360° Coverage : Northwestern MutualVoice: Understanding Your Financial...

2 Updates
Northwestern MutualVoice: Understanding Your Financial Personality Is Key To Good Financial Choices
Photo Credit: Forbes Business

Northwestern MutualVoice: Understanding Your Financial Personality Is Key To Good Financial Choices

Apr 29 2014, 8:03am CDT | by

Have you ever made an irrational financial decision? And later, did you wonder what drove that decision? Turns out, the choices you make are a reflection of your financial personality. “Everyone has...

Filed under: news

 
 
 

20 weeks ago

Northwestern MutualVoice: Understanding Your Financial Personality Is Key To Good Financial Choices

Apr 29 2014, 8:03am CDT | by

Have you ever made an irrational financial decision? And later, did you wonder what drove that decision? Turns out, the choices you make are a reflection of your financial personality. “Everyone has a financial personality,” said Michael Sheppard, CFP®, Northwestern Mutual regional director of financial planning. “And when you understand your financial personality, you’ll be better positioned to achieve your financial goals.”

The concept of understanding your financial personality is part of a relatively new field called Behavioral Finance. It combines psychology with economics to better understand why people make mistakes with their money, in order to help them make smarter financial choices.

So, null? Sheppard says start by taking cues from other areas of your life, such as your commitment to exercise.

  • Are you disciplined about exercise, or might you benefit from the motivation of a personal trainer?
  • Are your fitness goals specific enough, or might you benefit from a more detailed exercise plan?
  • Are your fitness goals too lofty? You don’t need to run a marathon during the first week.

By understanding how well you’re prepared to succeed, you can answer the most important question: Does your personality support—or get in the way of—your ability to reach your fitness goals?

In this excerpt from our most recent webcast, Three Not-So-Common Ways to Positively Impact Your Finances, Sheppard explains how those same strategies can be used when trying to achieve your financial goals.

To view the entire webcast, click here.

The Northwestern MutualVoice Team is a group of professionals who share insights and opinions from experts and industry leaders across the enterprise. Our vision is to inspire others to take action and plan for their financial future through topics ranging from financial planning, retirement planning and distribution strategies, wealth accumulation and preservation, to leadership, philanthropy and innovation. 

 
Update
2

2 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workf ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

3 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and MH17 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Debate over decentralisation of financial powers begins in UK
London, Sep 19 (IANS/RAY) The Scottish referendum may have gone in the United Kingdom's favour, but the debate over de-centralisation of financial powers is not over yet.
 
 
Now a campaign to debunk myth about sugar
London, Sep 19 (IANS) As obesity and sugar related problems are faced by a huge number of people, a new campaign has been launched to inform and educate people about sugar and the role it can play as part of a healthy balanced diet.
 
 
Nepal, GMR sign landmark pact to boost energy cooperation
Kathmandu, Sep 19 (IANS) The Nepal government and the GMR-ITD Consortium Friday signed a landmark Project Development Agreement (PDA) to develop the 900 MW Upper Karnali hydropower project, aiming to boost bilateral power cooperation wioth India.
 
 
Childless couples too enjoy family meals
New York, Sep 19 (IANS) Couples without kids in the house are just as likely as adults living with young children or adolescents to eat family meals at home on most days of the week, says a US-based study.
 
 
 

Latest from the Network

Sharif accuses opponents of using human shields
Islamabad, Sep 19 (IANS/RAY) Pakistani Prime Minister Nawaz Sharif Friday accused cricketer-turned-politician Imran Khan and religious leader Tahirul Qadri and their parties of "inciting people to opt for mutiny". He...
Read more on Politics Balla
 
South Korean stars light up Asiad opening ceremony
Incheon, Sep 19 (IANS) South Korean stars shone brightly at the opening ceremony of the 17th Asian Games here Friday. The first appearance of stars was during the welcoming performance with the host nation's famous K-...
Read more on Sport Balla
 
Debate over decentralisation of financial powers begins in UK
London, Sep 19 (IANS/RAY) The Scottish referendum may have gone in the United Kingdom's favour, but the debate over de-centralisation of financial powers is not over yet. The BBC commented: "The fact that over 1.5...
Read more on Politics Balla
 
Now a campaign to debunk myth about sugar
London, Sep 19 (IANS) As obesity and sugar related problems are faced by a huge number of people, a new campaign has been launched to inform and educate people about sugar and the role it can play as part of a healthy...
Read more on Celebrity Balla
 
Nine involved in Karachi naval dockyard attack held
Islamabad, Sep 19 (IANS) Pakistan's Defence Minister Khawaja Asif Friday claimed nine men accused of involvement in Karachi naval dockyard attack have been arrested but two key accused remain at large, Geo News...
Read more on Politics Balla
 
Nepal, GMR sign landmark pact to boost energy cooperation
Kathmandu, Sep 19 (IANS) The Nepal government and the GMR-ITD Consortium Friday signed a landmark Project Development Agreement (PDA) to develop the 900 MW Upper Karnali hydropower project, aiming to boost bilateral...
Read more on Business Balla
 
Nicole Kidman says final goodbye to father
Sydney, Sep 19 (IANS) Actress Nicole Kidman broke down as she said her final goodbye to her father Antony Kidman at his funeral here Friday. The A-list Hollywood actress was accompanied by her husband Keith Urban and...
Read more on Celebrity Balla
 
Colours, technology dominate Asiad opening ceremony
Incheon, Sep 19 (IANS) Vibrant use of colours and technology dominated the opening ceremony of the 17th Asian Games being held at the Incheon Asiad Main Stadium here Friday. The ceremony began with an array of...
Read more on Sport Balla
 
Dozens of rebels killed in Yemen clashes
Sanaa, Sep 19 (IANS/EFE) Dozens of Houthi militants were killed Friday in clashes with Yemeni security forces around the headquarters of the state television in the capital, the rebels and eyewitnesses said. The Shia...
Read more on Politics Balla
 
Childless couples too enjoy family meals
New York, Sep 19 (IANS) Couples without kids in the house are just as likely as adults living with young children or adolescents to eat family meals at home on most days of the week, says a US-based study. "Most...
Read more on Apple Balla