Don’t let your Chimp take charge of your money

Don’t let your Chimp take charge of your money

Right now in the UK there’s a frenzy of drivers queuing for fuel. Whilst there’s no actual shortage of fuel – just a shortage of HGV drivers to transport it to petrol stations – people are responding emotionally to the Government telling us “don’t panic buy” and the contrasting media coverage of queues at forecourts. This has inflamed the situation and we’re seeing similar results to the lockdown stockpiling of March 2020.

The emotional reaction of many people to this situation makes me think of “The Chimp Paradox”, a concept created by Professor Steve Peters in his bestselling book of the same name. The concept aims to simplify complex neuroscience (the activity of different parts of the brain) into a framework that’s easy to grasp. I frequently use The Chimp Paradox when I coach people on their decisions around spending, saving and investing.

read more


Financial support during COVID19

Our relationship with money is challenging at the best of times. But right now, with reduced salaries, business losses, savings being depleted and stock markets falling sharply, it's testing the financial health and anxiety levels in all of us. While there's a lot of support and help out there, it's not always easy to navigate when we're emotionally charged.

Dr George Callaghan and Simonne Gnessen were asked to put together a webinar to help people through this difficult period, in particular to recognise that they have substantial personal resources and energy they can draw on during this challenging time. It's aimed at employers, employees and self employed business owners. 

read more


Digital banks helping people manage money mindfully

Digital banks helping people manage money mindfully

Do the names Monzo, Starling, Atom Bank and Revolut mean anything to you?

I often discuss with my clients how these type of digital banks help make money management more accessible and fun than a traditional bank by using your smart phone to track your spending. 

These digital banks offer easy-to-use budgeting tools, instant notifications when you spend and straightforward ways to save. And this is all available at your fingertips, via your mobile phone.   

They’re also helping to create conscious, mindful spending. 

read more


Seven ways to make 2020 the year you get your finances in order

Seven ways to make 2020 the year you get your finances in order

There’s no better feeling than being in control of your money. However much or little of it you have, these 7 tips will help you get organised and plan for the year ahead. Don’t worry if it takes a couple of months to put it all into practice – try setting a goal of mastering a new money habit each week. By the time 2021 rolls around, you could have your money management totally nailed. 

read more


Ditch New Year’s Resolutions – develop good habits instead

Ditch New Year’s Resolutions – develop good habits instead

Lose weight! Get fit! Start saving! 

It’s that time of year again – the time of New Year resolutions and goal-setting. This year, though, let’s do something different and focus on habits instead. 

Think of a goal as a result you want to achieve. And habits – the things you do regularly without even thinking about it - as the process that will get you there. Of course, goals are crucial in helping you determine the direction you want to do, but it’s far more important to spend time designing the right process. 

With habits, thinking small can be the best way to bring about big change. Behaviour Scientist at Stanford University, BJ Fogg, invented the method of creating Tiny Habits. His philosophy is that motivation is only temporary and the easiest way to make a habit stick is to tack it onto an existing habit. BJ Fogg describes a tiny habit as a behaviour you do at least once a day, that takes you less than 30 seconds and one that requires little effort.

The habit-formation technique of ‘pairing’ is one form of automation that I personally use. When I turn on my computer in the morning, I check my bank account online. It’s a manual action but it’s so ingrained in me now that it’s an automatic habit – I do it without thinking.  

My work as a financial coach is often focused on working with people who want to change their financial results, sometimes having buried their head in the sand with their finances for several years. This usually involves helping them change their behaviour with money and form new, positive habits that requires small and consistent action – small, because it’s more achievable; and consistent, because this helps habits ‘stick’.  

read more



Self-assessment and tax relief on charitable donations

Self-assessment and tax relief on charitable donations

While December is a month of splurging, January is typically associated with cutting back – whether that’s on food, alcohol, or spending.

If one aim this year is to improve your financial situation, increasing income is just as important as reducing spending. One area often overlooked is finding ways to claim everything you’re entitled to. This is especially important if you’re one of more than 10 million people completing their self-assessment tax return ahead of the 31 January deadline. 

Self-assessment 

Self-assessment is a system used by HMRC to collect tax. If you’re an employee, tax is usually collected automatically from your monthly salary and shows up on your payslip. But if you’re self employed, or have additional sources of income such as savings interest or rental income, you have to declare your income to HMRC and offset against that any expenses that attract tax relief. The more tax relievable expenses, the less tax you have to pay, which means more money in your pocket.

So when you’re completing your tax return it pays to make sure you’re claiming all the tax relief you’re entitled to. 

read more



Changing Financial Behaviour

Changing Financial Behaviour

I've been a great fan of Pete Matthew at Meaningful Money, who shares my passion in delivering financial education to the masses and helping people build a better financial future for themselves. I often suggest his podcasts or videos to clients to listen to, and would strongly recommend taking a look around his site and, if you're interested in learning how to invest, signing up for his free 10 day email course.

