, not a causal relationship. Income, financial literacy, opportunity and economic context remain hugely important. But how we interpret the future influences the small decisions we make every day, and these add up over time.”
This specification is also consistent with the conclusions of the authors of the study, which show that optimism predicts the level of savings even after controlling for other important factors, but it is not the only element that influences financial behavior.
Are we born optimists?
“There is a biological component, but that only explains part of the story. Research shows that about a quarter of this tendency is genetically influenced. The rest is shaped by life experiences and the environment in which we grow up.” supports Denisa Zdrobiș.
We learn to look at the future through the eyes of those who raised us. If I grew up in a family where there was constant talk about shortages, dangers and the fact that “you don’t know what tomorrow will bring”it is very possible to look at the world through the same lens, says the specialist. “Sometimes, without realizing it, we continue to live the financial anxieties of our parents or even our grandparents. In my practice, I often observe that people do not make financial decisions based only on the present reality, but also based on the stories inherited from the family. There are people who save excessively because they carry in them the fear of the generations who experienced lack. Others spend impulsively precisely because they grew up in restrictions and feel the need to recover what they have lacking”, she clarifies.
Optimism can be practiced
“The good news is that optimism can be cultivated,” adds Denisa Zdrobiș. Not overnight, and not by simply telling ourselves to think positively, but by repeated experiences that show the brain that it has influence over its own life.
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“For example, setting small and achievable financial goals can gradually change this perspective. Every success, even a seemingly trivial one, sends an important message: ‘my actions matter’. It is equally important to notice how we talk to ourselves when difficulties arise. A pessimistic person tends to believe that a failure will last forever and that it defines him as a person. Instead, healthy optimism means being able to say: “It was a difficult time. I don’t like what happened, but I can learn something and try again»”she thinks.
From his perspective, we sometimes need to ask ourselves: “whose are these fears, in fact?”. “Are they mine or inherited from generations before me? Awareness of these invisible family loyalties can profoundly change the relationship we have with both money and the future. Perhaps the real power of optimism is not that it makes us believe that everything will be perfect. But that it gives us the confidence that, no matter what life brings, we will find the resources to move on. And sometimes, it is precisely this trust that helps us build, step by step, not only more savings, but also a more settled life”, concludes Denisa Zdrobiș.
