The Financial Wellbeing Podcast

Episode 93 – Permission with Joy Lere Welcomes & Introductions Featuring: Ovation Finance – click here if you would like to talk to Ovation Finance about your financial planAnother golf recap The IFW – click here for more information about the Institute for Financial WellbeingFWB books – click here to purchase your copy of The Financial Wellbeing Book and support the charity Penny Brohn What is todays podcast all about? The guys have a chat with clinical psychologist Joy Lere, about the the role of permission when it comes to our happiness No Shizzle Sherlock Time is your friend, impulse is your enemy Jack Bogle #TightAssTommo Don’t purchase without a price tag – but you will end up with a comfy tush! Tip of the week – navy wash, wash your clothes whilst you have a shower/bath Interview with Joy Lere Introduction, who is Joy and what does she do in her role as clinical psychologist? Talking about money is still a taboo Shaping Wealth – Providing training for financial advisers to leverage behavioural finance Elaborating on Money is psychology The knowing/doing gap – people run financials with more than just the numbers What does adaptive mean when it comes to finances? What it means for different people in different situations What life are you giving permission to yourself to have? How much time do you spend looking to others to give you permission Not being aware you need permission Mute the outside world and consider what we want, what do I really believe I deserve Self-sabotage Be aware that everyone else lives a story we know nothing about What can someone do to create better financial decisions around permission How do I know what I deserve? Let struggle and pain live alongside joy. Conclusions from the guys Dr. Joy Lere is a licensed clinical psychologist and co-founder of Shaping Wealth. She has held research and clinical positions at Penn Medicine Princeton Health, Children’s National Medical Center, and the Department of Defense and has served as an Assistant Clinical Professor in Clinical Psychology at George Washington University. She earned her Psy.D. at George Washington University. Links: Substack: https://joylere.substack.com/ Twitter: @joylerepsyd Linked In: Joy Lere, Psy.D. – https://www.linkedin.com/in/joy-lere-psy-d/ Shaping Wealth: www.shapingwealth.com Website: www.joylere.com

Episode 92 – Five Tips To Help With Framing Bias The guys are here to explore the concept of Framing Bias. Sharing tips around awareness so we won’t be led, but use Framing Bias to drive actions that lead to wiser decisions for our financial wellbeing. Come and have a listen, with the usual No Shizzle Sherlock and some scraping of the barrel #TightAssTommo tips . . . . Welcomes & Introductions Featuring podcast listeners at the PFS conference this month, the next financial wellbeing book and a £10 trip to Paris? If you have a better book title, do let us know on Twitter @FinWellbeing No Shizzle Sherlock Nobody went broke taking a profitBernard Baruch An obvious No Shizzle, but not always easily done. #TightAssTommo Listen as the guys really scrape the bottom of the barrel with army uniforms and robo vacuum cleaners! A top tip from Christiaan Coolen at Ovation Finance for your next holiday – Find a trusted house sitter Todays Topic – Framing, the bias around how information is presented Information can be presented in different ways to get different awards Managing expectations Producer Tommo’s Wellbeing Champion of the Year Award, helps in getting clients prepared to talk about their finances – the expectations around the conversations you will be having with clients. Framing influences decisions in ways we don’t always intend We frame our future around what we can currently afford. We should start conversations about the future on wellbeing, not money Money is the engine of wellbeing Top 5 Tips around Framing Bias – Base buying decisions on need, rather that on weather you are getting a bargainKeep eye on data being given for past investment fund performanceConsider if the advice around a product being given is positively framed? Clean questioning – asking a question which is not leading, nor does it have your valuesRe-frame in a positive way If you cringe at what you did – you are moving forward Link to episode 67 – Exploring Paths to Happiness with Dr Elia Gourgouris Retirement Framing Conclusions from the guys If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop If you would like to get in touch with Ovation, click here to visit the website email enquiries@ovationfinance.co.uk or call on 0117 942 4333 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

