Mental accounting is a bias where people categorize money into different accounts, such as savings or spending, and evaluate them separately, which can lead to poor financial decisions like spending windfalls instead of saving for long-term goals.

Authors

• Person: Dr. Dawn M. Carpenter Organization: LinkedIn
  Mind Over Money: Behavioral Economics and Financial Decision ...

Sources

• Mind Over Money: Behavioral Economics and Financial Decision ... www.linkedin.com Dr. Dawn M. Carpenter · LinkedIn via serper

Referenced by nodes (2)

• spending concept
• savings concept