The Interplay of Mental Budgeting, Self-Control, and Financial Behavior: Implications for Individual Financial Well-Being
Syed Atif Ali,
Sumaira Aslam,
Muhammad Ussama Majeed
et al.
Abstract:According to behavioral finance, people are not always rational in managing their finances. The financial stability of a person is directly linked with the spending style and pattern of the individual. This research investigates how mental budgeting influences financial behaviors and altogether financial stability, with a focus on the moderating effect of self-control. To explore this, we studied 294 people to see how mental budgeting affects their financial management and well-being, and how self-control play… Show more
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