Episode 117 – The End of History Illusion

The Financial Wellbeing Podcast

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Biscuits & Jam

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The War and Treaty Are Getting Carried Away 46:55

1 day 전46:55

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46:55

The War and Treaty’s Michael and Tanya Trotter grew up in Cleveland, Ohio, and Washington, DC, respectively, but both have family roots in the South. They also grew up in the musical traditions of their churches – Tanya in the Black Baptist Church and Michael in the Seventh Day Adventist Church – where they learned the power of song to move people. After becoming a father at a very young age, Michael eventually joined the armed forces and served in Iraq and Germany, where he took up songwriting as a way of dealing with his experiences there. Meanwhile Tanya embarked on a singing and acting career after a breakthrough appearance in Sister Act 2 alongside Whoopi Goldberg and Lauryn Hill. Now, after a long and sometimes traumatic journey, Michael and Tanya are married, touring, winning all sorts of awards, and set to release their fifth album together, and their fourth as The War and Treaty. Sid talks to Michael and Tanya about the new record, Plus One , as well as their collaboration with Miranda Lambert, what it was like to record at FAME studios in Muscle Shoals, and how they’re blending country, soul, gospel, and R&B. Learn more about your ad choices. Visit podcastchoices.com/adchoices…

약 1년 전 38:45

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Episode 117 – The End Of History Illusion

In this episode we’re diving into a fascinating psychological concept that influences the way we make decisions — The End of History Illusion, which in short, is the idea that people believe they have reached their final form and will not change much in the future. The guys explore how our personality, values, and needs continue to change throughout our lives—and why we often underestimate these changes. They’ll also discuss the effect this illusion has on our financial decisions, from planning for retirement to making career choices, and share practical ways to connect with your future self.

Oh, and don’t miss Tight-Ass Tommo’s latest round of quirky money-saving tips — they’re as entertaining as they are thrifty!

Welcomes & Introductions

Want to know more about Chris Budd’s The Financial Wellbeing Pulse? Take a look here
Fancy a chat with Tom Morris and the team at Ovation? Contact details here

Whats on Today’s Podcast

Learn about the fascinating psychological concept of The End of History Illusion and how it affects our decision-making. Discover why we assume we won’t change much in the future, even though our past tells a different story.

Tight Ass Tommo

Save your 2024 calendar to reuse in 2052!
Meal prep—but don’t overload your freezer.
Over 50? Stop warming your plates to save energy!

How Underestimating Personal Future Change Effects Your Financial Decisions Today

Why we get it wrong.
Why we underestimate how much we’ll change in the future—and how this impacts our finances.

How this impacts your finances.
From career paths to retirement plans, find out how our mistaken beliefs about the future can lead to financial regrets.

Practical tips for better decisions.
Hear strategies to connect with your future self and make smarter, more proactive choices today.

Conclusions From The Guys

Come and get involved!

We want to hear your Messages From the Future. Record a short 30-second message sharing a decision you’re glad you made (or one you regret) to help others make better choices. Send your voice clips to marketing@ovationfinance.co.uk—and join the conversation.

119 에피소드

#Trading #Business #Financial Wellbeing

The Financial Wellbeing Podcast

Episode 117 – The End of History Illusion

The Financial Wellbeing Podcast

17 subscribers

published 약 1년 전

MP3•에피소드 홈

Episode 117 – The End Of History Illusion

Oh, and don’t miss Tight-Ass Tommo’s latest round of quirky money-saving tips — they’re as entertaining as they are thrifty!

Welcomes & Introductions

Want to know more about Chris Budd’s The Financial Wellbeing Pulse? Take a look here
Fancy a chat with Tom Morris and the team at Ovation? Contact details here

Whats on Today’s Podcast

Tight Ass Tommo

Save your 2024 calendar to reuse in 2052!
Meal prep—but don’t overload your freezer.
Over 50? Stop warming your plates to save energy!

How Underestimating Personal Future Change Effects Your Financial Decisions Today

Why we get it wrong.
Why we underestimate how much we’ll change in the future—and how this impacts our finances.

How this impacts your finances.
From career paths to retirement plans, find out how our mistaken beliefs about the future can lead to financial regrets.

Practical tips for better decisions.
Hear strategies to connect with your future self and make smarter, more proactive choices today.

Conclusions From The Guys

Come and get involved!

