The GuardianThe Guardian

Eight reasons you make bad financial decisions

By Patrick Collinson

30 May 2015 · 8 min read

Millions of people make terrible financial choices every day. Here’s why

  • You are poor, tired and worn out Why does anyone take a payday loan at 4,000% interest? Or pay £800 for a television from “rent to own” firm BrightHouse rather than buying it for £350 from John Lewis? Why buy junk food when it’s cheaper to cook at home, or waste £10 a week on lottery tickets when the money could be used to pay off debts?

Sign in to informed

  • Curated articles from premium publishers, ad-free
  • Concise Daily Briefs with quick-read summaries
  • Read, listen, save for later, or enjoy offline
  • Enjoy personalized content
Or

LoginForm.agreeToTerms