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changing the way you think about 
There are so many myths about money it of course won’t be possible to cover them all in a short video blog series, but I wanted to address the three main myths which I think, once addressed, could have a positive impact on your life.

This week we look at our final Myth of the series – more money means more happiness.

Can't watch the video today? Why not read the transcript:

We all know in our hearts that this myth isn’t true but it doesn’t actually stop us trying to earn more money, trying to get ‘more stuff’ and, somehow, believing that this will make us happy!

Here’s a question for you though; it’s all very well talking about this ‘stuff’ but what do you actually do about it? 

We need some action that will help us to think more sensibly about our lives and about our money.

So here’s the concept, of which I’m sure many of you will have heard of before - The concept of Gratitude. 
The diagram is pretty straight forward (I am indebted to Carl Richards for it!) Put your name in the middle and you are surrounded by a circle of gratitude.  It’s almost as if gratitude inoculates us from the crazy sort of greediness that can take hold of us at times. I then suggest that you take the gratitude challenge. 

It takes about 21 days to change a habit – take a look the circle of gratitude or the Gratitude Habit website for a little more in depth background to this.  For 21 days you write down in a gratitude journal 3 very simple things that you are grateful for. I’m sure you’re grateful for your health, you’re grateful for your children, you’re grateful for so many, many things, so many blessings that we have all received.  Make sure you put these into your journal!

My belief is that in doing so, you will actually change your attitude towards your money and the way you connect your money to your life. What you are effectively doing is creating a different attitude towards your financial planning in your life.

My hope is that this will enable you to have or create something that is much more meaningful and much more about you, rather than some sort of crazy idea about having to have lots of Porsche’s in the drive and that kind of stuff…. Frankly, it’s a bit silly and not that all that meaningful!

I hope you find this blog helpful.  Please do let me know if you decide to take the Gratitude Challenge.  I’ll be delighted to hear from you. 



Welcome to the second of my mini video blog series on Myths about Money.

Myth number two is simply “Having fancy stuff makes us wealthy.” 

Not able to watch the video today? Read the Transcripton below:

Even saying it sounds ridiculous!

Nevertheless, many of us (and I am included in this) believe that the more impressive stuff we have, the wealthier we are.

If we stop to think about it, I think we know this is not true.

My Mum had a wonderful saying, she used to say “Oh yes, we know about them – it’s all kippers and curtains”.  What she was saying was look at those people, they live in a big house, it’s all beautifully impressive. On the outside they’ve got fabulous curtains, but in fact they’re having to live on kippers because they haven’t got any money.  Their net worth, their wealth, is extremely low. 

The question is, once we get into this mindset, what do we do about it? 

My thought is that we look at the examples that are open to us: Warren Buffet is worth something in the region of $80 billion, but do you know what salary he takes? Only $100,000 a year. In fact, he lives in an ordinary suburban house, he drives a five year old Ford, he’s just an ordinary guy, but his net worth is huge – and that’s the secret!

So how do we emulate that?  How do we realise that it’s our net worth that really counts for something rather than all the impressive things we have a tendency to surround ourselves with?

Here’s a thought.  What would happen if we actually had to write our net worth on our foreheads? It’s about being a bit more public about the decisions that we make around spending money.

How can we actually create a situation where we are making buying decisions that will help us rather than hurt us?  I think to some extent one of the things that could be helpful here is talking to a financial life planner.  Somebody who can actually say “Let’s look at your situation, let’s find out exactly where you are and let’s help you to make better buying decisions – less stuff and more substance.”

I hope that’s been helpful to you, it would be great to hear from you.  Let me know what you think and if you have an opportunity, do take a look at the references below.



Welcome to the third blog in my ‘Myths about Money’ mini blog series. This week I’m going to address the extremely common myth of “‘I don’t understand money!”.

Not able to watch the video today? Read the Transcripton below:

What this concept/idea actually does is to stop us from doing anything at all! We just get trapped in a sort of mental-prison continuously telling ourselves how we don’t understand money.  Let’s put a stop to that!
Here’s the question to ask yourself – “What would have to happen for me to become the financial director of my own life?”

In fact the answer is really, really simple. I didn’t say it was easy, but I promise you it is simple!

The first step that you need to take is to simply carry out a financial audit.  Make a list of your expenditure; I would strongly recommend that you divide that in to needs (that’s to say mortgage payment, council tax, food, so on and so forth) and wants (holidays, going out for meals, that kind of thing). It’s important to have a discussion around what is a want because sometimes you might find that what you believe is a want is actually a need and vice versa.

Next, you need to find out where your income is coming from; look at the amount of tax you’re paying, make a list of your assets and define any assets that are actually generating income. Once you have completed these two steps you will have created a reasonable financial picture.
But that simply isn’t enough!  

You need to decide for yourself (or talk with your partner) about what’s important to you and what you actually want to achieve in life. That includes right now, next week, next month, next year and in ten years’ time. 

People often do talk to each other about money but more often than not they don’t do anything afterwards. They don’t take action as a result!

To take action is absolutely the key thing. My belief is that 90% of the time you’ll probably need a third party to help you formulate some kind of a plan and then to help action it.

You’ve had the difficult conversation, so follow it up and act upon the information you’ve found out. By finding a way out of this self-imposed prison, we move towards freedom - freedom around our money and therefore freedom in our lives.

If you would like to have a no obligation conversation with me about how I might help you to move forward with your financial planning do please get in touch.



Book References:

All That You're Worth: The Ultimate Lifetime Money Plan by Elizabeth Warren & Amelia Warren Tyagi
(Simon & Schuster 2005)

How To Worry Less About Money (The School Of Life) by John Armstrong
(Macmillan 2012)