How to Motivate People to Save? Self-control as a Moderator between Mental Simulation and Saving Behavior

Abstract

Research has examined how to motivate people for explicit goals (e.g. for a new cellphone), but it is uncertain how people can be motivated to save for unspecific matters. Research suggests that mental simulation can substitute for actual experiences, thereby affecting people’s preferences and behavior. The current study examines whether mental simulating being very poor or very rich evokes the similar feeling as being in that situation, and if this mental simulation affects people’s saving behavior. Self-control functioned as a moderator to test for interaction with mental simulation on saving behavior. A significant effect of self-control on saving behavior was found. There was no effect of mental simulation on saving behavior as well as no interaction effect between mental simulation and self-control on saving behavior. More detailed representations during mental simulation might be needed to find an effect of mental simulation on saving behavior.