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Is It All In Your Head? How Your Beliefs About Money Influence Your Financial Behavior, Patricia T. Gouveia
Is It All In Your Head? How Your Beliefs About Money Influence Your Financial Behavior, Patricia T. Gouveia
Association of Marketing Theory and Practice Proceedings 2020
Is It All in Your Head? How Your Beliefs About Money Influence Your Financial Behavior
Patricia T. Gouveia
Florida International University
ABSTRACT
Research suggests that many consumers struggle with financial decision making. According to the Federal Reserve (2018), Americans accumulated a staggering $1.027 trillion in revolving credit in 2017 and one-quarter of the non-retired population reported having no retirement savings or pensions. This data underscores the importance of academic research that sheds light on the factors that might impact consumer financial behavior, such as savings, investing and budgeting. To fulfill this goal, the present research examines how expectations of social …