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(Dr. Dan Geller) |
Guest Post: Dr. Dan Geller the Behavioral Finance Scientist
People will repeat the same six financial habits each time
the economy goes through a cycle.
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The study found that people "orient" themselves to
the state of the economy by repeating six financial-behavior patterns - three
related to their spending and three related to their savings. Each financial
behavior pattern corresponds to the stage in the economic cycle, i.e.
recession, recovery , expansion and decline. Here are the six financial habits: