Reported 5 months ago
Harvard professor Arthur Brooks suggests that bad money habits, rather than income, may be the root cause of financial stress for many Americans. He emphasizes that the biggest financial mistake people make is borrowing money for consumption, leading to unnecessary stress and unhappiness. Brooks advises against accumulating credit card debt or taking out loans for non-essential purchases, as these practices can hinder financial progress and overall well-being. He warns against the pitfalls of buy now, pay later schemes, highlighting the importance of avoiding unnecessary debt to achieve lasting financial happiness.
Source: YAHOO