Where Does Behavioral Economics Fit into the Traditional Financial Planning Scheme
Have you ever heard about behavioral economics in the past? It is a subject that is taught at universities across Coventry, UK and abroad. The subject is an extremely interesting one, looking at all of the different factors that come into play about economic decisions. These decisions are those made by individuals with things they experience daily, impulse opportunities that present themselves.
Understanding where behavioral economics fits into the traditional financial planning scheme we have all been made aware of for years is where Money on the Mind comes into play. The blog touches on all of the cognitive, emotionally as well as cultural and social factors that drive individual economics decisions. Breaking all of this down in a way you can easily understand can help shed light on individuals on problem areas with their financial literacy.