It might seen like an untimely question amid the current financial turmoils of the credit crunch, but isn't it about time you treated yourself to something really, really expensive? A Swiss watch, perhaps, or a five-star holiday?

However, a new study by two business school marketing professors has found that opting instead for the cheap, plastic watch or for staying at home might save you money now but at the expense of future regret.

We all know that people can be too impulsive and yield to temptation. Our argument is that people can also be too farsighted, or hyperopic. As a result, they have wistful regrets of missing out on life's pleasures when they look back at how they spent their time.

Yes folks, They're serious.