Abigail Sussman

Abigail Sussman, a social psychologist at Chicago Booth, dives into her intriguing research on consumer financial behaviors, particularly co-holding savings and credit-card debt. She reveals that 20% of cardholders simultaneously carry debt while saving, a puzzling behavior that often reflects deliberate choices for financial security. The conversation explores mental accounting, where people separate payment methods, and highlights surprising preferences in spending. Sussman also discusses potential bank strategies to encourage smarter financial habits.

Have you had a recent surprise expense? You're not alone. More than half of American households report facing an unplanned financial shock in the last year. This week, in the second part of our new "Money 2.0" series, psychologist Abigail Sussman points out our blindspots around money, and how we can be smarter about spending and saving.If you like this show, be sure to listen to last week's episode on how our unconscious attitudes towards money influence how we manage our finances. Also, check out our new podcast, My Unsung Hero! And if you'd like to support our work, you can do so at support.hiddenbrain.org. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.