True Links: Precursory Lessons from Golf for Effective Financial Behaviour

Knutsen Julie Therese (), Malin Mirela, West Tracey and Brimble Mark
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Knutsen Julie Therese: Griffith Business School, Griffith University, Tel: +61 (0) 7 5552 8407, Griffith, Australia

Financial Planning Research Journal, 2017, vol. 3, issue 1, 12-25

Abstract: This article presents the results from a preliminary study which finds there are three psychological errors common to golf and financial behaviour which are the cause of unfavourable outcomes, namely overoptimism, overconfidence and emotional judgements. To manage these errors, this study finds the same strategies used to improve golfing decisions could carry over into our understanding of effective financial behaviour. Further, linking the research of effective golf play with effective financial behaviour leverages upon a worldwide interest which we argue has the potential to provide a range of analogies and visual clues for financial education and financial planning.

Keywords: Financial behaviour; Golf performance; Financial decision-making; Financial planning; Financial coaching (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:finprj:v:3:y:2017:i:1:p:12-25:n:1001

DOI: 10.2478/fprj-2017-0001

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