The Financial Wellbeing Podcast

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 hereFancy 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

Dive into a light-hearted exploration of what moderate success means, balancing ambition with well-being. Discover ten practical tips to define your success and embrace spontaneity, including the power of saying 'yes' and the joy of unexpected opportunities. Enjoy budget-friendly leisure suggestions like tribute bands and dining promotions to save money while having fun. The hosts challenge conventional notions of success, highlighting individual values and the importance of flexibility in achieving personal and financial goals.

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 hereFancy 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 SecurityFreedomPowerLove 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