Lonely hearts frivolous with money

LONDON: People who don't have many friends, feel alone at work, or are sad about a breakup are more frivolous with their money, a new study has claimed.

Researchers from Hong Kong found that when people feel lonely or rejected they put a greater value on money. This is because they associate being wealthy with being socially accepted, the Daily Mail reported. As a result, lonely, sad and rejected people gamble and make riskier, but potentially more profitable, financial decisions in a bid to fit in, they said.

"Feeling socially rejected triggers riskier financial decision making ," said authors of the study including Rod Duclos from Hong Kong University of Science and Technology, Echo Wen Wan of University of Hong Kong, and Yuwei Jiang from Hong Kong Polytechnic University.

"In the absence of social support, consumers seek significantly more money to secure what they want out of the social system surrounding them," they said.

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