When you open your wallet and see a couple of crumpled dollar bills, you probably don’t feel very rich. With enough of those dollars, you can visit the vending machine at work or grab a drive-thru dinner on the way home.
But how would you feel if you opened your wallet to find a crisp $20? Would you still feel compelled to spend it? Or would you want to hold on to it as long as possible?
Researchers have found that you’re less likely to spend a single large bill (like a $20 or $50) than the same amount in smaller bills. Once you break a larger bill into smaller currency, the likelihood that you’ll spend it increases. The next time you visit the ATM or request cash back, opt for $20s instead of smaller bills. You’ll probably find that you hold on to them a little longer.