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Lam discusses shifts in global population, past and future

Thompson says LGBT social movement will bring new strength in push for tighter gun control

Yang says devalued pound will decrease resources for the families of migrant workers in Britain

Highlights

Overview of Michigan's advanced research computing resources, Monday, June 27, 9-10:30 am, BSRB - Kahn Auditorium

U-M's Data Science Initiative offers expanded consulting services via CSCAR

Elizabeth Bruch promoted to Associate Professor

Susan Murphy elected to the National Academy of Sciences

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Shapiro says Americans' seemingly volatile spending pattern linked to 'sensible cash management'

a PSC In The News reference, 2014

"Even Finance-Conscious Consumers Spend Swiftly After Payday" - Wall Street Journal. 07/10/2014.

Using data mined from a smart phone app that tracks account balances (Check), Matthew Shapiro and colleagues found that Americans' tendency to steeply increase spending after the receipt of anticipated income (pay or benefits checks) can be mostly accounted for by their payment of regularly recurring bills rather than shopping splurges. Shapiro says: "That's not irrational. That's sensible cash management." They also found, however, that individuals with less cash in their bank accounts increased their spending more after receiving a payment than did folks with more money in the bank.

Related journal article

Researcher:

Matthew D. Shapiro

More Media Coverage:

Science Magazine. Surprise, surprise: Americans hold on to their paychecks. 7/10/2014.

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