119 에피소드

#Trading #Business #Financial Wellbeing

Alla avsnitt

The Financial Wellbeing Podcast

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Episode 118 – Kindness with Dennis Harhalakis 46:41

6일 전46:41

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46:41

Episode 118 – Kindness with Dennis Harhalakis Money isn’t just about numbers – it’s about emotions, habits, and the way we treat ourselves and others. In this episode the guys welcome Dennis Harhalakis, an experienced money coach, to explore the connection between kindness and financial wellbeing. Of course we have another round of Tight Ass Tommo tips as ever. This episode is packed with wisdom, humour and practical takeaways to help you bring more kindness into your financial life. Hit play and let’s dive in! Welcomes & Introductions Want to know more about Chris Budd’s The Financial Wellbeing Pulse? Take a look here Producer Tommo – Director and Chartered Financial Planner at the award winning, employee owned and B Corp certified Ovation Finance! Fancy a chat with Tom Morris and the team at Ovation? Contact details here Chris Budd – founder of the Institute for Financial Wellbeing . Gearing up to play at the 2025 IFW conference . What’s on Today’s Podcast? A chat with Dennis Harhalakis, exploring money coaching and kindness in connection with our finances. Tight Ass Tommo Featuring some rather morally grey money saving tips around umbrellas and kids meals! Interview with Dennis Harhalakis What is money coaching? You can’t understand how to manage your money, until you understand your behaviour Dennis Harhalakis Common things Dennis has seen when exploring finances with couples Internal self worth is better for long-term wellbeing – so what bring internal self worth? Kindness! What is kindness? The importance of being kind to yourself How kindness is good for you Money and kindness Why do those with more money often give less to charitable causes? Compersion, the opposite of schadenfreude Conclusions from the Guys Dennis Harhalakis has over 30 years experience in financial services. As a money coach he set up Cambridge Money Coaching – helping people understand and manage the money in their lives. Want to know more – connect with Dennis on LinkedIn…

The Financial Wellbeing Podcast

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Episode 117 – The End of History Illusion 38:45

5 weeks 전38:45

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38:45

Episode 117 – The End Of History Illusion In this episode we’re diving into a fascinating psychological concept that influences the way we make decisions — The End of History Illusion, which in short, is the idea that people believe they have reached their final form and will not change much in the future. The guys explore how our personality, values, and needs continue to change throughout our lives—and why we often underestimate these changes. They’ll also discuss the effect this illusion has on our financial decisions, from planning for retirement to making career choices, and share practical ways to connect with your future self. Oh, and don’t miss Tight-Ass Tommo’s latest round of quirky money-saving tips — they’re as entertaining as they are thrifty! Welcomes & Introductions Want to know more about Chris Budd’s The Financial Wellbeing Pulse? Take a look here Fancy a chat with Tom Morris and the team at Ovation? Contact details here Whats on Today’s Podcast Learn about the fascinating psychological concept of The End of History Illusion and how it affects our decision-making. Discover why we assume we won’t change much in the future, even though our past tells a different story. Tight Ass Tommo Save your 2024 calendar to reuse in 2052! Meal prep—but don’t overload your freezer. Over 50? Stop warming your plates to save energy! How Underestimating Personal Future Change Effects Your Financial Decisions Today Why we get it wrong. Why we underestimate how much we’ll change in the future—and how this impacts our finances. How this impacts your finances. From career paths to retirement plans, find out how our mistaken beliefs about the future can lead to financial regrets. Practical tips for better decisions. Hear strategies to connect with your future self and make smarter, more proactive choices today. Conclusions From The Guys Come and get involved! We want to hear your Messages From the Future . Record a short 30-second message sharing a decision you’re glad you made (or one you regret) to help others make better choices. Send your voice clips to marketing@ovationfinance.co.uk —and join the conversation.…

