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.
- 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