The '90s are Back and So Are Your Savings

The '90s are back, and the nostalgia of it all may help your savings account. Kristen Wong, Freelance Contributor at Lifehacker and Author of "Get Money," joins Your Cheddar to explain a study done to understand the relationship between nostalgic, happy memories and financial decisions. In the study, there is evidence to suggest that financial beliefs and behaviors can be impacted by emotionally charged experiences and can elicit specific emotions, such as a memory from childhood. People in the study were put through immersive, emotion-based exercises designed to evoke positive memories and feelings around their nostalgic items. So how did financial behavior change? They showed a readiness to save and a confidence in the ability to save more. Plus, how your parents handled money most likely impacted the way you now view finances. Wong talks about the different types of "money personalities" and how to handle each one.
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