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Related Concept Videos

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According to some social psychologists, people tend to overemphasize internal factors as explanations—or attributions—for the behavior of other people. They tend to assume that the behavior of another person is a trait of that person, and to underestimate the power of the situation on the behavior of others. They tend to fail to recognize when the behavior of another is due to situational variables, and thus to the person’s state. This erroneous assumption is...
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Culture shapes how people approach attraction, choose partners, and build long-term relationships. While some preferences in mate selection appear consistent across cultures, such as men valuing physical attractiveness and women emphasizing financial resources, cultural contexts influence how these preferences are expressed and prioritized. Marriage extends beyond romantic ideals in many societies and is deeply embedded in social, economic, and religious frameworks.The Role of Culture in Mate...
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Chronic stress profoundly affects mental health, significantly influencing mood, behavior, and overall quality of life. Research closely links chronic stress with mental health conditions such as depression, anxiety, and substance use disorders. Ongoing exposure to stress can lead to physiological and psychological changes, initiating a cycle of emotional distress and maladaptive coping mechanisms.
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Related Experiment Video

Updated: Sep 25, 2025

Determining Gender-Based Differences in Retinal and Choroidal Thickness in Underweight Individuals via Swept-Source Optical Coherence Tomography
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Published on: December 1, 2023

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Overspending, debt, and poverty.

Anja Achtziger1

  • 1Zeppelin Universität Friedrichshafen, Germany.

Current Opinion in Psychology
|May 1, 2022
PubMed
Summary

Financial hardship negatively impacts life satisfaction and health. Psychology offers insights into causes, consequences, and interventions for overspending, debt, and poverty.

Area of Science:

  • Psychology
  • Behavioral Economics
  • Developmental Psychology

Background:

  • Financial hardship, stemming from overspending and debt, significantly reduces life satisfaction, well-being, and health globally.
  • Psychology provides crucial insights into the causes, consequences, and effective interventions for financial hardship and poverty.

Purpose of the Study:

  • To review recent psychological research on financial hardship.
  • To explore the psychological factors contributing to overspending, over-indebtedness, and poverty.
  • To examine psychological interventions for managing financial difficulties and escaping poverty.

Main Methods:

  • Literature review of recent psychological research.
  • Analysis of studies on developmental psychology and its impact on children.
Keywords:
Child developmentDebtsDecision-makingHealthImpulsivenessInterventionsOverspendingPovertySelf-controlViolence

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  • Examination of research on economic decision-making and behavior.

    • Main Results:

    • Financial hardship detrimentally affects children's development, behavior, health, and neurological growth.
    • Psychological factors significantly influence economic decisions and behaviors related to spending and debt.
    • Research has identified key psychological drivers of overspending and over-indebtedness, offering pathways out of poverty.

    Conclusions:

    • Psychology plays a vital role in understanding and addressing the multifaceted impacts of financial hardship.
    • Interventions informed by psychological research can help individuals manage debt, prevent poverty, and improve well-being.
    • Further research is needed to fully elucidate the psychological underpinnings of financial distress and develop targeted support strategies.