Being nice tied to financial hardship, study finds


Paella, the Best Way to Enjoy a Gastronomic Tour of Valencia

About everything
386 points

Monstera Deliciosa: This fruit either burns your throat or tastes like a tropical medley.

About everything
1144 points

Most recent

La psicología de espacios armoniza la convivencia con tu hogar

Image Press
8 points

Yingli Reconocida por el RECT como el fabricante de módulos fotovoltaicos de mayor calidad, confiabi

Juan C
16 points

Libmeldy, el medicamento más caro del mundo de aplicación contra la leucodistrofia metacromática

12 points

Asesinado un turista en Francia por masturbarse mientras miraba a una mujer en una playa nudista

16 points


pensamiento Libre
80 points

Desnudo, siempre.

El diario de Enrique
8 points

El fin de las OPS y el inicio de una dignidad laboral.

Pablo Emilio Obando Acosta
40 points

Segovia estrena Centro de Desarrollo Empresarial de ACOPI Antioquia y Gran Colombia Gold

Image Press
10 points

La OMS pide a los Gays que controlen su promiscuidad para evitar el avance de la "viruela del mono"

180 points

El Cambio Climático llegó a Londres: Arde Londres y los bomberos deben actuar con firmeza

14 points
When it comes to money, nice people really are more likely to finish last, a new study suggests.

Being nice tied to financial hardship, study finds

Researchers analyzed data from more than 3 million people and found that those who were nice were at increased risk for bankruptcy and other financial problems.


They just don't value money as much as other people do, according to the study published Oct. 11 in the Journal of Personality and Social Psychology.

"We were interested in understanding whether having a nice and warm personality, what academics in personality research describe as agreeableness, was related to negative financial outcomes," said lead author Sandra Matz, an assistant professor of management at Columbia Business School in New York City.

Other studies have linked agreeableness with lower income and credit scores, she said.

"We wanted to see if that association held true for other financial indicators and, if so, better understand why nice guys seem to finish last," Matz said in a journal news release.

Researchers tied agreeableness to indicators of financial hardship, including lower savings, higher debt and higher default rates.

Study co-author Joe Gladstone is an assistant professor of management at University College London. "This relationship appears to be driven by the fact that agreeable people simply care less about money and therefore are at higher risk of money mismanagement," he said.

But everyone who's agreeable isn't at equal risk of financial hardship. The association was much stronger for people who make less money.

"Being kind and trusting has financial costs, especially for those who do not have the means to compensate for their personalities," Matz said.

The study only found an association rather than a cause-and-effect link. Yet surprisingly, even when agreeableness was measured in childhood, it was still linked to more financial hardship later in life.

Also surprising was a comparison of publicly available personality and financial information from two areas in the United Kingdom with similar per-capita income levels. The city with higher scores on agreeableness had a 50 percent higher bankruptcy rate, the study found.

"Our results help us to understand one potential factor underlying financial hardship, which can have serious implications for people's well-being," Matz said.

To comment you must log in with your account or sign up!
Featured content