A recent study published in the Journal of Consumer Research by Derek Rucker and Adam Galinsky of the Kellogg School of Management at Northwestern University suggests that the cause of Americans consumer debt problems is low self esteem. The study found that individuals who felt powerless were willing to pay a premium for items [...]
Barack Obama called for revisions to the Republican-led bankruptcy reforms passed in 2005. The proposal focused on assisting individuals declaring bankruptcy due to debts related to health care/medical procedures, military personnel and their families facing debt due to extended deployment, frequent moves, or predatory lending, and protecting the elderly against losing their home in bankruptcy. [...]
An AP-AOL poll suggests that the need for a good credit report isn’t the only reason that one should stay on top of their financial situation. Americans with credit card debt are more likely to report health problems such as ulcers, severe depression, and heart attacks.
Research has suggested that chronic stress can [...]