The Financial Wellbeing Podcast

1
Episode 116 – Behavioural Finance with Greg Davies 49:14

10 weeks 전49:14

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49:14

Episode 116 – Behavioural Finance with Greg Davies In today’s show, we have another fascinating conversation with Greg Davies, as he comes back to chat with us for a third time! Greg dives into the concept of behavioural vulnerabilities and the importance of anxiety-reducing returns when making money choices. He also shares insights on how we can identify and adapt to our behavioural traits to make better financial decisions. If you’ve enjoyed Greg’s previous appearances on the podcast, you won’t want to miss this insightful follow-up conversation. Let’s get started! Welcomes & Introductions Want to know more about Chris Budd’s The Financial Wellbeing Pulse? Take a look here Fancy a chat with Tom Morris and the team at Ovation? Contact details here What’s on Today’s Podcast? We have another chat with Greg Davies, head of Behavioural Innovation at Oxford Risk – exploring how our behaviours effect our financial relationships. Catch up on previous conversations with Greg Davies in Episode 25 – Behavioural Economics and Episode 38 – Keeping it Fuzzy Tight Ass Tommo Chris’s tip – saving up for a big ticket item? Us mental accounting to help – set up a new account and give it a specific name related to what you are saving for. You are more likely to reach that savings goal! #TATTOTW – As electric vehicles become more popular, Tom shares his tips for keeping costs down, including having a smart meter, going onto dual/evening tariffs and consideration around when you charge your car. Interview with Greg Davies What has Greg been up to in between interviews on The Financial Wellbeing Podcast? Working in applied behavioural finances – building ideas into technology to help people make better financial decisions. How do we know what ‘better’ is? We should be chasing anxiety reducing returns What do we mean by Financial Personality? We are bad at assessing our reaction to stressful situations when we are not in stressful situations! Attitudes to risk Behavioural vulnerability There is no right place to be, you are where you are A few examples of behavioural vulnerabilities; Financial – I don’t have enough Knowledge Based – I don’t know what I am doing Health – cognitive issues Impulsive – Over confidence – doing the wrong thing in the moment Under confidence – leads to loss of returns over time Can all be detrimental to making better money decisions Misalignment of values How do we identify our behavioural vulnerabilities? How do I get the emotional comfort I need at the lowest cost way to my financial returns? How to use the knowledge around your behavioural vulnerability? Changing our environment to suit our behavioural vulnerability Conclusions from the Guys Greg Davies founded the first behavioural finance team at Barclays Bank in 2006 and is a specialist in behavioural finance and decision science. He now works at Oxford Risk building tools to improve financial decisions. Want to know more – connect with Greg on LinkedIn…

The Financial Wellbeing Podcast

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Episode 115 – 10 Tips To Master Moderate Success 49:34

14 weeks 전49:34

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49:34

In this episode the guys take a playful dive into what moderate success could look like for you. Chris shares ten practical tips for balancing ambition and wellbeing. With a dash of humour, but lots of actionable insights, this episode will help you define your personal version of success and build a life of financial and personal wellbeing. Ready to redefine success? Tune in now! Welcomes & Introductions David – he asks the questions listeners are undoubtably shouting! Chris Budd – a vinyl record hoarder Producer Tommo – financial planner at Ovation Finance 2024 UK Autumn Budget – a note on speculation v information Want to work with calm financial planners? Have a chat with the Ovation Team Whats on Todays Podcast? A light hearted look at financial tips to be moderately successful – a tongue in cheek exploration Tight Ass Tommo Featuring David’s multi-vehicle insurance (add others to your policy and you may see changes in your premiums) and Producer Tommo’s regular reminder to look for free kids meals during school holidays. Tip of the week – Go and watch tribute bands. All the songs you know, just as good, but a fraction of the price. The Main Event What does Chris mean by ‘moderately’? 1 – Own your success Define what it is and when you will achieve it 2 – Say ‘yes’ to everything For a period of time, give it attention to see if you like it. 3 – Take a nap 4 – Don’t have a plan! Sometimes, going with the flow can be liberating. If all your time is planned, you will not be able to look at something interesting that pops up. 5 – Be a problem finder 6 – Be lucky! Remember the role luck plays in success 7 – Don’t have BIG goals 8 – Celebrate the boring 9 – Don’t believe all you hear 10 – Always follow your passion . . . or don’t! (cover image; Photo by Maxim Makarov on Unsplash )…

The Financial Wellbeing Podcast

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Episode 114 – Preparing Your Finances for Parenthood with Katie Dow 53:04

