How Money Changes Personality: What a Massive Long-Term Study Reveals
A major study analyzing data from over 134,000 participants explores how income changes personality over time, linking higher earnings to increased conscientiousness and stability.
They say that money changes people, and usually it is meant as an insult. A large study published in the journal Psychological Bulletin attempts to check if there is any truth to this and what exactly changes.
The researchers, led by Prof. Lee Won-dong from the Business School of the Chinese University of Hong Kong, combined data from 11 long-term tracking studies. A total of 134,551 people participated, and the researchers followed them for 4 to 19 years. In each study, the income and personality traits of those people were measured at least three times.
What the Data Shows
The researchers examined the Big Five personality traits used in psychology. For three of them, the picture is particularly clear:
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Conscientiousness: This trait is responsible for order, responsibility, and persistence. After an income increase, it tended to strengthen.
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Emotional Stability: The same picture: those who earned more later became calmer and more stable.
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Extroversion: Here the direction is opposite. An income increase was subsequently linked to lower extroversion.
Why This Happens
"When income rises, it signals that career progression is significant and social status is improving," Lee explained. According to him, it is common to think that money adds confidence and a willingness to try new things, but over time, higher income may lead to more stability.
It is an observational study: it shows that changes occur together, but does not prove that money directly causes them. However, personality continues to change even in adulthood, and traits like order and emotional stability are linked to higher pay later on.
