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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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Bank flags budget planning pitfalls

By Jack Derwin · January 03 2017

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Save

Bank flags budget planning pitfalls

By Jack Derwin
January 03 2017

Reading:

Bank flags budget planning pitfalls

By Jack Derwin · January 03 2017

Reading:

An Australian bank has revealed the top new year financial goals of Australians along with the obstacle preventing them from achieving them.

In 2017 three-quarters of Australian households will be saving for a holiday or car paying off a mortgage or building up ‘rainy day’ savings, according to Australian bank ME’s research.

However failure to keep regular budgets will prevent or limit Australian’s ability to achieve these goals.

“The key to getting ahead is tracking the real costs of your household expenses, setting a realistic budget and committing to every single detail, consistently,” Me head of deposits and transactional banking Nic Emery said.

“For some ‘live-for-today, plan-for-tomorrow’ types regular savings habits may not come naturally − if you’re one of these people, consider introducing processes such as automatic transfers that helps you set, forget and save,” he added.

Of 1,500 Australian households surveyed, more than half admitted to failing to set a weekly or monthly budget while 59 per cent do not keep a record of monthly expenses.

Meanwhile 42 per cent failed to pay off their credit card each month, incurring significant interest on their repayments.

When it came to budgeting, Mr Emery said it was vital Australians set up some sort of budgeting system they could maintain.

ME’s research found most Australians (52 per cent) only transferred money to a savings account when spare funds are present, while 15 per cent just accumulate money in an everyday account.