Too little money, too much borrowing

By Patrick   Follow   Sun, 4 Nov 2012, 9:26pm PST   200 views   0 comments   Watch (0)   Share   Quote   Permalink   Like   Dislike,_too_much_borrowing?

Scarcity of money, time, food or anything else focuses the mind on immediate concerns and discourages taking a broader perspective. This scarcity mindset helps to explain why poor people often save too little and borrow too much, and it presents policy makers with an opening to encourage better financial decisions among low-income individuals, a new study concludes.

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