Study reveals that debt boosts self-esteem in young
June 8th, 2011 - 10:12 pm ICT by Aishwarya BhattNew York, June 8 (THAINDIAN NEWS) Who told you debt causes sleepless nights for everyone? A new study have found that instead of worrying about high credit card and educational debts, young adults rather feel empowered and confident seeing their debts rise through the roof.
The study was conducted by researchers led by a sociology professor at Ohio State University, Rachel Dwyer. The findings of the study were published in the journal Social Science Research.
Dwyer wrote that, “Debt is a resource that people can use to get the things that they want. Those are things that you might even consider an investment, like education.”
The scientists involved about 3,079 people in the study. The respondents were questioned during the survey and it emerged that those who came from middle-income-earning families felt confident with higher credit card. The researchers however found that the same was not true when it come to educational loans. Higher educational loans had little effect on that group of people.
Credit card debt and educational debt did not have any effect on participants who said they came from wealthy families. However age was a major factor because it was found that participants who were 28 years or older seemed to have reduced self-esteem when they are in debt.
- Self-esteem rises as people age but starts declining around retirement - Apr 02, 2010
- For young people, sex and paychecks come after self-esteem - Jan 07, 2011
- Shedding pounds won't help teens' self-esteem - Mar 23, 2012
- Study: Young people crave self-esteem more than sex - Jan 12, 2011
- Higher income, better health key to self-esteem - Apr 02, 2010
- Men aged 60 have highest self esteem - Apr 04, 2010
- Food in small packets make people eat more - Oct 28, 2011
- US lawyers' group warns of accumulated student loan debt - Mar 14, 2012
- How to stay away from old men: A new course for Chinese girls - Mar 31, 2011
- Obese people 'more likely to have mental health problems' - Jan 25, 2011
- Without dads boys go wild, girls unaffected - Nov 27, 2011
- Facebook can boost self-esteem: Study - Mar 06, 2011
- Youngsters prefer self-esteem over sex, money - Jan 07, 2011
- Brit pupils make more efforts for male teachers: Study - Oct 30, 2010
- Confronting sexism may be 'antidote' for workplace distress - Nov 30, 2010
Tags: 28 years, credit card debt, debts, education, educational debt, educational loans, ohio state university, participants, rachel dwyer, respondents, scientists, self esteem, sleepless nights, social science research, sociology professor, wealthy families, young adults