Being Optimist Means Being Financially Successful
Do you consider yourself an optimist? Have you ever thought that your attitude to life can influence your financial condition? Different studies show, that optimists more likely have their finances in order. Meanwhile, pessimists tend to carry a balance on their credit cards.
A professor of Duke University found out the connection between optimism and credit card management. The professor revealed this connection during many different studies and researches. He managed to prove that your way of thinking strongly influences your financial being.
It is a well-known fact that optimists live longer and happier than pessimists. It is just in optimists’ way to expect that they will live longer that the data tells they will. Finance professors Manju Puri and David T. Robinson estimated optimism by calculating the difference between person’s self-definition and statistical life expectancies based on age, gender, smoking and drinking habits, education, attitude towards risk and more.
The study showed that optimists strongly believe in future economic growth. Optimists tend to work harder and are likely to retire late. They work overtime more often than pessimists and are used to have savings. The researchers determined optimists as more responsible with finance than those who have a gloomy attitude to life.
According to the study, optimistic people are more responsible about credit card management. They make their own research of credit card market more often and usually manage to find the best credit card offers. People with positive attitude to life are more likely to pay off the balance every month. Optimists feel happy with their credit cards more often. They consider plastic cards as a good financial tool that help them make purchases and enjoy different services.
But researches warn that sometimes optimism can turn into a so called “extreme optimism”. The latest study showed that extreme optimists work a lot but they usually save less and tend to carry balances on their credit cards. Over 60% of people who inclined to extreme optimism, have bad credit history and more than 20% face bankruptcy.
The reason is extreme optimists are less responsible than other credit cardholders. Extreme optimists strongly believe that everything will be all right no matter whether they take pains to improve their financial position or do nothing. The research also revealed that extreme optimists tend to overlook monthly payments as they believe that it will do no harm to them.
Now you see the connection between positive attitude to life and financial condition. Researchers believe that positive thinking not only makes people happier but it helps them to avoid some financial mistakes. But try to strike the balance. Mind, optimism is like red wine: it is good when you take a little bit every day, but it brings lots of problems when you abuse it.
So, think positively. When you are sure in your financial future, keep track of your spendings and try to achieve all your financial aims step by step, you will surely be a success in credit cards.