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Financial deprivation is associated with excessive discounting of delayed rewards. In the present research, we argue that this counterproductive tendency may be driven, at least in part, by the aversive and self-threatening nature of experiencing financial deprivation. Accordingly, we propose that self-affirmation—an intervention known to buffer negative consequences of psychological threats—may reduce delay discounting of the financially deprived. Results of two high-powered, preregistered experiments support this proposition. Specifically, in Study 1 (n = 546), we show that among participants with relatively lower income, self-affirmation effectively reduces delay discounting. In Study 2 (n = 432), we manipulate the feeling of financial deprivation and demonstrate that self-affirmation reduces delay discounting among those who feel financially deprived. We also examine the underlying process of this effect and find that self-affirmation bolsters a sense of personal control among those who feel financially deprived, which in turn reduces their delay discounting (Study 2). Overall, our findings suggest that the relationship between financial deprivation and delay discounting is malleable and psychological interventions that attenuate self-threats and bolster a sense of personal control can be applied to reduce myopic tendencies of the poor.

Building on recent psychological research showing that power increases self-focused attention, we propose that having power increases accuracy in perception of bodily signals, a phenomenon known as interoceptive accuracy. Consistent with our proposition, participants in a high-power experimental condition outperformed those in the control and low-power conditions in the Schandry heartbeat-detection task. We demonstrate that the effect of power on interoceptive accuracy is not explained by participants’ physiological arousal, affective state, or general intention for accuracy. Rather, consistent with our reasoning that experiencing power shifts attentional resources inward, we show that the effect of power on interoceptive accuracy is dependent on individuals’ chronic tendency to focus on their internal sensations. Moreover, we demonstrate that individuals’ chronic sense of power also predicts interoceptive accuracy similar to, and independent of, how their situationally induced feeling of power does. We therefore provide further support on the relation between power and enhanced perception of bodily signals. Our findings offer a novel perspective–a psychophysiological account–on how power might affect judgments and behavior. We highlight and discuss some of these intriguing possibilities for future research.