Emotion and income occasionally make good bedfellows. According to a folks during financial site NerdWallet, 49% of Americans contend emotions have caused them to spend some-more than they can afford. That wears off a bit with age — 67% of Millennials (age 18 to 34) contend they get romantic and overspend, vs. 29% of Baby Boomers over 65 — though everybody can make terrible romantic decisions with money.
Of those who let emotions foreordain their overspending, 29% contend they overspend due to stress, 22% contend it’s since of fad and 13% contend it’s sell therapy to cope with sadness. Though 86% consider there are excusable reasons to go into credit label debt, roughly that many (87%) would be broke to do so.
In fact, many Americans contend they would feel terrible if they went into debt for any reason over covering puncture purchases (63%), medical losses (61%) and covering required losses during durations of stagnation (45%).
Tags: #life insurance