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Needs, Emotions, Money, & The Connection

Picture of National financial educational council.

 

For most people, money managements closely tied to their emotions and emotional states. That’s because money has powerful effect on all human needs.
This topic presents Abraham Maslow’s Hierarchy of Needs theory, Robert Plutchik’s Wheel of Emotions theory, and how those theories relate to financial decision-making. The pleasure/pain principle is discussed in the context of personal finances.