Harvard professor Arthur Brooks emphasized curbing bad spending habits for financial happiness.
Brooks noted that rising credit card debt is affecting the financial well-being of many Americans.
AdvertisementBestselling author and Harvard professor Arthur Brooks believes that achieving financial happiness isn't solved by chasing extra income but by curbing bad spending habits.
AdvertisementBorrowing for consumption is the most damaging financial habitBrooks pointed to the recent rise in credit card debt as a factor that affects many people's financial happiness.
Credit card debt has become a crisis in the US following the pandemic when many Americans used up their savings.
Persons:
Arthur Brooks, Brooks, —
Organizations:
Service, Harvard Kennedy School, Harvard Business School, JPMorgan Chase, JPMorgan Chase Co