So now, the researchers suggest that everyday consumers can apply these findings in their everyday life to actively work toward wealth growth. For instance, reshaping thought patterns and being aware of emotional states and recurrent behavior can all help you institute meaningful financial habits.
Additionally, the study also underpins the importance of remaining positive in the face of economic hardship and uncertainty. Taking control of your psychological reactions to such threats and ensuring that they do not impede your financial decision-making is crucial.
And moving forward, the team’s next research goal is to differentiate between the impacts of various forms of wealth.
“We would like to see longitudinal research investigating the effects of social capital, psychological capital, and financial capital on the relationship between human well-being and wealth creation,” Asebedo noted.
To read the study’s complete findings, visit the link here.
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