Behavioral Economics

Why Your Unconscious Brain Drives You Into Debt You Can’t Easily Control

Written by Steve Rhode

If you have not taken my online Money Personality Test you should do it. The test quickly helps show you what your money personality is and gives you a better understanding of how you look at money, credit, and debt.

People feel guilty when they don’t manage their money like people say they should. But this is not a snowflake statement, oftentimes they just can’t for a host of reasons that are not readily apparent.

Your relationship with money is based on a number of factors of which the least important is math. For example, how you were raised has a big impact. Did you grow up in a poor household, an addictive one, a home where everything was always available, or a home full of troubled relationships? It matters.

CNBC had a pretty terrific video segment recently on this very issue. It is worth watching if only to increase your own information that money troubles are not about the money.

CNBC said, “When it comes to debt, the average American owes $38,000. Experts believe it’s because people suffer from money disorders, which are actual psychological issues. CNBC explains these disorders and what can be done to treat them.”

READ  Dan Ariely and I Sit Down and Talk About the Behavioral Economics of Getting Out of Debt



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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