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SUMMARY:Expenditures and financial well-being 
DTSTART:20160304T103000
DTEND:20160304T120000
DTSTAMP:20260510T031915Z
UID:0646461247f55a0229235d847ceaedaa6f7a468d8df092ca6de9eb4f
CATEGORIES:Conferences - Seminars
DESCRIPTION:Francisco GOMES (London Business School)\nWe provide evidence 
 that the most frequent reason for a deterioration in households’ financi
 al situation is higher expenditures\, while improvements in their finances
  are usually due to increases in earnings. We show that the expenditure in
 creases are persistent and linked to: (i) fluctuations in the prices of go
 ods that make a large proportion of households’ budget: food\, energy\, 
 mortgage payments\; (ii) life events: birth of the first child\, divorce\,
  health changes\; (iii) emotions: feeling depressed\, inability to face pr
 oblems\; and (iv) behaviors: saving\, use of expensive debt. A worse finan
 cial situation reduces psychological well being\, which in turn increases 
 the probability of a further deterioration in the finances. Good financial
  management can reduce the probability of this happening. Our results high
 light the importance of expenditures as a source of background risk and of
  expenditure management in financial education.
LOCATION:UNIL\, Extranef\, room 126 https://planete.unil.ch/plan/?local=EX
 T-126
STATUS:CONFIRMED
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