Time Perspective and Financial Health: To Improve Financial Health, Traditional Financial Literacy Skills Are Not Sufficient. Understanding Your Time Perspective Is Critical
This paper considers the influence of time perspective on financial health, hypothesizing that the influence on financial health of an understanding of time perspective would be much greater than would that of financial literacy. It elaborates on the relationship of each of three time perspectives to financial decision making and financial vulnerabilities. The implications of these findings are discussed in the context of financial literacy training which, while critical, is not sufficient to ensure a financially healthy life. Rather, such a healthy financial life could be achieved with a combination of financial knowledge and time perspective introspection.
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