Though these words were spoken almost 200 years ago, they remain true even today.
Extant research has demonstrated a strong link between power and money, as money is a
common source of power (Keltner and Langner 2007). Knowing that possessing money makes
people feel powerful (Furnham 1984), we set out to investigate if feeling powerful also prompts
an increased willingness to save money. This question is particularly important for two reasons.
First, individuals are likely to have experiences of feeling powerful (e.g., interviewing a potential
employee, giving advice) and powerless (e.g., defending a thesis, submitting a job application)
on a daily basis (Rucker and Galinsky 2008). Second, most Americans save too little. Even after
the 2008 financial crisis, the majority of American households did not change their saving
behavior (Kramer 2013).