Here are five psychological principles that could be behind your bad spending decisions. People who are willing to pause and consider the risks versus the rewards of a spending decision tend to have better spending habits. In the case of a business, for example, sunk costs might include machinery or equipment that was purchased. And, unfortunately, we sometimes make poor spending decisions based on money, time or effort spent in the past. But in terms of your spending, social facilitation might actually work against you.

Source: Huffington Post March 11, 2019 09:45 UTC