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 Olin Business School at Washington University in St. Louis study finds consumers lack good strategies to reduce debt- Olin Business School at Washington University in St. Louis study finds consumers lack good strategies to reduce debt
- July 30, 2011
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Researchers examine how consumers manage debt portfolios, offer suggestions for optimal debt management decisions.
What's the best way to pay off debt?
It's simple. After making required payments to avoid penalties, pay down the loan with the highest interest rate. But consumers take a slightly different approach, according to a consumer behavior expert at Olin Business School at Washington University in St. Louis.
"Our research finds that people really like closing accounts," says Cynthia Cryder, PhD, assistant professor of marketing. "They will close a small debt account with a low interest rate at t...
- View more at: http://www.1888pressrelease.com/olin-business-school-at-washington-university-in-st-louis-s-pr-322811.html
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