Are You Optimistic About Your Credit Card Deal?
12/21/2007 | Understanding Credit Cards
Are you an optimist by nature? Have you ever wondered how your temper can affect your financial status? The scientists have found out that optimists, as a rule, cope with financial difficulties better than pessimists. Small wonder, you say? But would you believe that your credit card management type depends on your spirits?
Professor of Duke University has discovered that there is a connection between your credit standing and your mood. According to his hypotheses, optimists carry fewer balances on their credit cards than pessimists. He carried out numerous researches and polls that prove this theory.
Science provides evidence for the fact that optimists live a happier and longer life than pessimists. David T. Robinson and Manju Puri, Professors of Finance, worked out a formula for estimating people's optimism level. It is pretty simple. They just counted how long this or that person is likely to live. For that they took into account such factors as gender, age, state of health, drinking and smoking habits, and so on. If a person named a longer date, he or she was considered to be optimists.
Optimists, as the survey shows, work harder, work extra hours, thus, they are more likely to earn more and save more. They try not to think that their retirement day may come. They look forward, hope for the best, and see their financial and other aims in life more clearly than pessimists do.
Optimists are positive; they always strive to make headway, they are well-organized, responsible, and disciplined in money matters. That is why they tend to pay off their balances in full every month strictly on time. The statistics shows that pessimists get into debts easier and it is harder for them to recover their self-possession in order to get out of a debtor's prison.
A pessimist regards credit cards, even the best credit cards, as a source of a possible debt. While an optimistic person strongly believes that credit cards are a great and very convenient tool that helps them in their financial life a lot. They are inclined to make more credit card deals with rewards programs, such as gasoline credit cards, hotel rewards cards, cash back credit cards, etc.
The experts explain this fact in the following way. Optimistic people are not afraid of higher interest rates; they are certain that they will make enough money to pay off their balances. And optimists find rewards credit cards to be another positive thing in their life.
But, according to that very study, being too much of an optimist is even worse than being a pessimist. Such people often carry balances on their cards, save less money and are not that industrious. Even more surprising that over 60% of too optimistic people have bad credit score and about 20% file for bankruptcy!
The major difference between a regular optimist and an "over-optimist" is that the first one believes in a better future and take pains to make their dreams come true. The latter just breathes easy, believes that everything's gonna be all right, no matter if he or she does something for that, or just let the grass grow under their feet.
So, you see, positive thinking can become nearly a panacea from your financial problems. People say that our thoughts are material. And this survey proves this. So cheer up and full speed ahead to optimism! But be careful, and do not get into positive, or better to say, careless thinking too much. Find your golden mean and your financial issues will no longer be a problem for you, your money will only brighten your life with their green shimmering!
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Comments
andy, 08:00 AM, January 09, 2008
hmmmmmmm not sure. it's not so much a psychology thing. it's rather all about your own responsibility and conciousness...
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