Anchoring is a psychological phenomenon where individuals rely too heavily on the first piece of information encountered when making decisions, which can negatively impact budgeting and spending choices.

Authors

• Person: Not available Organization: North American Company
  Factors that can affect financial decision-making - North American

Sources

• Factors that can affect financial decision-making - North American www.northamericancompany.com North American Company via serper

Referenced by nodes (1)

• anchoring concept