According to me economics define our day-to-day decisions and habits of purchase. Economics define our relation with money and assets that are added as wealth to one’s portfolio. Somebody who is having a large income and a habit of investing regularly in a timely manner, is usually going to have easier days in time of emergency of funds, rather than somebody who doesn’t invests or make assets that can be liquidated in case of emergency in future. This is just one aspect of seeing economics.
I think economics also well defines how people live their lives, a person who’s a regular investor in stock markets or any kind of mutual funds or maybe a partner in some company, will have a shorter work time in their 40s or above older days and usually people like this enjoy life without working too much, because they invested their fortune beforehand in their young ages and made this benefit of life for themselves and for their family.
But in contrast when we see a person who doesn’t invests and usually spend all income or wealth on useless no liquidatable assets then in their 40s and even in their 60s they will struggle to live properly or make a good lifestyle and most of their time will go towards working in offices.
So this is a part of economics how managing money well, makes our behavior’s better with money and how it affects a human’s day-to-day life.
Thanks for reading.