Seriously indebted people can't think clearly enough to make good decisions—including decisions about how to get themselves out of debt. (Photo: Shutterstock)
Seriously indebted people can't think clearly enough to make good decisions—including decisions about how to get themselves out of debt.
That's part of the results of a study from the Social Service Research Centre at the National University of Singapore. A Newswise report on the study highlights the findings that relieving debt relieves mental stress, enabling people not just to feel better but literally to think better and improve their cognitive functions.
Researchers found that “Cognitive functioning significantly improved post-debt relief … The average error rate fell from 17 percent to 4 percent postrelief … Median reaction time improved from 1.86 to 1.27 s postrelief … [and t]he combined score rose from 6.29 to 7.54 postrelief.”
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
