There are a number of different influential factors in our lives that impact our financial decisions. . By understanding some of these factors (personality and emotions, past life experiences, physical and mental health, culture and society where you live, financial knowledge), you can learn a little bit more about yourself so that you are equipped to make better financial decisions. Students will answer the question: What are some of the ways these factors have influenced your financial decisions?

Ever wondered why we act the way we do and make the choices we make? Abraham Maslow, an American psychologist believed that our actions and hidden desires are driven by a series of needs, which he organized into a pyramid. According to Maslow, our most basic needs, like food, air, and water, are the ones we need for our basic survival. So, our primary motivation is to meet these survival needs first. It does not matter how much money you have or how fancy your house is if your hungry and homeless. Once we have these fundamental needs covered, that’s when we can start focusing on our “higher order” needs.