Personal finance: the influence of age in making financial decisions

Abstract

Individuals and companies are constantly making financial decisions aimed at optimizing resources in order to generate profitability. In practical management there is a connoted difference between business finance and personal finance, the former have been developed in greater depth than second. There are several theories of finance, classical theory states that individuals make rational decisions in a perfect market, neoclassical theory indicates that the economic behavior of the individual is in function of their own interests, currently studied the same neurofi- psychological aspects of the individual impact on financial decision making. Neuro finance among other aspects seeks to determine how? And when? the individuals change their perception of risk, so a cross-sectional investigation is presented in the EAP of the city of Macas that evidences the influence of the age in the financial decision making of the individuals with the purpose of determining the priority in the expenses that the people of the locality make as their age advances. The approach to be considered will be qualitative-quantitative, exploratory-descriptive methodological design; to obtain the information will be projected the Active Economic Population (PEA) of the city of Macas for the year 2016, sources of information will be used from primary and secondary sources, the first through surveys and secondary sources will be bibliographic reviews of previous research.