Consumer Financial Behavior

Consumer financial behavior refers to how individuals make decisions about their money, including spending, saving, investing, and borrowing. This behavior is influenced by factors such as personal goals, financial literacy, cultural background, emotional responses, and social influences. Understanding these behaviors helps businesses tailor their offerings, while policymakers can design better financial education programs. Ultimately, good financial behavior can lead to improved financial health, helping consumers manage their resources effectively and make informed choices that enhance their overall well-being.