The goal of “saving more” is abstract, writes the Wall Street Journal but “saving for a trip to Rome isn't”. It advocates having several, small bank accounts each targeted at a specific goal. It taps into the idea of mental accounting - or the way we tend to budget separately for food, shelter, transport and other expenses.
Who counts as “rich”, asks the New York Times. Findings for the United States from market researchers Gallup say the median response was that a person needed to earn $150,000 (about €120,000) to be rich – but that expectations depend on where people live (big city dwellers have a higher “rich” threshold) and if they have children (parents have a higher threshold). An earlier eZonomics poll says “people tend to only consider themselves rich if they earn more than people around them”.
There may be a link between impatience and a bad credit score, writes US News. It cites research on the topic and says the theme is one of “delayed gratification” – or being willing to deny some pleasure today to “reap greater rewards later”.
