Psychological Concepts

Front

Hedonic Adaptation

Back

The tendency for people to return to a baseline level of happiness after experiencing a positive or negative life change.

Front

Loss Aversion

Back

The tendency to prefer avoiding losses over acquiring equivalent gains.

Front

Sunk Cost Fallacy

Back

Continuing a behavior due to previously invested resources (time, money, effort), even if it’s no longer the best decision.

Front

Herd Mentality

Back

The tendency to follow and mimic the actions of a larger group.

Front

Endowment Effect

Back

Overvaluing something simply because you own it.

Front

Confirmation Bias

Back

Focusing on information that supports your beliefs while ignoring contradicting evidence.

Front

Overconfidence

Back

The tendency to overestimate one’s abilities or knowledge.

Front

Fear of Missing Out (FOMO)

Back

The anxiety or worry that one is missing out on positive experiences that others are having.

Front

Savings Account

Back

Earns interest, designed for saving money.

Front

Checking Account

Back

Used for daily transactions; may not earn interest.