Key points

Understanding what factors impact decision making has important life consequences.

Experiencing financial scarcity takes a toll on cognitive functioning.

Knowing how poverty impacts cognition can help everyday people make wiser decisions.

The ability to make wise decisions is an important part of creating and living “the good life.” Key life choices have a substantial impact on our health, wealth, and happiness . Choosing to marry person A over person B could be the difference between a 40-year fairytale marriage or a nasty divorce . Likewise, deciding to invest money in company X instead of company Y could be the difference between experiencing financial freedom and failing to make ends meet.

The question is: What factors can improve the quality of our decisions?

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