The Fewer, the Better: Number of Goals and Savings Behavior

Dilip Soman , University of Toronto, Canada
Min Zhao, University of Toronto, Canada
Contrary to common belief, we demonstrate that a single savings goal leads to greater savings and savings intention than multiple goals due to the implementation intention evoked by the single goal. This effect is attenuated when the saving is easier to implement or multiple goals involve little competition among themselves.
[ to cite ]:
Dilip Soman and Min Zhao (2011) ,"The Fewer, the Better: Number of Goals and Savings Behavior", in NA - Advances in Consumer Research Volume 39, eds. Rohini Ahluwalia, Tanya L. Chartrand, and Rebecca K. Ratner, Duluth, MN : Association for Consumer Research, Pages: 45-46.