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Reframing Thailand’s Debt Crisis: Five Self-Deceptions Driving Household Overspending
news
social sciences
A surge in household debt near 89% of GDP has heightened concerns about Thailand’s financial resilience. Behavioral economists identify five recurring cognitive traps that push families toward overspending. Understanding these mental shortcuts can help Thai households stabilize budgets and support broader economic health.
New evidence suggests overspending stems less from weak discipline and more from predictable biases that make imprudent spending seem reasonable in the moment. These patterns cross income groups and cultures, making them especially relevant in Thailand’s diverse economy.
#thailandhouseholddebt
#personalfinance
#behavioraleconomics
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