Archive | Psychology of Money

Controlling What We Can Control

Eight in ten Americans feel stressed about money, according to a survey by the American Psychological Association. Nearly 60 percent of respondents say they are concerned about job stability, while 50 percent say they are increasingly concerned about their ability to provide for their family’s basic needs. How are people responding to the stress brought […]

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Why We Feel So Bad

According to a CNN/Opinion Research Corp. poll, nearly 60 percent of Americans believe a depression is “somewhat likely” (38 percent) or “very likely” (21 percent). However, the CNNMoney.com article that reported on the findings noted that economists “generally don’t believe another depression is likely.” If “irrational exuberance” helped drive the market up, “loss aversion” may […]

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Happy Choices

Harvard Psychologist Daniel Gilbert was asked by the Washington Post for some suggestions on making choices that’ll make us happier in 2008. Gilbert said one mistake people often make is overestimating the negative impact of a bad decision, and that keeps us playing it safe. Got a dream? His advice is to go for it. […]

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Saving Advice From Those Who Know

Consumer Reports recently asked its retired readers what they wish they had done differently in preparing for their later years. Their biggest regrets had to do with their saving habits. Some 35 percent wish they had started saving earlier (only 15 percent started in their 20’s) and 30 percent wish they had saved more each […]

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The Psychology of Money

The science of shopping is a hot topic, with a number of journals helping marketers get inside the minds (and wallets) of their customers. A recent Chicago Tribune article summarized some of the recent research. “Shopping momentum” was the topic of a recent Journal of Marketing Research article. Researchers have found that the first purchase […]

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