Take the money now or later? Financial scarcity doesn't lead to poor decision making, says study

American Psychological Association study says scarcity doesn't lead to poor decision-making.

People only prioritize short-term benefits over long-term gains when scarcity threatens their more immediate needs.

Research challenges the predominant view that when people feel poor or live in poverty, they become impatient and shortsighted.

The results also have implications for what types of interventions are likely to help people make better long-term decisions.

"Understanding experiences of scarcity is critical, particularly as factors in society—climate change affecting water and food supplies, inflation impacting cost of living and more targeted forms of advertising increasingly manufacture perceived needs.