The Tendency to devalue rewards and benefits that are set to occur in the future compared to those available immediately.

Simple ,efficient rules or mental shortcuts used to make decisions or solve problems quickly.

A field of Economics that studies how psychological, emotional, and social factors impact economic decision-making and behavior

The process of making choices about how to allocate resources or manage finances, including budgeting, investing, saving, and spending.

The timeframe over which financial plans or goals are set and evaluated.

A theoretical approach where individuals make choices that maximize their utility based on complete and accurate information, consistent preferences, and logical reasoning.

These refer to the positive and negative changes in wealth or utility resulting from economic decisions

The Process of Identifying and evaluating potential risk and uncertainties in economic decisions.

The understanding and ability to effectively use various financial skills, including budgeting investing and managing debt.

The tendency for individuals to follow the actions or decisions of a larger group, especially in financial or economic contexts.

A personal objective or target related to managing money, such as saving for retirement or purchasing a home.

A cognitive bias where people tend to search for, interpret, and recall information in a way that confirms their preexisting beliefs.

The tendency for individuals to value an asset more highly simply because they own it, regardless of its objective value.

The process of setting aside a portion of income for future use, such as emergencies or large purchases.

A mental shortcut that allows people to solve problems and make judgments quickly and efficiently, often leading to systematic errors.