Lifestyle & Hobbies

Psychology of Money: How Our Emotions Affect Our Finances

Money, an essential aspect of our lives, goes beyond its tangible form. It holds a deep connection with our emotions, influencing our financial decisions and shaping our financial well-being. In fact, a study performed by Nobel Prize-winning psychologist Daniel Kahneman found that we make financial decisions based 90% on emotion and only 10% on logic. Financial therapist and wealth counselor Marilyn Wechter further illustrates this through philanthropy. “Philanthropy isn’t just a strategy to reduce your tax liability, but a wonderful