Join the guys as they have a ‘live’ chat around ESG and investments. ESG is a nuanced topic – so we have the award winning expert Clémence Chatelin to help make sense of it all. Now, break out your crystal balls for No Shizzle Sherlock and enjoy a cheeky #tightasstommo money saving tip in the latest episode . . . Welcomes & Introductions Featuring live TV, a Wellbeing Champion of the Year and a deer! Big congratulations to Tom Morris. A well deserved win for his work as director at the Institute for Financial Wellbeing, as presenter on The Financial Wellbeing Podcast and beyond. What is todays podcast all about? The guys unpack what ESG means and how it can be put into practice The No Shizzle Sherlock Test Buy low, sell high, repeatAnon Sounds easy right? The guys explain why most people are super unsuccessful #tightasstommo Batch cooking, no dog food waste and a brilliant tip from Colin Lowe using test cars to save money on chores Interview with Clémence Chatelin Introduction, how Clémence took her passion for financial planning and now brings sustainability into the investment process What does ESG stand for? A closer look at each area, ethical, sustainable and governance ESG is a tool to help look at funds, but can be used differently by different people What does as asset manager do? Ethical aspect – avoiding the worst with negativity screeningassessing well managed sustainability Looking for a positive impact in the world, but companies are run by humans and humans are flawed. Invest to help direct a company look for opportunities to improve where possible Anecdotal evidence of companies engaging with investors, but the news is not well publicised. Buying into a sustainable fund is less about investments, but more about the stewardship and impact What is stewardship? CCLA, small stakeholder group with a BIG voice, a definitive group with set values Why doesn’t everyone go for sustainable investing? Shareholder voting – be savvy on the wording and avoid the greenwashing Conclusions It is less about what is in your portfolio and more about what the asset manager lobbies – need to work towards real world changes If you would like to explore what Clémence Chatelin is doing at CCLA, click here to head over to the website. 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 If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop

Episode 90 – Why Are We So Rubbish With Money? The guys explore why our brains are just not wired to deal with our finances. So . . . what can we do about this? Have no fear, they also have some helpful tips alongside numerous #tightasstommo money saving tips! How many do you already use? Welcomes & Introductions Featuring tech issues, Ovation Finance and the real talent behind this podcast: Tammy Devonald No Shizzle Sherlock What is comfortable is rarely profitableRobert Arnott Everybody has different risk levels – for more information, check out Episode 36 – Understanding Our Attitude to Risk with Neil Bage #TightAssTommo Featuring – going out to save money and roll on deodorant samples!Chris Budd shares 5 top tips – do you already use any of these? Let us know on Twitter – @finwellbeing Thank you to Rich Ellis for the top tip – click on this link to find out more about the Split Wise App Todays Topic – Why are we rubbish with money? Ovation clients are a lot less rubbish – come and find out why over on the Ovation website Putting what we talk about in this podcast into practice New Financial Wellbeing theory – our brains are not wired to deal with money Quick recap – self-determination theory: Ep 38 – Keeping It Fuzzy with Greg DaviesEp 77 – Self-Determination TheoryEp 83 – Social Comparison with Neil Bage Recent history: The lack of financial education in the UKThatcher & changes to our finances, we became responsible for our own finances1991 Robert Maxwell incident led to further protections with unintended consequences We don’t have competence because it has only been in the last couple of decades we have needed to manage our own pensions Autonomy: Lack of education Society > we are steered towards thinking we never have enough money Relatedness: Difficult to think of our future selves We are not wires to think this way We are not motivated to do things for our future selves Financial wellbeing = financial options for your future self Conclusions from the guys So . . . is there anything I can do about this? Education – listen to this podcast, and others such as Pete Matthews Word of warning, financial education can often be leading you to buy something, so be careful Engage a financial planner who looks at cashflow planning. Someone who will manage money now and in your future. An adviser who is not just advising you on your money. If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop If you would like to get in touch with Ovation, click here to visit the website email enquiries@ovationfinance.co.uk or call on 0117 942 4333 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