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Personal Finance Psychology to Practice | Bryan Dunst | Food Blog
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Personal Finance Psychology to Practice by bryandunst | Jun 18, 2021 | Blog, Bryan Dunst, Finance
Finance psychology is the study of the mind towards saving, spending, and investing decisions. Financial decisions are tied down in mind and significantly impact an individual’s psychological health and wellness. Therefore, it is an area of concern affecting several individuals. Let us brush over some of the practices to adopt in personal finance psychology and the relationship between money and our mind.
Emotions play a huge role The emotions tied to money include guilt, shame, and envy. So, it is worth taking care of these emotions to avoid rational thinking. Shame is the most common emotion associated with cash. It is considered a reason for people avoiding what they know they should do. Some of the conventional shameful versions related to money are avoiding thinking about finances and not doing what you are supposed to be doing, like saving for retirement. Others include spending too much money or buying items when feeling unhappy and do not need the things. Shame works well with avoidance, and for this reason, an individual may find themselves procrastinating on financial issues, which ends up costing them so much. Other emotions https://bryandunst.com/personal-finance-psychology-to-practice/
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