Imagine you want to buy a furniture set and a vacation. Which one would you be more willing to go into debt for? If you’re like most people, you probably think you’re more likely to borrow for the set of furniture. It’s practical, long-lasting, and “worth” using debt. But it turns out that this perspective only explains borrowing in a small minority of situations.

The one important factor that fundamentally shapes people’s <a href=”http://www.marketwatch.com/story/millennials-are-financing-everything-from-bed-sheets-to-concert-tick…
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