Understanding the Impact of Psychological Factors on Financial Spending: Tips for Responsible Money Management

2024-01-02 20:53:09

Tuesday / 20 / Jumada Al-Akhirah / 1445 AH – 23:52 – Tuesday, January 2, 2024 23:52

4 psychological factors directly affect a person’s financial expenses, and prompt him to spend money, according to the National Center for Mental Health Promotion. The Center explained that self-confidence plays a role in this aspect, as your feelings push you to spend money when you are with others, so remember not to exaggerate your spending. And each person has a different ability. Also among the psychological factors are positive feelings, as spending money gives you a temporary feeling of happiness, so limit your expenses and be sure to practice alternative activities to improve your mood. He pointed out that psychological health is a criterion for all an individual’s behavior, the most important of which is the motivation to spend. Money, so you should be careful to relax before going shopping or buying necessities. Psychological factors affecting spending money

  • Self confidence.
  • Positive feelings.
  • feeling guilty.
  • Your mental health.

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