18 weeks 전53:04

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53:04

Episode 114 – Preparing your Finances for Parenthood with Katie Dow In this special episode, Producer Tommo makes his interviewer debut as he sits down with Katie Dow, a holistic wealth manager from Aspen Capital Management. Katie shares her insights on preparing finances for parenthood, exploring the most common financial stresses young families face and how to address them with proactive planning. Tune in for thoughtful guidance on easing financial worries before the little one arrives – and of course some top #tightasstommo money saving tips! Welcomes & Introductions Want to know more about Chris Budd’s The Financial Wellbeing Pulse? Take a look here Fancy a chat with Tom Morris and the team at Ovation? Contact details here What’s on Today’s Podcast? Following a meeting with Chris at a financial conference in San Diego, Katie Dow chats about financial planning for young and busy families. Katie is a holistic wealth manager at Aspen Capital Management in Boise, Idaho. Interview with Katie Dow Katie’s background and how she got into Holistic Wealth Management Common stresses on finances when baby is on the way A Checklist to explore and consider when baby is on the way Link to Episode 65 – talking with Amy Florian on grief and loss during transitions The Bowen’s Family Systems Theory Differentiation of self Explore your family’s money stories Drill down into your financial behaviours Money personalities Security Freedom Power Love How the money personalities interact together – opposites/same Talking about finances as a couple and with a financial planner Katie’s #tightasstommotip – on a date night, save alcoholic drinks for when you get home to save money, cost of taxi and babysitter! Conclusions from the Guys Link to Episode 113 – Malsow, Money and Happiness Tight Ass Tommo Adam Harrison – GWR Delay & repay , claim money back on delayed train journeys. Not travelling in the south west? Check to see if your service offers a similar scheme! Katie Dow is an advisor at Aspen Capital Management. She helps alleviate financial stress for her clients and guides them by facilitating thoughtful planning and goal-setting for both the near and long term. While the future is important, she recognizes the voyage matters, too. Connect with Katie on LinkedIn here…

The Financial Wellbeing Podcast

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Episode 113 – Maslow, Money and Happiness 37:47

23 weeks 전37:47

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37:47

Episode 113 – Maslow, Money and Happiness We’re diving into Maslow’s famous hierarchy of needs – you know, the pyramid that breaks down what humans need to be happy, starting from food and shelter all the way up to self-actualization. But here’s the twist: we’re throwing money into the mix! Does having more cash help us climb the pyramid, or can it sometimes hold us back? We’ll explore each level and look at real-world examples of how finances play a role in finding happiness. Get ready for an insightful, practical, and fun conversation on how money fits into the bigger picture of living well. Along with some cracking Tightasstommo money saving tips you do not want to miss. . . Welcomes & Introductions Haven’t read Chris Budd’s Financial Wellbeing books? Take a look here Want to have a chat with Tom Morris and the team at Ovation? Contact details here Whats on Todays Podcast? The psychological model of Maslow’s Hierarchy of Needs and how it connects with our money and happiness for a link with financial wellbeing. Tight Ass Tommo Featuring Chris’s scaffolders dodgy washing up tips and David’s new shopping habits. Tip of the week – Producer Tommo has a money saving tip for kids lunches in the summer holiday, just in time for back to school! The Main Event Understanding Maslow’s Hierarchy of Needs Breaking down Maslow’s model and its relevance today. The Role of Money in Fulfilling Basic Needs How finances impact our survival and safety. Money and Self-Esteem: Striking the Right Balance Can wealth boost self-worth, or does it sometimes get in the way? Achieving Self-Actualization: Does Money Help? Finding fulfillment and purpose—what role does financial security play? Maslow’s Hierarchy: Is It Still Relevant? A look at exceptions and updates to the original theory. How Financial Planners Can Guide Wellbeing The role of advisors in helping clients balance wealth and life satisfaction. Universal Income and Basic Needs A case study on how income support can improve lives and productivity. Why Focusing on the Essentials First Matters for Happiness How to decided the right financial and emotional needs for long-term wellbeing. (cover image created by Dall E)…

The Financial Wellbeing Podcast

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Episode 112 – 100 Year Life with Dr Tom Mathar 37:00

27 weeks 전37:00

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37:00

Episode 112 – 100 Year Life with Dr Tom Mathar Join us for another insightful episode of The Financial Wellbeing Podcast. We dive deep into the challenges of financial planning in a world where we’re living longer than ever. Dr Tom Mathar from Aegon’s behavioral research department chats with the guys – exploring strategies for balancing today’s financial needs with the demands of a longer future whilst achieving financial wellbeing throughout. As ever TightAssTommo shares some tongue in cheek money saving tips, this time involving Norway and pizza! Welcomes & Introductions Want to read Chris Budd’s Financial Wellbeing books? Take a look here Fancy a chat with Tom Morris and the team at Ovation? Contact details here What’s on Today’s Podcast? Following on from our previous episode on life longevity in Blue Zones , a chat with Dr Tom Mathar of the behavioural research department at Aegon. Aegon are big supporters of the Institute for Financial Wellbeing . Tight Ass Tommo Where to buy alcohol in Norway What to do with pizza leftovers Interview with Dr Tom Mathar Episode 36 – Understanding our Attitude to Risk with Neil Bage We are living longer and facing a withdrawal from the state along with a rise in AI changing the working environment faster than ever. Life planning and financial planning are harder than ever before We are living longer, but not earning longer – the challenge of funding longer lives The trade off between financial security now v financial security in the future Connecting with our future selves – Episode 98 – Your Future Self with Hal Hershfield Long term mental time horizon The trade offs to consider Episode 32 – Getting Out of Debt with Maria Nedeva The differences between financial wellbeing v financial independence Visit the Aegon website for further information Conclusions from the Guys The worry of care home fees (a topic we have covered at Ovation Finance, click here to read The Emotional Journey of Caring for Elderly Parents pt 1 ) Performance and wellness maximiser Internationally experienced customer and behaviour researcher. Currently leading initiatives of Aegon’s Centre for Behavioural Research where we identify tools, techniques, rules-of-thumb and other interventions that help people make better long-term decisions – considering money and mindset. Connect with Dr Tom on LinkedIn here…

