Why you feel richer or poorer than you really are

How wealthy we feel also depends on what form of wealth we’re focused on. One particularly potent indicator is checking-account balance, which seems to sway subjective wealth more than any other type of asset. .

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In one study, Gladstone had a large U.K. bank email financial surveys to some of their customers, and then compared the customers’ survey responses with their transaction history, income, and savings data. Even controlling for factors like total account balances, income, and spending, Gladstone found that having cash in your checking account was associated with greater perceived financial security and well-being than storing it in less visible places