Wall Street Journal – “It’s an emotional time,” says Steve Zimmerman, a fee-only certified financial planner in Apple Valley, Minn., whose wife Susan, a licensed marriage and family therapist, helps coach clients. “When investors get toward the end of the year, they do a mental accounting of the year behind them and the year ahead,” he says. (Published December 21, 2012)
Kiplinger’s Personal Finance – Instead, Kautz met with Susan Zimmerman, of Mindful Asset Planning in Apple Valley, Minn., a chartered financial consultant and licensed marriage and family therapist. Zimmerman gives clients an exercise that helps illuminate the motivations underlying financial behaviors, as well as the intensity of the motivation. Kautz learned that she was conservative, yes, but also a calculated risk-taker. The insight gave her the confidence to maintain a healthier balance in her portfolio. (Published August 2012)
Minneapolis Star Tribune – Haunted by the money goblins? The first step is to assess why you behave the way you do around money. Sometimes our money personality is like a ghost that's haunting us, said Susan Zimmerman, a licensed marriage and family therapist and co-founder of Mindful Asset Planning in Apple Valley. (Published 10/31/10)
St. Paul Pioneer Press: Susan Zimmerman, a financial planner and marriage therapist from Apple Valley, said couples aren't just arguing about who ran up the credit card bill. They're now arguing about why the investment portfolio wasn't more diversified. (Published 2/14/09)
StarTribune – 'Til Debt Do Us Part Susan Zimmerman: Marriage therapist with financial expertise. The best cure is to start to get those secrets out on the table Once that awareness is opened up, especially if there haven't been too many years of anger build-up, just seeing it and finding a better way to communicate can solve the existing issues. (Published October 7, 2010)
According to Susan Zimmerman…there is yet another source of money conflicts. "I'm amazed at how often people's problems with money go back to the Great Depression… feelings get passed on to their children. Some children grow up with a fear that they'll run out of money. Others will be the opposite; they'll be spendthrifts."
St. Paul Pioneer Press:
Susan Zimmerman, who along with her credentials as a financial planner is a licensed marriage and family therapist, has identified eight personality traits, called 'money rascals' to help figure out how people think about money. The terms include 'flashers,' who are spendthrifts, and 'cashers' who are savers and debt dodgers. Most problematic pairs are an over-spender who is compulsive, and a casher, who is very organized: "Those two types can give each other some major headaches because they'll both tend to plant their feet a little and not be able to see how the other is."
But you have a money personality you don't know about, says Susan Zimmerman, author of The Power in Your Money Personality. And finding out what it is can put hundreds more in your pocket each year! So using her experience as a licensed therapist and financial consultant, Zimmerman blended psychology with financial planning to define eight money personalities that she saw again and again in her clients.
Teen Money Isn't Teeny. Affluence can provide financial security for families, but it can also be the root of unrealistic expectations and poor money habits for children. Statistics on this topic aren't encouraging. Why is this? Some parents may have been too busy or preoccupied with their careers or other problems to pass healthy money lessons on to their kids. Teen money isn't teeny because it represents the future savings habits they will have as adults.
Worry can prevent some decisions from being overly risky or overly impulsive. The trick to knowing when to let [emotions] lead the way is to look for distortions, all-or-nothing thoughts. If the belief behind an emotion stems from a thought that contains words such as never or always, then it is probably too extreme.
In fact, Zimmerman decided to get her therapist's license after a psychiatrist started sending her couples who warred so dramatically over money that their therapists gave up. "if there are established ground rules," she says, "then conflicts can be avoided."
Minneapolis Star Tribune:
The best way to gauge a person's financial 411 is just to ask, experts say. "Investigating someone without even talking to that person first is not the best way to start off a relationship that is supposed to be based on trust," said Susan Zimmerman, a Minneapolis-based marriage and family therapist and a chartered financial consultant.
Cape Cod Times, Hyannis MA:
These tests force you to think about what you want out of money, the importance you assign it and how best to achieve your goals.
The Ottawa Citizen, Ottawa Ontario:
"Sometimes they've never really done the math," said Susan Zimmerman. "Are they afraid they might live to be 330 years old? They may have suffered from poverty, and they have a fear that the money will disappear. It's irrational, but sometimes what appears to be greed is actually fear."
The Parent Paper: Money Matters:
"Many times you'll discover that this 'cooling down' period will save you hundreds of dollars, as you no longer have the initial desire for the 'must have' impulse item. This is when you need to logically analyze the buying decision…When you curb your buying emotions with money logic; you can often see the item's true price."
"By examing the unconscious part of your spending, you will make healthier decisions and have the financial freedom to act on opportunities that align with your true passions."
Senior Market Advisor:
"Think about it. How often are adult siblings ever in similar financial situations so they can equally contribute to a parent's health care expenses? And if they are able to help, are they all equally willing?"
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