The OU’s Professor Mark Fenton-O’Creevy, together with fellow academics Professor Adrian Furnham and Dr Sophie von Stumm, reveal what they learned from the results. It's clear that there is far more to managing your money than just financial know-how.
Key discoveries:
• While financial knowledge is important, our emotions play a big part in how well we manage our money
• Money makes many people feel worried, guilty and anxious
• Impulse shopping can lead to disastrous financial problems
• If money makes you feel powerful you are more likely to encounter money problems, but if money makes you feel secure you are less likely to
• Being able to make ends meet is crucial for us to be able to manage our money well, more so than financial knowledge
• Attitude to money and financial success tend to improve with age, even more so for men than women
Read the results in full.
Find out more:
- Check out OpenLearn's You and your money
- Read Professor Fenton-O'Creevy's blog on emotional finance
- Professor Mark Fenton-O’Creevy
Posted: 20 March 2013
