Health

Nice people can run a greater risk of financial problems

Nice people can run a greater risk of financial problems

Nice people are at greater risk of bankruptcy and other financial hardships than those who are less satisfied, according to a new study published in the Journal of Personality and Social Psychology.

The findings show that comfortable people simply care less about money and therefore run a greater risk of mismanagement of money.

"We were interested in understanding or having a nice and warm personality, what academics in personality research describe as acceptable, related to negative financial results," said Sandra Matz, Ph.D., of Columbia Business School in New York and lead author.

"Earlier research suggested that acceptance was associated with lower credit scores and earnings, we wanted to see if that association applied to other financial indicators and, if so, better understand why nice guys seem to be the last."

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