The way we think about spending and saving is frequently irrational. For example: The more something costs, the more careless we are about saving money on it compared with smaller purchases. But why? Psychology and neuroscience have some answers. While we may think we’re in control of our financial decisions, psychology lecturer Claudia Hammond says research shows we’re wired for certain behaviors toward money—some of which can hurt us. But she says learning about these tendencies can help us take back some control. Understanding the psychology of money and how science can teach us to make better financial choices.
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