Have you ever embarked on a new diet, only to find yourself disheartened when the scales refused to budge by your target deadline? Or have you attempted to assemble that sleek new piece of furniture you ordered online, only to be left bewildered by a cryptic instruction manual? And of course, most of us have made enthusiastic New Year’s resolutions that quickly faded into forgotten promises within mere weeks. These shared experiences highlight a broader truth: when our goals are derailed or progress is slow, the temptation to abandon the effort altogether becomes strong. However, new research from the School of Management at Binghamton University, State University of New York, reveals that how we frame our investments—specifically, whether we think in terms of time or money—can make a profound difference in how motivated we remain when things get tough.

The study builds upon foundational psychological research, which suggests that individuals thrive when they feel autonomous, competent, and connected to others. These conditions support what’s known as self-determination, a psychological state essential to motivation and well-being. Conversely, repeated failures often undermine this inner drive. According to the study, when people focus on the time they’ve invested in pursuing a goal, rather than the financial costs incurred, they tend to sustain higher levels of motivation, even in the face of setbacks. This insight is particularly relevant to industries that depend on customer perseverance, such as the booming market for do-it-yourself (DIY) products and personal development tools.

Co-author Subimal Chatterjee, a SUNY Distinguished Teaching Professor, explained that people often make purchases—coaching sessions, self-help books, instructional videos—with a clear expectation of results. When those results do not materialise quickly, the sense of failure is magnified by the perceived monetary loss, leading to discouragement. By contrast, when people invest less money but more personal time, they are more likely to see the experience as one of growth and self-improvement. This perspective helps cultivate a mindset of persistence. The study supports the notion that the emotional consequences of failure are softened when individuals reflect on their time commitment and internal progress rather than on external, financial expenditure.

To test these ideas, researchers conducted three separate studies: two involving a total of 600 working professionals, and one involving 75 undergraduates from a Taiwanese university. The research examined how focusing on time rather than money influences motivation, particularly after failure. They found that while failing twice in a row significantly reduced people’s willingness to persevere when they viewed their efforts as financially driven, this demotivating effect was much less pronounced when the effort was considered in terms of time spent. The undergraduates, for example, were less likely to feel demoralised after failing a test if they concentrated on how much time they had devoted to studying and what they had learned in the process. Interestingly, the researchers noted that after three or more failures, the protective effects of time framing started to diminish, suggesting there may be a limit to this strategy’s impact.

The underlying reason for this pattern, the study suggests, is that people feel more external pressure and less control when they tie success to monetary investment. Money spent without visible returns can feel wasted, triggering frustration and self-doubt. However, framing a setback as part of a time-based journey allows people to retain a sense of agency. Assistant Professor of Marketing Debjit Gupta, a co-author of the study, offered the example of rehabilitation after injury. While such treatment may incur costs, viewing it through the lens of personal time spent healing and connecting with others can foster a more constructive and enduring mindset. The goal may not be achieved in a week, but the individual remains engaged and motivated to continue the process.

This time-over-money framing has valuable implications for business and marketing strategies as well. The researchers found that employees who feel more in control of their time report higher job satisfaction and are better able to recover from professional setbacks. Companies that cultivate this sense of autonomy and resilience among workers are likely to see improved morale and productivity. For marketers, the takeaway is clear: campaigns that highlight skill-building, personal growth, and perseverance—rather than material expenditure—can better connect with consumers. Subtly incorporating affirming, time-focused messages may encourage customers to stick with products and services, especially when results aren’t immediate. As Chatterjee concluded, when learning and growth are prioritised, time becomes a more meaningful currency, and motivation has a much better chance of enduring.

More information: Subimal Chatterjee et al, Trying but failing: the role of time and money in enhancing self-determination, increasing goal persistence, and reducing unhappiness, Journal of Consumer Marketing. DOI: 10.1108/JCM-05-2023-6026

Journal information: Journal of Consumer Marketing Provided by Binghamton University