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What does his attitude to money say about a person

You may be surprised to learn that the chance of getting financial problems depends not only on how much the account is in your bank. Scientific research has shown that your psychological portrait also plays an important role.

Research of scientists

This study was based on the test results, which involved more than 100,000 people. The results showed that your attitude to money has a real impact on the risk of facing financial problems.

The test was based on a scientific survey of more than 100,000 people, conducted in cooperation between University College London, the Open University and BBC Lab UK.

Attitude towards money

The study found that there are four ways of how we treat money. It:

  • Money as energy (spender);
  • Money as an indicator of generosity;
  • Money as security;
  • Money as freedom (independence).

It has also been established that we are vulnerable to unhealthy ways of thinking about using money. The most common is the constant worry about how much you spend, buying things to feel better, and refuting your eating habits.

The study showed that attitudes toward money can affect the risk of financial trouble. If you treat money as a way to protect your life, this will help reduce the risk of financial problems. If the days for you are power, then the risk of encountering troubles rises. Having any bad habit also increases the risk of financial problems.

What else matters?

Age is an important factor. The study showed that young people are the worst in managing money, because they are less likely to plan ahead.

Sex also plays a role. Although the personality of a person is important, women tend to be more generous than men on average. In addition, they are more likely to make purchases to feel better, and worry about how much they have spent. For men, money in most cases means freedom and the ability to achieve goals.

But most importantly, do you have a good income and savings. They act as a buffer, which will allow you to stay away from financial problems.

The study was conducted by Professor Adrian Fernham of University College London and Professor Mark Fenton-O-Krivi of the Open University.

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