Findings of a new study have showed that incentives could play a vital role in driving a person to quit smoking. Many ways are tried by smokers to quit the habit, but not all of them work.

However, what if a technique that involves money helps them quit the habit. Well, this is exactly what a study has showed, highlighting it’s possible for smokers to quit smoking when their own money is involved. The study saw that smokers who had invested $150 were more likely to give up smoking than the smokers who didn’t have to spend any of their own money.

According to Dr. Troyen Brennan, study co-author, financial incentives could be a powerful motivator for smokers to quit and it is something the study has clearly showed. Halpern added, “This study is one of the first to compare incentive programs that first require deposits and programs that entail pure rewards to promote healthy behaviors. The results are fully consistent with the behavioral theory that people are typically more motivated to avoid losses than to seek gains”.

The study was conducted by CVS Health Research Institute in collaboration with Perelman School of Medicine at University of Pennsylvania. The researchers looked in 2,538 cases and came across some interesting trends.

The researchers offered an $800 incentive as a financial reward to smokers to give up smoking, but the success rate was higher only amongst those who made a non-refundable deposit of $150 out of their own pockets to fulfill the eligibility criteria for the same $800 incentive.

The study has supported the belief that people are typically more motivated to avoid losses than to seek gains.