The Economic Times

Why people keep checking their bank balance on app even when they already know how much money they have. Psychologists explain the habit

Checking your bank balance repeatedly, even when you already know how much money is in your account, may seem like a meaningless habit. But the simple act of opening a banking app can be connected to how people manage spending, financial awareness and their sense of control over money. Research suggests that having easy access to financial information can influence spending behaviour, while having enough readily available cash can also be linked with greater financial wellbeing.