April 17, 2024

financial psychology

Financial psychology is the scientific study of the emotions and behaviors that underlie financial decisions. It encompasses the ways people plan, save, invest, borrow, spend, and donate their resources. By understanding the complex psychological factors that drive people’s decisions about money, financial planners, businesses, and policy makers can help people better manage their funds and achieve their financial goals. With the right knowledge, individuals can gain greater insight into their own habits and make smarter choices about their money.

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