INEQUALITY & PERSONAL FINANCE: WHAT’S THE CONNECTION?
It might seem that research on income and wealth are far removed from issues of personal finance. In reality, however, you can understand each of these issues much better if you understand the other. That is, to understand who has income and wealth, it helps to understand the nuances of personal finance. Similarly, to be effective at personal finance, it can be really useful to understand the academic research on the behaviors and processes that affect how people deal with their money.