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50 years of research revealed: This is the secret to financial success!

byadmin
December 22, 2024

A comprehensive study conducted in New Zealand revealed that the strongest predictors of financial success are emotional intelligence and self-control. These skills, developed in childhood, directly affect success in adulthood.

A 50-year study in the town of Dunedin, New Zealand, showed that financial and professional success is more linked to emotional intelligence (EQ) than academic performance, professional connections or work ethic.
Since 1972, scientists have tracked the growth and development of a thousand children and determined that individuals with emotional intelligence develop better financial habits, focus on positive relationships and cope effectively with negative emotions.
According to the research, individuals with low EQ are at risk of earning lower incomes in adulthood, not being able to develop savings habits, experiencing credit problems and being dependent on social assistance.
In particular, in their 30s, this group is less likely to own a home or make financial plans for the future.
In this study, led by the University of Otago, children’s emotional intelligence and self-control skills were assessed at the ages of three, five, seven, nine and 11. These assessments, conducted with observations from parents and teachers, proved that self-control is a strong predictor of financial success throughout life. Researchers have found a strong correlation between a child’s ability to understand, regulate and respond appropriately to their emotions and their financial stability in adulthood.
The research emphasizes that EQ is not an innate trait but can be developed by parents and educators.
Emotional intelligence can be strengthened through empathy, open communication and problem-solving skills, a process that begins in early childhood.
Individuals with high EQ perform better in the business world, which increases their chances of getting a raise and promotion. In addition, these individuals are seen to be more successful in saving and developing long-term financial plans by managing their budget better. Emotional intelligence not only increases the financial success of individuals, but also helps them build a stronger and more sustainable future for society.
byadmin
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