Psychology of Money 💰

Psychology of Money 💰

Financial stress is one of the major stressors. According to American Psychological Association, the number one stressor in people’s lives is money, above work, health, and children.
APA talked about United States but if we talk about Pakistan, the country has been facing so many challenges as a third world country on social, political and economic levels.

To top it off, research shows Covid-19 crisis as a career shock for many individuals and how it has impacted so many people’s economic conditions. Pandemic has impacted financial conditions globally and it becomes the need of the hour to explore how to survive the financial challenges. With that, Covid 19 where it brought most of our lives virtually, it gave us a glimpse into what life would be like with artificial intelligence which is the future.

Even before Covid, ‘What will be our economic future in the time of AI’, was the topic everyone was talking about in the global community. Yuval Noah Harari asks to ‘Reboot for the AI Revolution’ and research shows ‘As artificial intelligence puts many out of work, we must forge new economic, social and educational systems. Many are talking about what our academic policy will be regarding sustainability and artificial intelligence (AI). Even schools in Pakistan have incorporated learning to ‘code’ in the schools such as The Lab School and L2L in Karachi.

In this climate, we wanted to research if there is anything that the field of psychology can contribute to making financial conditions better for our country. Are there any psychological factors that contribute to financial health? Is there evidence for that? Is there any way financial health can be improved? that could help individuals brace for the impact the technological revolution is bringing
Share your thoughts in the comments.

Fatima Tu Zahra
Meet the author / Fatima Tu Zahra

Psychologist

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