subject: Poker Reveals Your Financial [print this page] Playing poker shows a lot more than your composure and playing style in the said game.
According to Joel Ohman, a certified financial planner, "Poker can teach a person a great deal about their finances. Even novice players can gain surprising insight into the financial risks they're willing to take or their relationship with money based on the decisions they make at the table."
"In both, you have to manage money, calculate risk and deal with uncertainty," says Ohman. You also have to keep your emotions under control.
Your facial expressions, body language and other body signs reveal how you think about finances, along with some tips to improve your financial game.
Card Mixer
You lack confidence about your finances, which can lead to hiding from money problems.
This is a person who messes with their cards constantly, rearranging them repeatedly, which reveals a lacking confidence in financial decision making or reveal an anxiety about their finances. And that can lead to avoidance and denial of your finances."
The fix? Most likely this type of player is overwhelmed by the big picture. Instead of looking at all your bills at once and trying to figure out how much to pay, deal yourself a smaller hand.
Pull out one or two of your biggest financial headaches and formulate a plan to pay them off. Then over time add more and more bills to the mix in the order of magnitude. Easing into finances will decrease the odds you'll become anxious.
Single Glancer
You are the type who goes with your gut, and know how to adhere to a budget and are in control of your finances.
Taking a quick look at your hand, and then putting your hand down on the table facedown, means you're very confident in how you manage your money. You know what you want to do and don't second-guess yourself.
Visualize the big wins you've won or great bluffs you've pulled off. Tack a dollar bill from a board and keep it in sight when you're balancing your checkbook or paying your bills. Chances are, you'll remember the wise decisions you made that lead to winning that pot and will be bolstered by those memories.
The Unsure
You're not sure. You may not trust your financial intuition, either.
Players who constantly sneak a look or two at their cards are not really sure about their hand, and shows a lack confidence in their initial gut reaction to it.
Regaining some confidence can help to re-establish budgets, put aside retirement funds or even make out your grocery list. Stick to the regimen. Eventually, you'll trust yourself to make decisions that are in line with your financial goals. So chances are you won't blow your budget.
If you need to cultivate confidence, play for fun. Playing for money can thrill some people and stresses out a whole lot more people. Why not then, play for candy or with your family for household tasks. Think out of the box. Experiment with different styles and seeing what works for you will build your confidence in your poker skills. That confidence should flow into your finances.
The High Roller
This style takes a lot of risky bets. How much and how often you bet can indicate how likely you are to amass hefty debt. If you take chances even when you aren't holding anything that has a chance, you most likely in real life have mounting credit card debt or paying hundreds in bank overdraft fees, because you're prone to ignoring the signs of danger.
Stop it. Imagine losing a lot of money with your bets. If you see the consequences of your actions, you'll slow down with the bets and only bet on reasonable chances.
