Final answer:
The statement is true; the prefrontal cortex is involved in planning complex tasks such as future financial transactions, while the limbic system influences present spending behavior based on emotion and reward.
Step-by-step explanation:
The statement that the prefrontal cortex (rider) part of your brain is most involved in planning your future financial transactions and the limbic (elephant) part of your brain is most involved with how you spend your money in the present is true. The prefrontal cortex, which is part of the frontal lobe, is indeed responsible for executive functions which include planning, judgment, reasoning, and working memory. These functions are crucial in planning complex tasks such as managing future financial transactions. On the other hand, the limbic system is involved with emotion and reward, which can influence immediate spending behaviors.
Moreover, the prefrontal cortex is associated with personality, decision-making, and inhibiting distracting thoughts to focus on goals. It is the site in the brain where abstract reasoning, problem-solving, and evaluating risks and rewards take place, all of which are central to planning and directing behavior toward achieving goals, such as financial planning.