The Financial Wellbeing Podcast

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Episode 111 – Living the Long Life: Blue Zones and Financial Wellbeing 39:55

32 weeks 전39:55

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39:55

Diving into the intriguing secrets of life longevity in global Blue Zones – regions identified by National Geographic journalist Dan Buettner where people have extended lifespans. We’ll discuss the lifestyles and habits that contribute to their extended lifespans and how these insights can enhance our relationship with money for financial wellbeing. Curious about global longevity hotspots or seeking financial wisdom, this episode will inspire positive change! Welcomes & Introductions Haven’t read Chris Budd’s Financial Wellbeing books? Take a look here Want to have a chat with Tom Morris and the team at Ovation? Contact details here Whats on Todays Podcast? Exploring the places in the world where people live the longest – how they live and how it can inform our relationship with money Tight Ass Tommo Featuring shaving your beard in the garden and leaving the hairdressers with more hair than you started with Tip of the week – exploit a family member or friend with excellent DIY skills to just spend on materials cost and a steady supply of tea Blue Zones Dan Buettner, a National Geographic journalist tasked with finding world mysteries found places around the globe where people lived considerably longer than average and asked why. The 5 areas people live the longest Nuoro Province, Sardinia, Italy Icaria, Aegean Island, Greece Nicoya Peninsula, Costa Rica Loma Linda, California, USA Okinawa Prefecture, Japan The triangle of good old age; Living a long time Without disability Dying quickly Is it the geography? Yes, the hilly features and self propelled mobility mean they exercise through daily movement. The environment in which they live leads to a better outcome when it comes to keeping fit. Factors common to the Blue Zones Moving naturally Diet, less meat more pulses & beans Alcohol, 1-2 glasses of wine a day with friends Faith with regular meetings Keeping close knit as families Sense of purpose Downshifting each day, slow down and reflect to reduce stress Finding the right tribe, being around others who follow the same lifestyle The Institute for Financial Wellbeing is a like minded community for financial planners The Blue Zone project – applying the principles found in these communities in other cities around the world. By changing the environment where people live to help them succeed through making better choices. Finding purpose – consider the following to help find options for your purpose What do I enjoy? What am I good at? What are my values? Who can I help? The importance of social interactions It’s not about changing habits for a happier life. It’s about creating an environment in which we live so good choices can happen naturally. 5 Tips to create an environment for a better relationship with money Find what gives you purpose and enjoyment Analyse your spending, find what works for you Automate savings Mute adverts Mute stock market news, your money should work for you, not stress you out! Want to know more? Dan Buettner Books Live to 100 on Netflix…

The Financial Wellbeing Podcast

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Episode 110 – The Financial Wellbeing Pulse with Chris Budd 26:36

36 weeks 전26:36

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26:36

Episode 110 – The Financial Wellbeing Pulse with Chris Budd Taking a slightly difference approach in this episode, we sit down with Chris Budd to delve into the exciting launch of The Financial Wellbeing Pulse, a groundbreaking tool designed to help individuals measure their relationship with money. Chris shares insights into how the tool was developed, its key features, and the impact it can have on improving financial wellbeing. Whether you’re looking to gain better control over your finances or simply curious about innovative financial tools, tune in to discover how The Financial Wellbeing Pulse can make a difference in your life. The big secret about napping! The Financial Wellbeing Pulse – a way to measure our relationship with money Young Chris Budd, how his Dad’s bankruptcy shaped his relationship with money. The choices Chris made when creating his own financial planning company Ovation Finance Where did Financial Wellbeing come from and what is it? The link with cancer charity Penny Brohn – the aim was to reduce stress with money and led to writing The Financial Wellbeing Book What has happened since writing the book in 2015? What is The Financial Wellbeing Pulse? Link to Episode 89 – Interview with Liz Zeidler on The Financial Wellbeing Podcast How were the Pulse questions created? How to show impact of advice for clients? What problem does The Financial Wellbeing Pulse solve? Currently for the financial planning community, if you are interested, ask your financial planner to sign up Next steps for financial planners – head over to website for further information or to sign-up Ovation will be using the Pulse, if you want to work with them Come and have a chat with Ovation Finance…

