Understanding and improving people's decision-making abilities so that they can more easily achieve the goals they set is the objective of:
A)Personal financial planning.
B)Behavioral finance.
C)Behavioral financial planning.
D)Finance.
E)None of the above.

Question

Quizplus · Accepted Answer

Personal financial planning and finance are focused on managing money and investments, but behavioral finance and behavioral financial planning specifically focus on understanding and improving the cognitive and emotional processes that influence people's financial decision-making. This includes identifying biases, emotional reactions, and other factors that may lead to poor decision making, as well as developing strategies for improving decision making and achieving financial goals.

Understanding and Improving People's Decision-Making Abilities So That They Can