When Tightwads and Spendthrifts Can Agree on Spending

Not all consumers perceive or experience inflation, shopping environments, and economic decision-making in the same way. Scott Rick, a University of Michigan professor of marketing, studies consumer behavior, focusing specifically on the spending patterns of “tightwads” and “spendthrifts.” In this episode of Michigan Minds, Rick discusses these two consumer types, how the marketing industry targets them, and how couples with contrasting spending habits can navigate managing their finances.