It is not only common sense and knowledge that determine how we spend our money. Here are some findings that were made in a study.

money

  • While financial knowledge is important, our emotions play a big part in how well we manage our money
  • Money makes many people feel worried, guilty and anxious
  • Impulse shopping can lead to disastrous financial problems
  • If money makes you feel powerful you are more likely to encounter money problems, but if money makes you feel secure you are less likely to
  • Being able to make ends meet is crucial for us to be able to manage our money well, more so than financial knowledge
  • Attitude to money and financial success tend to improve with age, even more so for men than women

Read more at BBC.com