Blog

By E K Wills Why do so many people have such huge credit card debts? Financial gurus are always espousing the virtues of not going into debt so how is it that vast amounts are racked up on credit by people every month? Years ago, a study done by MIT researcher, Associate Professor Prelec, showed that when two sets of people were asked to bid in an auction using cash vs credit, about twice as much bidding was done by the credit card holders than those with cash. So even though