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Financial dependency, within the realm of personal finance and psychology, is a situation in which one person becomes reliant on another individual or entity for financial support, often to an extent that hinders their ability to manage their own finances independently.
It is a form of abnormal psychology that can lead to more common mental health diagnoses, such as depression, anxiety, and insomnia. [11] [15] Individuals with sudden wealth syndrome often lose their fortune quickly after receiving it. [16] The severity of sudden wealth syndrome is dependent on the individual and their financial circumstances.
An example of mental accounting is people's willingness to pay more for goods when using credit cards than if they are paying with cash. [1] This phenomenon is referred to as payment decoupling. Mental accounting (or psychological accounting ) is a model of consumer behaviour developed by Richard Thaler that attempts to describe the process ...
Further problems can include ruined credit history, theft or defalcation of money, defaulted loans, general financial trouble and in some cases bankruptcy or extreme debt, as well as anxiety and a sense of life spiraling out of control. [53] The resulting stress can lead to physical health problems and ruined relationships, or even suicide. [54]
In psychology, stress is a feeling of emotional strain and pressure. [1] Stress is a form of psychological and mental discomfort. Small amounts of stress may be beneficial, as it can improve athletic performance, motivation and reaction to the environment.
This is an accepted version of this page This is the latest accepted revision, reviewed on 6 January 2025. The following is a list of mental disorders as defined at any point by the Diagnostic and Statistical Manual of Mental Disorders (DSM) or the International Classification of Diseases (ICD). A mental disorder, also known as a mental illness, mental health condition, or psychiatric disorder ...
“For example, ‘I hope your test went well. I know you studied hard for that,’ or ‘What a beautiful day today. I hope you had fun at recess.’” ...
Anticipated pain of payment is “the negative psychological affective reaction consumers experience when they become cognizant that they will or may lose a certain amount of their financial resources in the future.” [4] These new definitions consider that pain of payment can be experienced both after and before making payments, can be ...