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STEPHEN CRANSTON: Stress spending and your pocket
Stress spending is seen as a short-term solution, like drinking coffee to calm you down
Next time you get home and see your partner has bought a new iPhone or leather jacket even though times are tight, don’t be surprised to hear that the reason for the impulsive behaviour was stress, anxiety or depression. In a recent survey more than half those polled gave one of these as the cause of their actions. Granted, this survey was in The Washington Post, covering an area in which most people work in the federal government under US president Donald Trump. The Americans I have met over the years are often driven, highly strung people — even in happier times. But we can see our own attitudes in this survey of 1,000 people by Credit Karma, a credit-scoring business. For example, 23% of respondents say they have maxed out a credit card in the past year. I doubt the SA experience is much better. It also says nearly half the respondents say their personal finances are one of the primary reasons they are stressed out. In SA I expect that is closer to 90%. And 38% of respondents are...
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