New research is out show how social influences affect people. Your friends and social circle has a lot of influence over you. This could also affect how you spend your money. If your friends are money conscious you will want to fit in. If they are not, you will not be checked in your spending.

Many people that grow up in a certain place assume that that is the best place for them. The city or region you live in will have big impact on your money and how much of it you have. Sometimes moving 20 miles away from a major city will have a huge impact on how [...]