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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-01-21 04:15:19" ["slug"]=> string(45) "14459:characteristics-of-successful-investors" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(58) "/resources/podcast/characteristics-of-successful-investors" ["image"]=> string(40) "images/podcasts/Michael_McCarthy_WEB.jpg" ["image_alt"]=> string(16) "Michael McCarthy" } }

Saturday, 29 February 2020

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Borrow

Put finance first this Valentine’s Day

By Grace Ormsby · February 14 2020

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Borrow

Put finance first this Valentine’s Day

By Grace Ormsby
February 14 2020

Reading:

Put finance first this Valentine’s Day

By Grace Ormsby · February 14 2020

Reading:

A CEO has flagged the importance of putting credit file compatibility ahead of other attributes this Valentine’s Day.

According to MyCRA Lawyers CEO Graham Doessel, many divorces and relationship breakdowns could be avoided if financial compatibility is considered earlier.

While acknowledging the consideration of finances as “probably the least romantic thing you could think of doing” this Valentine’s Day, it offers a timely reminder for people to “seriously think twice about getting involved with someone with a lot of debt”.

This can be done with a simple credit check, with the CEO considering a credit file “really is a window to their soul”.

“You can’t hide your financial misdeeds,” he said.

He highlighted how changes to credit reporting now means that if you are 14 days late paying a bill, it can appear on your credit file.

“Get just one of these and a happy couple will soon find they can’t take that next step of buying a house or car on finance, or perhaps can’t even get credit at their baby store,” Mr Doessel warned.

The CEO said, “We hear all the stories of how partners hide their spending habits from partners, from the old buying gift cards to other stores and hiding the grocery bill, to buying something expensive and returning it for something cheaper and spending the difference on themselves.”

In some cases, he highlighted how one partner might even be hiding their tardy bill paying from the other and “often it ruins both individuals’ credit rating because these late payments are now recorded”.

For ADS Law family lawyer Patrick Earl, “Marriage is like a business, and you’re both in the business together.”

“I’ve had clients getting divorced who have tried to argue that they should not be liable for their partner’s financial decisions, but often they are,” he commented.

“People don’t realise once you’re married, you’re stuck with the financial decisions your partner makes, so you both need to be on the same page.”

The lawyer observed how “just as you get to split the assets when you get divorced, you get to split the debts as well”.

“The clause in your marriage vows, ‘for better or worse, rich or poorer’, is talking about your partner’s financial indiscretions,” he concluded.

nestegg recently revealed that Australians are moving away from celebrating Valentine’s Day this year, with costs cited as a major issue.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.