Which of the following falls under the category of mind games,financial personality,and your money?
A)The sunk cost effect
B)Mental accounting
C)Viewing your tax refund as "mad money"
D)All of the above

Question

Quizplus · Accepted Answer

All three options- The sunk cost effect, Mental accounting, and Viewing your tax refund as "mad money" fall under the category of mind games, financial personality, and your money. 
The sunk cost effect refers to the tendency to continue investing in something simply because we have already invested in it, even if it no longer makes sense to do so. This can lead to a loss of money in the long run.
Mental accounting refers to the tendency to compartmentalize our money into different categories, such as a budget for groceries or entertainment. This can lead to inefficient use of our money, as we may overspend on one category while underspending on another.
Viewing your tax refund as "mad money" refers to the tendency to view a tax refund as a windfall to be spent freely, rather than the recovery of your own money that you loaned to the government interest-free throughout the year. This can lead to overspending and missed opportunities to save or invest the money for the long term.

Which of the Following Falls Under the Category of Mind