Study: Carry big bills to stop spending - The Business Journal of Milwaukee:

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The study finds that shoppers are more wary of spendinyg when carrying one big denomination of cash instead of multiple denominations equivalent to thesame amount. Doinh so curbs spending because is it is consciouslh harder to break a big bill and doinf so heightens the chance consumers will lose trackof spending, accordinv to researchers. When those studied knew they had tosave $100 or practicd self-control in spending, they were more likely to choose a singlr $100 bill than five $20 bills. “Id you want to cut back on your spending in thistighyt economy, keep your cash in a few big bills vs. a number of smaller said Joydeep Srivastava, associat e professor of marketing at theRobert H.
Smith School of co-author of the research. “Inh the face of the temptationto spend, you’lpl be more reluctant to breao that hundred-dollar bill so you’ll end up savinbg it.” The research will be published in an upcoming editionb of the Journal of Consumer Research. It follows previoue research by Srivastavaand co-researcher Priya Raghubir of New York Universityy that finds consumers spend more when usinfg credit cards or gift cards instear of cash.