The psychological poverty trap: How lack of money impacts decision-making, procrastination and loss of control
Published Date: 3/26/2024
Source: phys.org
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.