Taylor: Scarcity makes our brain focus — but impairs long-term financial planning

Taylor: Scarcity makes our brain focus — but impairs long-term financial planning

1of2A woman holds a bag of pears as she waits in line at a food bank. Research shows that the financial scarcity focuses the mind. But that increased focus comes at a cost. By tunneling our vision on some things, we lose the ability to deal rationally with others.Photo: Justin Sullivan /TNS file photo When we talk about making good financial decisions over a lifetime, we often assume they flow from a combination of willpower and knowledge. Essentially, as long as our brain is screwed on tightly, we can do this. Good decisions follow.

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