Money Behavior: How People Make Financial Decisions

By Molly C. Herndon, Military Families Learning Network

Making financial decisions is impacted by many external factors. Peer influence, psychological perspective, an overwhelming amount of choices, and your personal experiences managing money in the past all play roles in how you approach financial situations.

How and why people make financial decisions will be the topic of a three-day Virtual Learning Event, “Money Behavior: How People Make Financial Decisions,” hosted by eXtension’s Military Families Learning Network onJune 3 – 5. Over the course of the multi-day event, participants can engage in three 2-hour webinars and one 90-minute panel discussion. Each session will focus on factors that impact our financial decision-making process.

Tuesday, June 3rd, Dr. Lois Vitt will present Mental Health & Financial Management at 11 a.m. ET. This 2-hour session will focus on the effect mental illness has on a person’s ability to make sound financial decisions.

Wednesday, June 4th, Dr. Michael Gutter will present Heuristics, Anchoring & Narrowing Choice at 11 a.m. ET. This 2-hour session will focus on the process of eliminating an overwhelming amount of choices to make financial decisions more negotiable.

Two sessions will be presented on June 5th. At 11 a.m. ET, Dr. Barbara O’Neill will present the Culture of Personal Finance, a 2-hour webinar, which will tackle the factors that create and shape our financial management perspective. At 1:30 p.m. there will be a 90-minute panel discussion on the topic of What Young Adults Need to Know About Money. Participants may submit questions to the panelists in advance by emailing them to This email address is being protected from spambots. You need JavaScript enabled to view it. or Tweeting them using #MFLNPF.

Each 2-hour webinar will include a 30-minute question and answer period, and will offer two Continuing Education Credits to AFC-credentialed participants. The 90-minute panel discussion will be worth 1.5 CEUs. 

Understanding the process of making financial decisions better completes the picture of helping clients make behavior change. We hope many Personal Finance Managers and educators will engage in this 3-day event, and will not only learn from our presenters, but also share their own expertise and experience. For more information on this event, visit:

Tip of the Day

  • Written by Guest Blogger | April 18, 2014

    Don't fall prey to the #payday #loan trap! Read these tips for alternate options

Saver Stories View all »

When You Start Small, Saving is Easy

Written by Lila Quintiliani | August 12, 2019

When Attiyya first got married, she and her Marine husband had just graduated from college and were focused on paying off student loan debt. They had both attended private schools and had sizeable loans. Then three months after the wedding, the couple found out they were pregnant with their first child.

The first year of their marriage, says Attiyya, was a balancing act between paying down debt and saving for the future.


Involving Kids in Family Finances

Written by | April 19, 2019


One of the best lessons we can share with our kids is about money. By middle school, kids should have a good understanding of how money works as well as the importance of saving.


Setting a Goal Leads to Success

Written by Super User | May 24, 2019

Growing up, Marisa’s dad had always talked about saving first, but she said she didn’t really internalize it until much later. “I was drifting along with no plan, carrying a little bit of revolving debt, saving some money here and there, but without a real plan for it.”