Intelligence and Money
There's some good news for all of us non-Mensa members: A high IQ is not required for wise money management. As reported by ABC News and the Motley Fool, Ohio State University research scientist Jay Zagorsky has found that while people with higher IQs do tend to earn more, "there is no relationship between IQ scores and net wealth." In fact, something that often works against those of the smarty-pants persuasion, according to Zagorsky, is overconfidence. Some justify overspending with the assumption that they can always earn more.
Matt's View
After all of his considerable number crunching, Zagorsky concluded that one of the most important factors for building wealth is the habit of saving money each year. And it doesn't take a degree in rocket science to do that.
This article filed in: Saving
Managing Money by The Book
- "Therefore everyone who hears these words of mine and puts them into practice is like a wise man who built his house on the rock. The rain came down, the streams rose, and the winds blew and beat against that house; yet it did not fall, because it had its foundation on the rock." - Matthew 7:24-25
Recommended Resources
- Money, Purpose, Joy - Discussion Guide
- If you want to take your relationship with money to a whole new level, bring the subject into your small group. It can be scary to open up about money, at least at first. But the "Money, Purpose, Joy Discussion...…Read the rest
View All »