"In the United States, talking about money is harder than talking about sex," says Marian Friestad, Ph.D., professor of marketing at the Lundquist College of Business at the University of Oregon and past president and fellow of the Society for Consumer Psychology.Friestad
says that the survey answers indicate the deep connection between our financial lives and our view of ourselves.
"Our relationship to money is complex, and often a love-hate relationship," says Friestad
says that Bankrate's findings jibe with a general psychiatric principle often called the "third-person effect."
"It comes from research on consumer perceptions of how ads and marketing affect people," describes Friestad
"People say, 'I'm not influenced by ads, but everyone else is.' And everyone says that, which is inconsistent.There is a sense that we make perception errors, that we understand our own situation and tend to think of the rest of the population as having more problems or being more susceptible to mismanaging their finances."
While it is easy to write this off as simple denial, Friestad
says it's more than that.
"We understand our own behavior as being very complex and situational," says Friestad