Spendthrift–Tightwad Scale

What it measures

The foundational measure of the spendthrift–tightwad individual difference, validated across multiple studies (total n>13,000) combining large online surveys, laboratory experiments, and archival data. The composite STS score predicts self-reported credit card debt (tightwads carry less debt), household savings rates, hypothetical spending decisions, and willingness to pay in auctions. The construct is largely orthogonal to income, education, and objective financial literacy — the pain of paying is an emotional rather than cognitive mechanism. Tightwads constitute approximately 24% of the population; spendthrifts approximately 15%; the majority (~61%) fall in the middle. Tightwads and spendthrifts both benefit from interventions that 'decoupling' consumption from payment (e.g., prepaid cards, subscription models, all-inclusive pricing) because these reduce payment salience — but for opposite reasons: decoupling allows tightwads to enjoy without anxiety; it prevents spendthrifts from overspending. The STS is a critical moderator of pricing format, payment mechanism, and consumer debt research.

Representative items

• Which of the following descriptions fits you best? [Tightwad / More of a tightwad / Equal mix / More of a spendthrift / Spendthrift]
• Have you ever felt like you spend too much money?
• Do you have trouble controlling your spending?
• Some people have difficulty parting with money even when they know they should spend it — do you consider yourself one of these people?

Citation

Rick, S.I., Cryder, C.E., & Loewenstein, G. (2008). Tightwads and spendthrifts. Journal of Consumer Research, 34(6), 767–782.