Many people, even those with financial planners, have concerns about money. Behavioral finance became a field of study nearly 30 years ago, and its prevalence increased during the financial crisis in 2008.
With money’s ability to affect people physically and emotionally, people often need help maintaining a healthy attitude about money management.
Managing debt, paying for college, affording a home, and planning for retirement are just a few of the stressful situations people may face.
According to Debt.org, some of the emotional effects of debt include denial, stress, fear and panic, anger, and depression.
However, when you manage that reaction and believe money is something you’re in control of, you may become more financially successful.
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