The psychological poverty trap: How lack of money impacts decision-making, procrastination and loss of control

Lack of money impacts how a person takes financial decisions: now or preferably later. Procrastination and avoidance behaviors in turn have an effect on lack of money, which can result in a sense of loss of control. These are the findings of psychologist Leon Hilbert in his Ph.D. research, although the effects are different in every culture.

This article was originally published on this website.

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