Gathergood and Weber's $(2014)$ work incorporates personal responsibility to explain the phenomenon of co$-$holding as an expression of a lack of self$-$control. Impulsive spending habits can be explained by overconfidence, personality, and a lack of self$-$discipline. There is no simple answer that fully explains co$-$holding. Financial education, financial literacy, soft skills, personality traits, and character defects are all important considerations in understanding why many people have costly credit card debt and low$-$yield liquid assets. Understanding the intricate relationship between financial education and personal choices is incredibly important, underlining the urgency of this research.