The Pain of Spending

Experts in the field of behavioral finance have done much research on the emotional reasons why people are savers versus spenders. Being a saver is typically good for your financial security, but it may come with some emotional baggage. People who save may not just be savers, but may also have an aversion to spending to the point that it can evoke dread, emotional pain, and regret when they make a purchase. In the world of behavioral finance this person would be categorized as a tightwad. This trait is different than frugality as those who are frugal tend to make better use of resources to make themselves feel positively. Alternatively, those who feel badly when they spend avoid it due to th

Archive
Search By Tags
 

If you would like to learn more about West Financial Advisors, LLC or any of our firm's blog posts, please visit our home page or contact us directly. 

2020 West Financial Advisors 
  • Facebook
  • Twitter