Episode 132 – Sense of Coherence

In this episode, the guys explore why some people seem better able to cope with stress than others, and what that might teach us about our relationship with money.

The conversation centres around a psychological model called Sense of Coherence. It may sound academic, but the ideas behind it are surprisingly practical. Can we understand what is happening? Do we have the resources to deal with it? And does dealing with it feel meaningful enough to deserve our attention?

Welcomes and Introductions

Chris Budd – Author of the original Financial Wellbeing book and founder of the Financial Wellbeing movement.

Tom Morris – Managing Director and Chartered Financial Planner at Ovation Finance. Bristol-based, chartered, B Corp Certified and proudly employee owned.

Fancy a chat with Tom Morris and the team at Ovation? Contact details here

Tight Ass Tommo

Chris has a suggestion for creating a nice surprise for your future self.

And Tom goes for the childhood favourite, blackberry picking – just remember to pick above dog height!

Why Does Money Cause So Much Stress?

Money worries do not only affect people who do not have enough.

Clients can also worry about whether they have enough, where they should invest it and what might happen if they lose it.

The question Chris asks is whether understanding how we respond to stress could help us develop a better relationship with money.

What Is a Sense of Coherence?

The model was developed by medical sociologist Aaron Antonovsky as a way of exploring why some people cope with stressful situations better than others.

Three Things That Can Help

The model describes three components of a strong sense of coherence;

Comprehensibility

Manageability

Meaningfulness

Where Financial Planning Helps

A financial plan can help bring structure to those unknowns.

It cannot guarantee that life will always go to plan. Nothing can.

But understanding where you are, knowing what resources are available and seeing how your money connects to the life you want can make difficult financial decisions feel considerably more manageable.