Someone offers you £100 today, or £200 in the future. What?s the longest you?d wait for the extra money to compensate for the delay in getting the cash?
A typical answer, says Paul Webley, professor of economic psychology at Exeter university, is four months. Webley was speaking at a lunch in London hosted by the Communication Workers Friendly Society, which provides savings and insurance plans for those on low incomes.
?We have a savings crisis,? Webley says.
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