Episode 94 – Why Wealth is Bad for your Health
Can wealth actually have a detrimental effect on our health? The guys explore what makes money so unhealthy, along with sharing some ideas to help create a better relationship with our finances. In addition to the No Shizzle Sherlock and #tightasstommo tips, we also have a little birthday flashback for Producer Tommo!
Welcomes & Introductions
- Washing fox poop off Luna the westie
- New year fitness challenge
- Birthday flashbacks
- Update on Chris’ latest book
No Shizzle Sherlock
“The only thing we know for certain about our plan for the future, is that it is going to be wrong”Carl Richards
A tribute to Paul Etheridge, from Clive Waller – “agree to give a talk on an unfamiliar subject six months ahead and you will become an expert when you come to do the talk!”
Paying annually or monthly for items such as insurance? Try and pay the annual lump sum as it will be cheaper than paying monthly over the 12 month period.
Today’s Topic – Stress is bad for our health: money is stressful. Ergo, money is bad for our health
Why is stress bad for our health?
- Integrative medicine
- The parallel between western medicine and most financial advisers
- Link to watch the Killer T Cell video
Why is money so stressful?
- The question ‘how much is enough’
- How cash flow planning helps
- Comparison theory
- The history of personal finance
- Our brains inability to picture our future selves
What can we do about money being bad for our health?
- Take the time to think about your relationship to money
- Get the help of a financial planner, one who at the very least does cashflow forecasting
- Plug alert – have they undertaken the Financial Wellbeing Certificate from the Institute of Financial Wellbeing
Conclusions from the guys
Getting a better relationship with money therefore, should involve talking to an expert: understanding what makes you happy; if you have behaviours working against you; any self-limiting beliefs to create a financial plan to make you happier not just wealthier.
If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop
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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 – firstname.lastname@example.org