Published: April 18, 2013, 10:57 am
By JinYu Xu
Researchers from the University of Utah and the University of Kansas found that less is more when it comes to owning savings accounts. People who own multiple accounts cannot save any more money than people who had a single account. It turns out that people with multiple accounts do not worry about their money running out. Since there is money always available for them, they do notkeep track of how they spend. However, single account holders will easily remember how much moneythey spent and how much balance they have left remaining. In another research, the result shows single account holders not only can spend less money but they can save more. Researchers suggest that people who have multiple accounts use a software program to combine their accounts together so that it is easy to check the balance for all of them.
