Behavioral Economics

What is a widespread problem that many people face according to the video?

• Underspending

• Overspending

• Overworking

• Underworking

What can seriously wreck one's finances, especially their ability to save?

• Overworking

• Overspending

• Underspending

• Underworking

What is a suggested method to avoid coming home with no money left?

• Spend money on non-essentials

• Set up a certain amount of money for essentials

• Avoid making a budget

• Spend without thinking

What is a challenge in resisting overspending according to the text?

• Creating a realistic budget

• Investing in non-essentials

• Avoiding savings

• Resisting the allure of impulse purchases

What do some people neglect that leads to overspending?

• Their savings

• Their investments

• Their income

• Their debts

What is one way to prevent overspending?

• Making a budget.

• Spending more time shopping.

• Ignoring your expenses.

• Buying everything you want.

What is an example of a bigger goal you could set for yourself?

• Buying groceries.

• Saving for a vacation.

• Spending more time shopping.

• Ignoring your budget.

What can short term goals help you change?

• How you view money and how you use it.

• How much you spend on groceries.

• How much time you spend shopping.

• How much debt you have.

What is a benefit of setting short term financial goals?

• They help you spend more.

• They help you ignore your budget.

• They help you curb your spending habits.

• They make you buy more designer jeans.

What is one long-term financial goal mentioned in the video?

• Investing in the stock market

• Buying a new phone

• Going on vacation

• Eating out frequently