STUDENTS MONEY STREAMS

FINANCIAL decisions are rarely easy, whether it's buying your first car or home or deciding whether to refinance students loans.

The anxiety can be heightened for millennials who witnessed economic turmoil during the Great Recession as they weigh milestone financial choices as adults.

''Many [mellinials] grew up and saw their parents lose a house or have to delay retirement,'' says Brad Klontz, a financial psychologist and associate professor at Creighton University.

''Of course, they are going to be anxious.'' In fact, a survey this year by Insurance company Northwestern Mutual found that this generation not only has a stronger inclination to make financial plans compared with older generations, but also has a higher level of anxiety about whether they are following the right strategy.

The survey found that 66 percent of millennials [those born from 1981 to 1996] said they were ''highly disciplined'' or ''disciplined'' financial planners, compared with 60pc of Generation X [born 1965 to 1980] and 52pc of baby boomers [born 1946-64].

At the same time, 70pc of millennials said their financial planning needs improvement. That's compared with 68pc of Gen Xers and 52pc of baby boomers.

There are ways to reduce the stress of financial decisions. Start by identifying your attitude toward money. Then, take action in a way that's tailored for you and turn to others who've been there.

Know your attitude toward money

Most of us grow up with a specific approach toward money, often learned from our parents, imbibed from those around us or informed by our own experiences.

Being aware of our relationship with money can help you avoid pitfalls like worrying too much. Kiontz, the author of several books on finances and psychology, says he's found four common approaches to money :worship, avoidance, vigilance and status.

For example, those who are vigilant about money always worry about having enough and experience trouble making spending decisions. On the other hand, avoiders don't look at bills or statements until they absolutely have to, Klontz says.

Another source of insights about your financial mindset is Gretchen Rubi's book ''The Four Tendencies,'' which explores what drives people's decisions.

She categorizes people as obligers, questioners, rebels and upholders. [You can take Rubin's online quiz to see which one you are].

The honor and serving of the latest operational research on Millennial Money, continues. The World Students Society thanks AP.