Financial Wellbeing: the Study and Application of How Money Can Make Us Happy with Chris Budd [Ep44]
Welcome to episode 44 of The Innovating Advice Show.
I’m joined by Chris Budd who is the author of The Financial Wellbeing book, host of the Financial Wellbeing podcast and founder of The Initiative for Financial Wellbeing.
If you tuned in to The Global Commute, you’ll recognize Chris from his financial wellbeing segments and for comically changing his shirt for each show.
In this episode, we’re chatting about financial wellbeing which is the study and application of how money can make us happy.
Chris shares the personal journey of why he wrote the financial wellbeing book, and why he donated the proceeds to a cancer center; we chat about money and happiness; what they’re building at the initiative for financial wellbeing and he shares a bit about the financial wellbeing podcast.
Chris Budd is an author of novels, The Financial Wellbeing Book and The Eternal Business. He is also a podcaster, producing the Financial Wellbeing podcast and a founder of the Initiative for Financial Wellbeing in the UK.
Chris is an experienced speaker, non executive director and is a qualified business coach (Advanced Diploma in Coaching And Mentoring from the European Mentoring And Coaching Council).
In 2000, Chris founded Ovation Finance Ltd and in 2018 he sold a majority to an Employee Ownership Trust (EOD), which now controls the company for the benefit of its employees.
Having transitioned his own business to an EOT, he now provides coaching and business consultancy to owners and employees who would like to follow this route.
He is also a cricket coach, plays guitar as well as Eric Clapton can sing, and has a frankly brilliant family. Or possibly a brilliantly frank family.
00:24 - Introducing Chris Budd
01:50 - What is financial wellbeing?
02:47 - What inspired Chris to write his book and donate the profits
07:35 - Know thyself
09:17 - The difference between intrinsic and extrinsic motivation
11:35 - Challenging your own assumptions: why everybody should have a financial planner (even financial planners)
15:30 - Being well trained
17:04 - The different skill sets needed as a financial advisor
22:12 - Why money is a tool that enables wellbeing
23:58 - How the Initiative for Financial Wellbeing came to be
35:50 - The Financial Wellbeing Podcast
37:57 - Rethink your financial advice process