Credit scores have become so central to our lives. They dictate whether we get the job offer we want, what insurance and loan rates we pay and whether or not we can get a credit card. But what is the likelihood that you can predict someone’s credit score based on their personality?
The Journal of the Association for Psychological Science reports that a study out of Stanford University and Columbia University says that you can predict someone’s credit standing based on how patient or impatient they are.
Those who are patient have significantly higher scores over time, regardless of income. The patient can delay gratification, while the impatient tends to be impulsive.
The whole idea of waiting to buy something until you can afford it may sound quaint, but it really lowers the level of stress in your life and gives you a better chance to survive during tough times.
If your natural personality is to be an impulsive person, try to consciously know that’s who you are and work to overcome it. Your finances will thank you.