Scarcity Mentality - A mindset where individuals perceive resources, including money, as limited, leading to feelings of anxiety and fear about not having enough., Abundance Mindset - Contrary to scarcity mentality, it's a belief that there are plentiful resources available and that one can create opportunities for wealth and success., Emotional Spending - Making purchases based on emotional impulses rather than rational decision-making, often leading to overspending or buyer's remorse., Delayed Gratification: - The ability to resist the temptation of immediate rewards in favor of long-term goals, which is crucial for effective money management and financial success, Financial Anxiety - Feelings of stress, worry, or unease related to one's financial situation, often stemming from concerns about debt, income, or future financial security., Money Scripts - Deeply ingrained beliefs and attitudes about money that influence financial behaviors and decisions, often developed during childhood or influenced by cultural factors., Financial Self-Efficacy - Confidence in one's ability to manage and control financial matters effectively, which is linked to positive financial behaviors and outcomes., Wealth Mindset - A mindset characterized by a focus on building and preserving wealth through strategic financial planning, investment, and asset accumulation., Financial Resilience - The ability to bounce back from financial setbacks or unexpected expenses without significant long-term negative impact on one's financial well-being., Behavioral Economics - A branch of economics that studies how psychological factors influence economic decisions and behavior, including spending, saving, and investing., Hedonic Adaptation - The tendency of individuals to quickly return to a relatively stable level of happiness or satisfaction after experiencing positive or negative financial changes, such as a raise or a loss., Cognitive Biases - Systematic patterns of deviation from rationality in decision-making, influenced by factors such as emotions, social pressure, and heuristics (mental shortcuts)., Opportunity Cost - The potential benefit that is foregone by choosing one option over another, often considered in decision-making processes related to spending, investing, or allocating resources., Financial Therapy - A therapeutic approach that combines financial planning with psychological counseling to address underlying emotional issues and behaviors related to money management., Gratitude Practice - A habit of expressing appreciation for what one has, including financial resources, which can promote a positive mindset and reduce feelings of financial stress or dissatisfaction.,

Money Psychology

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