Pragma Synesi – interesting bits

Compendium of interesting bits I come across, with an occasional IMHO

Born into Debt: Gene Linked to Credit-Card Balances

“…The effect is almost as big as financial literacy…”

From Scientific American Mind –  August 12, 2010:

Born into Debt: Gene Linked to Credit-Card Balances

A recent study was the first to show that a particular gene affects financial behavior outside the lab

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August 20, 2010 Posted by | behaviour, decision making, genes | , , , | Leave a comment

How ‘minimum payments’ screw you

You could write a book on the myriads of subtle ways credit card companies extract every penny they can get from you, but this is a new one for me: people who wanted to pay part of their balance paid less when a minimum payment was shown on their statement. From The Economist print edition:

Credit cards

A nudge in the wrong direction

Dec 11th 2008

Minimum-payment requirements may be counterproductive

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May 24, 2009 Posted by | behaviour, decision making, economics, psychology | , , | Leave a comment