What Is Your Financial Decision Making Style?

Our Personal and family finances are influenced by our attitudes,
past experience, family dynamics and personality factors.
Understanding ourselves in relation to such matters is important. As
we come to understand and change, so do your financial habits. Studies
have shown that physical problems can occur as a result of worry and
stress, and it also shows that money is a major cause of worry and
stress for many people. Therefore, learning to understand what
influences your current financial habits is the first step towards
reducing money-related stress.
What is your financial decision making
style?
Do you manage money well but live at the outer limit of your income?
Where does this lead? Studies show that this leads to increased risk
of debt.
Are you overcommited but weak on follow through? People like this can
be disorganised and unreliable with money. They act on impulse and
keep no records, and have no idea how much money they are spending.
Or are you someone who knows where you stand financially, frugal and
conservative? Individuals like this tend to be perfectionist, they
sometimes overspend or even give loans to others unwisely. They can
procrastinate and be resistant to change.Instead you may be goal
oriented, someone who stays on course, hates change, and is not
willing to take risks. Not driven by impulse or judgment, although can
sometimes fall easily for 'promotions', and regret their decisions.Do
you recognise yourself in any of these profiles? Although they are a
lighthearted way to look at yourself, ask yourself whether they hold
some truth in relation to you and your money decision making style.
Understanding yourself and the way in which you function around money
will help you take control of unhelpful habits.
If you would like to
find out more about how to have more control over your money then the
following books and CDs may be of interest to you.
The Money Makeover:
How to get control of your money and your life By Rosemarie F
Patterson
The Money Goddess: The Complete Financial Makeover. By Paula Hawkins
Slash You Debt, Save Money and Secure Your Future ByGerri Detweiler
The 5 Minute Debt Solution: Get Out Of Debt Fast and Stay Out
Forever.Chris Hendrickson and Anthony Robbins
Awaken The Giant Within: How To Take Complete Control Of You Mental
Physical and Financial Destiny! By Anthony Robbins (Audio CD)
91 Days To Beat Debt And Build WealthBy Dave Ramsey (Audio CD)
The total Money Makeover: A Proven Plan For Financial FitnessBy Dave
Ramsey
The Change Your Life Challenge: Step By Step Solutions For Finding
Balance, Creating Contentment, Getting Organised and Building The Life
You Want. By Brook Noel2010 Wellness Wayfinder Institute