The Financial Wellbeing Podcast

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Episode 109 – Reclaiming Philanthropy with Emma Beeston 46:19

41 weeks 전46:19

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46:19

Episode 109 – Reclaiming Philanthropy with Emma Beeston Join us for a candid discussion around philanthropy with Emma Beeston. We dissect the reclaiming of philanthropy as a social duty, no matter the size of the contribution. Whether your a seasoned giver or just starting the conversation, this episode offers practical advice and a fresh perspective on the power of giving for you wellbeing. Welcomes & Introductions Bear with us and the record delivery interruption! Link to Episode 64 – The Financial Wellbeing Junkie Link to join the IFW Want to work with Producer Tommo and a like minded team? Come and have a chat with Ovation Finance What’s on Today’s Podcast? An interview with Emma Beeston exploring philanthropy. It’s a topic many don’t like to talk about, but how can you give to maximise wellbeing? Tight Ass Tommo Episode recorded during Masters Golf – so a timely golf tip from Producer Tommo. Always loosing your golf balls? Try www.lakeballs.com for cheap replacements. Interview with Emma Beeston What do we mean by Philanthropy? The 5 T’s – Treasure Time Talent Testimonial Ties How to structure giving to maximise wellbieng? Different ways of giving? What happens when giving does not align with values? Giving in ways that can cause problems for the charities Focus on one area or spread money around? The charities perspective The head or the heart approach Advisors starting the conversations Conclusion from the Guys Philanthropy as a social duty and an important contribution to society Link to 500 Reasons – making a small amount of money go further with a bigger group Key takeaway; clients probably want to talk about philanthropy, but may not want to be the first to mention it. Reclaiming philanthropy – it’s not about the big boys, it’s relative and something everyone can approach Emma Beeston is a philanthropy advisor who facilitates conversations with philanthropists, families and foundations on creating and implementing giving plans. Emma’s book (with co-author Beth Breeze) Advising Philanthropists: Principles and Practice is available here. Want to work with Emma and bring her into the chat with clients? Take a look at her website for further information and contact details here .…

The Financial Wellbeing Podcast

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Episode 108 – Mind the Perception Gap 33:33

44 weeks 전33:33

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33:33

Episode 108 – Mind the Perception Gap The team explore the impact of perception on our finances and wellbeing. From understanding how perceptions shape decisions and how to challenge flawed realties connected to money. As ever some great money saving tips from #tightasstommo and a through provoking exploration that might just reshape your financial perspective. Welcomes & Introductions Is David still a writer? Want to work with Producer Tommo and a like minded team? Come and have a chat with Ovation Finance The Financial Wellbeing Pulse link What’s on Todays Podcast? The topic of perception and how it relates to our financial wellbeing Tight Ass Tommo Chris’ Mum, Meany Maureen using Mental Accounting to squirrel away jam jars of money for various reasons and how you can do the same digitally. Practical tip from Colin Lowe – use easysim.global for cheap mobile data when travelling Do you have a #tightasstommo money saving tip you would like to share with our listeners? If so, let us know by going to Twitter @Finwellbeing or email – contact@financialwell-being.co.uk Mind the Perception Gap Producer Tammy came across the following and felt it needed a closer look: Truth and perception become fused in the mind leaving no difference between the two The 22 Immutable Laws of Marketing What does perception mean? What we think of as reality may not be correct, our perceptions can be flawed. How might they be flawed? Relying on only one source of information Relying on previous experiences and making assumptions Focus of our attention – inattentional blindness The perception gap is not always a bad thing Link to Episode 104 – Crack the Happiness Code with Set Point Theory How our perception gap with finances can be changed How a financial planner can help challenge our assumptions Link to Episode 107 – Making Decisions with Nick Elston Behavioural Biases and our perceptions Conclusions from the Guys…

The Financial Wellbeing Podcast

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Episode 107 – Making Decisions with Nick Elston 40:46

