Financial behavior refers to the ways in which individuals and households make decisions about spending, saving, investing, and managing their money. This area of research examines the factors that influence financial decision-making, such as psychological biases, cultural influences, and economic circumstances. Researchers in this field seek to understand how people make choices about money and how these decisions impact their overall financial well-being. By studying financial behavior, researchers can develop strategies to help individuals and families make more informed and sound financial decisions.