Wednesday, November 30, 2011

Lack of Memory and Happiness Leads to a Lack of Saving

Apparently my bad memory doesn't just hurt me when memorizing a phone number, it also hurts my impulsiveness:
Research has also shown that having a good short-term (or “working”) memory is associated with being able to project yourself into the future and plan for it, which is a prerequisite of saving. That’s partly because achieving a goal requires keeping it in mind.
And my recent transition woes aren't helping either:
He also finds that a squirt of the hormone oxytocin—known as the “love hormone” because of the role it plays in pair bonding and maternal behavior—makes people more patient: when people with a shot of the hormone are offered $10 now or $12 later, they are willing to wait 43 percent longer for that “later” to arrive (14 days rather than 10, for instance). “This tells us that people who are happier and have greater social support save more,”

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