News From the Field
Who's Wealthy? Beyond Net Worth, Asset and Debt Levels Change Our Perceptions

January 10, 2012

Will borrowing money to buy a new car make you feel richer? It depends on your net worth, says a new study in Psychological Science, a journal published by the Association for Psychological Science. "People's perceptions of wealth vary not only as a function of their net worth, but also of the amount of assets and debt they have," says Princeton University psychology graduate student Abigail B. Sussman, who wrote the study with Princeton professor Eldar Shafir. Full Story

Source
Association for Psychological Science

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