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Definition of Behavioral Finance Behavioral finance is the study of how our emotions, habits, and quirks influence our financial decisions. In a perfect world, people would invest, save, and spend based on facts and logic. But we don’t—we’re human. We tend to follow the crowd, panic when markets dip, overspend when we’re stressed, and cling to bad investments because we “feel” they’ll bounce back.

A housing allowance is a financial benefit granted to clergy members and military personnel, designed to cover housing-related expenses.