49 weeks 전40:46

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40:46

Episode 107 – Making Decisions with Nick Elston In this episode we have the pleasure of welcoming back Nick Elston for the third time! The guys delve into the topic of anxiety surrounding big decisions, particularly those related to finances. Nick, drawing from his own lived experiences with anxiety, offers invaluable insights into navigating these challenges. The money saving tips have a slight twist with a dedication to Chris’ expert money saving mum. As ever a conversation you won’t want to miss! Introductions Chris Budd – author of the original Financial Wellbeing Books, you can view all three here Producer Tommo – chartered financial planner at podcast sponsors Ovation Finance What’s on Todays Podcast? The guys chat with regular guest Nick Elston! This time exploring the anxiety we often have when making important decisions. Meany Maureen (This time we have dedicated Tight Ass Tommo to Chris’ Mum and her lifetime of money saving tips) Featuring no spending, making the most of tap water and a tip to spend money in a positive way. Tip of the week – Premier Inn early check in. Perfect for those early big city starts Interview with Nick Elston Making decisions around money The anxiety we may feel Compulsion Comparison Choice Nick’s lived experience Our legacy Exploring fear in decision making How do we get our of the spiral? Dr Emma Treby Acceptance Resilience Nick handing his house keys back to bank Walking in to decisions, is it your decision? Getting help, the role of a third party Samaritans number – 116 123 BACP Website IFW website Conclusions from the Guys What drives our decisions and the part fear and social media plays The role of third party help – Want to work with Producer Tommo and a like minded team? Come and have a chat with Ovation A challenge to fellow financial planners – how often do you talk to clients about ensuring their spending is aligned with their values? We have a great back catalogue, if you enjoyed this episode, you might appreciate Episode 55 Overcoming Anxiety with Nick Elston Nick Elston is an award winning mental health speaker and speaking coach. Founder of Forging People helping others overcome anxiety to unleash their voices. Come and connect with Nick Elston on LinkedIn for more information.…

The Financial Wellbeing Podcast

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Episode 106 – Does More Money Equal More Happiness? 26:58

1 year 전26:58

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26:58

Episode 106 – Does More Money Equal More Happiness? The guys dive into the age-old question: Does more money equal more happiness? Join them as they navigate contrasting findings of renowned academics Daniel Kahneman and Matthew Killingsworth. Get ready to challenge conventional wisdom and discover the key question we should all be asking in the pursuit of true financial wellbeing. As ever a thought provoking episode with a light-hearted #tightasstommo money saving tip. Welcomes & Introductions The Financial Wellbeing Book has been updated and re-issued Want to work with Producer Tommo and a like minded team? Come and have a chat with Ovation What’s on Todays Podcast? Exploring the age old question, does more money make you more happy? Tight Ass Tommo A recap of the #tightasstommo origin story Featuring a grocery theme with the avoidance of brands, the world food aisle in supermarkets and shopping around. Top tip – Check out Your Prime on Amazon, for exclusive offers Does more money make you more happy? Research by Daniel Kahneman states – after a certain level, more money doesn’t make you more happy. However, research by Matthew Killingsworth says – people with more money did report being more happy. Daniel Kahneman Professor at Princeton University, Nobel laureate and Co-authored “Thinking, Fast And Slow.” Conducted a 2010 study with Angus Deaton titled “Does Money Buy Happiness?” surveying 450,000 individuals. Aimed to offer a definitive answer on money’s relationship with happiness. Identified two wellbeing types: Experienced and evaluated. Low income associates with low wellbeing. Evaluated wellbeing rises with income, peaking at $75,000. Conclusion: High income correlates with life satisfaction, not happiness. Matthew Killingsworth University of Pennsylvania researcher. Conducted a study based on data from over 1 million reports by 34,000 employed US adults. Criticized previous studies for not collecting real-time data on experienced wellbeing. Used smartphones to gather genuinely in-the-moment responses. Results aligned partially with previous studies: Evaluated wellbeing increases with income. Conclusion: experienced wellbeing also rises with income, without limit. Two respected academics, two surveys suggesting the opposite thing. What happens next? Adversarial Collaboration – they focused on the disagreement in their findings Their conclusion They both had wrong assumptions. Turns out some people are always unhappy and some are always happy Link to Episode 104 – Crack the Happiness Code with Set Point Theory Conclusions From the Guys Asking does more money make us more happy is the wrong question. We should be asking what makes us happy first, and then seeing how our approach to money may help us achieve this. Do you have any financial wellbeing questions you would like us to answer? Or do you have a #tightasstommo money saving tip you would like to share with our listeners? If so, let us know by going to Twitter @Finwellbeing or email – contact@financialwell-being.co.uk…

