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A new study published in the October issue of the Journal of Personality and Social Psychology reveals that nice people are more likely to experience financial problems because they do not pay enough attention to their financial well-being.
Officials from the Columbia Business School and the University School London School of Management used the data to learn more about the savings, debts, negotiation styles, levels of acceptance and general opinions of money from the participants.
"We were interested in understanding or having a nice and warm personality – what academics describe in personality research as pleasantness – had to do with negative financial results," said Sandra Matz, lead author of the study, in a statement to the American Psychological Association.
"Earlier research suggested that acceptance was associated with lower credit scores and revenue, we wanted to see if that association was true for other financial indicators and, if so, better understand why nice guys seem to be the last."
Researchers have ultimately determined that individuals who are identified as "nice and warm & # 39; personalities are more likely to face money-related problems because they simply have economical financial negotiation styles and place less emphasis on money.
"We found that acceptance was associated with indicators of financial problems, including lower savings, higher debt and higher standard rates," said co-author Joe Gladstone. "This relationship seems to be driven by the fact that pleasant people simply care less about money and therefore run a greater risk of mismanagement of money."
But being nice, you do not necessarily have to be tied up for cash. Researchers noted in their findings that someone's income level played an important role in whether one is dealing with financial difficulties – which is perhaps a surprising conclusion.
"Not every pleasant person runs an equal risk of experiencing financial problems," Gladstone said. "The relationship was much stronger for people with low incomes who do not have the financial means to compensate for the adverse consequences of their pleasant personality."