Behavioural Finance is an upcoming field of study in financial sector. It is about the impact of emotional aspects of Human behaviour in making financial decisions whether on a personal or organization scale.
For example: Say you earn Rs 100 today and on the way back home you find a book for sale on a street shop. The price of the book is Rs 100., you may decide not to purchase or atleast think twice before going for the same. On the otherhand, if you received Rs 100 that day in the form of a gift or picked the note lying on the stranded streets, then your chances of disposing this money to purchase that book is on the higher side.
Thus our decisions on the money we control varies on basis in which we have accrued. Hence the statement...
A Good Project Manager may make Right financial decisions while utilizing his organizations funds, but may fail while handling his household budgets.
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