The Financial Wellbeing Podcast

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Episode 105 – Stress on our Finances with Sonya Lutter 40:43

1 year 전40:43

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40:43

Episode 105 – Stress on our Finances with Sonya Lutter In this episode, we sit down with Financial Psychology expert Dr Sonya Lutter. Delving into the root causes of our financial decision-making, from the impact of societal expectations on our spending to the role of inner conflict and psychological stress on our financial choices. With some great exercises you can explore with your partner and yet another brilliant #tightasstommo money saving tip, this is an episode not to miss. Introductions The Financial Wellbeing Podcast has been going for 8 Years Want to work with Producer Tommo and a like minded team? Come and have a chat with Ovation What’s on Today’s Podcast? Interview with Financial Psychologist and founder of The Financial Therapy Association in the USA, Sonya Lutter Tight Ass Tommo Avoid the sneaky January price hikes with streaming services Ring providers to get lower costs ( from Episode 95 with Paul Lewis ) Interview with Sonya Lutter Bridging the gap between therapy, counselling, coaching and financial planning. What is at the root of our bad money making decisions? We act how others think we should – often in conflict with our own values. Inner conflict and psychological stress In fight or flight mode blood is not pumping through our brain to aid thinking – when stressed we are protecting ourselves in the moment, not thinking long term. The disconnect between what we do, due to how we perceive others think we should act, versus acting on our own personal values. Why it’s hard to be content with what you have Your friends friends have more impact on your happiness than a salary increase. So pay attention to how your friends make you react. Happiness doesn’t just happen, it takes effort How joint bank accounts lead to better relationships – talking about money together Exercise for couples – tell your partner about your earliest money memory Suggestions for financial advisors to help make an impact in their clients lives Conclusions from the guys Get past superficial thoughts and get deeper understanding of your core values Another exercise for couples talk about your values individually compare each others values to find common ground and outliers compare common ground with current spending Dr Sonya Lutter is Director of Financial Health and Wellness Director of Financial Health and Wellness at Texas Tech University School of Financial Planning and founded the ELITE academy to help bridge the gap between financial planning and mental health. Come and connect with Dr Sonya Lutter on LinkedIn for more information.…

The Financial Wellbeing Podcast

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Episode 104 – Crack the Happiness Code with Set Point Theory 33:43

1 year 전33:43

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33:43

Episode 104 – Crack the Happiness Code with Set Point Theory All the guys are back in this episode and exploring the Set Point Theory of happiness and its links to financial wellbeing. With the usual #tightasstommo money saving tips with a festive twist and genial waffle we have a lovely episode for you . . . Welcomes & Introductions Want to work with Producer Tommo and a like minded team? Come and have a chat with Ovation Interested in reading Chris Budd’s books? They can be purchased here on Amazon. What’s on Todays Podcast? Exploring our relationship with money thorough Set Point Theory We have spoken about this before in Episode 39 – Theories Of Happiness Tight Ass Tommo Featuring charitable donations, secret Santa’s, making gift’s double up and selling your parents vinyl records! David is no longer writing scripts for long running TV series Doctors – leading to exploring the bereavement of loosing a sense of identity, a topic we spoke of in detail with the brilliant interview from Amy Florian in Episode 65 Set Point Theory We reach adult life with a set level of happiness, and whilst we can move around this level we return back to the set level. Agreement of definitions; Wellbeing = long-term Happy / Sad = short-term We get used to the feelings of happy/sad and return back to our set point To get back to our set point we often spend money – as we found out in Episode 64 The Financial Wellbeing Junkie What can we do for that short-term hit and avoid emotional spending? The link to financial planning and working on our relationship with money. Short term spending can prevent long-term happiness. Where does our set level of happiness come from? 50% is inherited 10% from our circumstances 40% from our intentional activity This 40% is the part we can influence by understanding ourselves – what is a healthy relationship with our finances, so we can do more what is a bad relationship with our finances for us so we can work on improving Tips on how to purposefully improving our intentional activity. Conclusions From the Guys Do you have any financial wellbeing questions you would like us to answer? Or do you have a #tightasstommo money saving tip you would like to share with our listeners? If so, let us know by going to Twitter @Finwellbeing or email – contact@financialwell-being.co.uk…