Friday, August 2, 2013

How Your Friends Protect Your Bottom Line

How Your Friends Protect Your Bottom Line

roulette table

Feeling out of the loop? Watch your wallet. In a new Chinese study, people who felt lonely or isolated were 87 percent more likely to make a risky financial decision than those with social support.

People obtain essential resources like food, shelter, and companionship either from their personal relationships or from financial assets, says study author Rod Duclos, Ph.D. And so when you lack one of those, you tend to lunge for the other to fill the gaps in your life, he adds.

Even temporary feelings of social isolation—say, if one of your buddies blows you off this weekend—can trigger stupid monetary decisions, Duclos says. To protect your bottom line, spend a few minutes online looking through your own Facebook pics if you’re solo. So long as you avoid your friends’ vacation shots (which can trigger negative emotions like jealousy), you’ll actually feel happier and more connected, studies suggest.

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