ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Self-control strategies are a form of self-management that can make goal-consistent choices more likely while reducing the need for willpower to resist temptations. For example, people tend to spend less money if they make the purchase with cash rather than a card [6–8].

Detailed explanation-2: -Setting goals to exercise regularly, eat a balanced diet, be more productive, give up bad habits, and save money are just a few actions requiring self-control. More examples of self-control include: Avoiding social media when you are at work so that it doesn’t hurt your productivity.

Detailed explanation-3: -People with good self-control are more likely to save money from every pay-check, have better general financial behavior, feel less anxious about financial matters, and feel more secure in their current and future financial situation.

Detailed explanation-4: -Make one financial decision at a time. Track your spending. Save automatically. Avoid temptation. Ask for support.