Episode 41 – Motivation & Money
What doesn’t necessarily motivate us to work harder? Money! Chris, David and Producer Tommo look at the theory behind what will motivate us and how it might change how we look at money. They take a practical look at the areas of financial well-being that link back to motivation and fulfilment in life. We also have listeners questions and the ever popular #tightasstommo tip.
Welcomes & introductions
Tip for creative listeners
This episode – what motivates us?
- A clear path to identifiable objectives
- Control of daily finances
- Know that we can cope with financial shocks
- Financial options
- Clarity & security for those we leave behind
Financial Questions answered -the difference between yield and return
Charity shop shenanigans & watercress
Tip of the week – Who needs a cleaner?
What motivates us in life and how it connects to wellbeing
What can we do to motivate ourselves?
The effect money as an incentive has on wellbeing
Where does the carrot and stick approach come from?
Algorithmic jobs – oil refineries, administration and mince meat
The incentive was to work harder and get paid more to buy more stuff.
Why is this old system flawed?
Heuristic jobs – problem solving
Fulfilment is the incentive for problem solving work.
Voluntary work, when paid makes it feel like work and spoils it.
Saving a pot of money versus a vision of the future to save for
Have a picture of what you are saving for.
Find a company that shares the same values as you to feel at home.
We work harder when the reward offers fulfillment
Do you have any financial wellbeing questions you would like us to answer? Do you have a #tightasstommo money saving tip you would like to share with our listeners?
If so, let us know and they could feature on a future episode. Contact us via Twitter @Finwellbeing or email – email@example.com
If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop