Is Being Lonely A Financial Risk?

-(Telegraph) Loneliness is a risky business

New research shows that people who feel socially excluded take greater financial gambles, finds Anjana Ahuja

By Anjana Ahuja 8:23AM BST 24 Sep 2013

‘Money,” said Benjamin Franklin, “has never made man happy, nor will it; there is nothing in its nature to produce happiness.” Yet while money certainly doesn’t buy happiness, new research suggests that lonely people, perhaps unconsciously, regard it as a substitute for friends.

By looking at how people behave in the laboratory and in the real world, a series of studies has found that people who feel socially excluded tend to make riskier financial decisions than their popular peers. The effects are so marked, says the scientist who led these studies, that major financial decisions such as choosing a mortgage or pension should never be made in the wake of a major social upset, such as a relationship break-up or even a serious argument with friends.

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