Report5 September 2017Updated about 24 hours ago

Why psychology matters when it comes to money

Knowing more about money doesn't necessarily mean you'll manage your money better. Our survey finds psychology matters a lot too

Executive summary

Beyond Financial Literacy: the Psychological Dimensions of Financial Capability is a survey conducted as part of the Think Forward Initiative.

Our research finds the way people handle their money is not just related to their financial literacy, i.e. knowledge about financial concepts, but also to various psychological aspects. 

Factors such as your optimism, impulsivity, and your worldview about whether your life is dictated by your internal actions or external factors all have an impact on your financial capability.