This week, I was delighted to be inverviewed by Pete for his latest Meaningful Money podcast, as part of his season covering the subject of behavioural finance. In this interview I talk about the power of coaching and how we also need to address our emotional relationship with money to create a secure path towards our goals. I also share some tips and insights.

You can listen to it by clicking on the audio link above (the interview starts about 6 minutes into the recording) or via the Changing financial behaviour page on the Meaningful Money website. If you scroll down the page on the Meaningful Money website, there's also a transcribed version of the podcast and a list of resources that I mention during the interview. Please do take a look at Pete's website, as there's tons of valuable resources on there. 

read more


Are you thriving or simply surviving?

Are you thriving or simply surviving?

I was interviewed by a journalist recently who wanted to write an article about ‘financial therapy’ - a combination of financial advice and therapy for unhelpful money behaviours - that is currently popular in the US.

The article - Do you need financial therapy? – was published by The Guardian this week. While I don’t describe myself as a therapist, my work often involves helping clients address the emotions they experience surrounding the subject of money and helping shift unconscious patterns of behaviour around money.

As well as interviewing me about my work, we did some work on the journalist’s relationship with money so that she could experience what I do. She’d never before given much thought to her relationship with money.

What was revealing was that she can get herself out of trouble but can’t maintain that forward momentum once it no longer feels like a problem. We did an exercise where I got her to personify her relationship with money, and what came to her was ambivalence, disinterest and discomfort about engaging with money. We realised that her focus was on survival: getting through the month, paying off debts, but not on thriving.

read more


Coping with money worries

Coping with money worries

The words ‘money’ and ‘worries’ go together so often they can seem inseparable. For many people, their relationship with money is fraught with anxiety. In Sheconomics we talk about ‘Money Anxiety Disorder’ (MAD) – a fixation with money worries and a persistent sensation of simply not having enough. I also come across something I call ‘net worth anxiety’ – where people assess themselves at a certain stage of life and compare themselves to friends or colleagues or to their own expectations, and feel that they’ve fallen behind.

Money worries can leave you trapped in a relentless cycle of anxiety.

read more





‘Retail therapy’ not a myth—we spend when emotional

‘Retail therapy’ not a myth—we spend when emotional

By Marianne Curphey
Published: 15 April 2014

Think about the last time you went shopping for no particular reason. Perhaps it was a sunny Saturday afternoon, maybe just after hearing some excellent news. Or maybe it was a rainy, cold day, and you had just been through a breakup. Whether you're fuelling your good disposition or aiming to make yourself feel better, your mood has more impact on your spending than you may think. But there are ways to fight the urge to splurge.

read more



Spring clean your finances

Spring clean your finances

We’re all for setting realistic, achievable goals so here’s a simple springtime challenge for you.

Pick one of these 10 suggestions and decide to do it. If it helps find a friend or partner, pick a task you both need to do and do it together. Sit down one evening, open a bottle of Rioja and browse price comparison websites together. Or take turns to help sort each other’s paper mountains over a packet of chocolate biscuits.

Do whatever you need to do to make the tasks more palatable and then decide on one action - one small sweet step at a time. Never underestimate the power of doing what you say you’ll do…we guarantee it will put a spring in your step.

So, are you ready ...?

read more


Smoothing your financial ride

Smoothing your financial ride

Suddenly it’s December again and Christmas is coming hurtling towards us in a blur of sparkly lights and parties and last minute shopping, making excessive demands on our budgets. That’s how it often feels – to have come suddenly at us, even though December follows November each and every year.

One of my clients, Anna, is taking Advanced Driving lessons and her instructor had said that the most common word in accident reports was ‘suddenly’: ‘suddenly the van came hurtling round the corner’; ‘the car ahead braked suddenly’. Anna was learning that Advanced driving skills are all about anticipation - looking well ahead, adjusting your behaviour to ensure a smooth ride. Things rarely happen ‘suddenly’ if you’re anticipating well. She realised that ...

read more


Do you have a high tolerance for low pay?

Do you have a high tolerance for low pay?

Are you someone who doesn’t live up to your earning potential? Try our Sheconomics quiz to find out.

Women in particular often undervalue their worth and dread asking for pay rises or increasing their rates. We happily give away our time and skills at bargain prices because we don’t trust that we’re worth more.

If you can identify with this, here’s a trick to help you convince yourself that you’re worth whatever you want to earn:

read more


Pay more into your pension to save your child benefit

Pay more into your pension to save your child benefit

The government’s just announced that parents who are higher rate tax payers (currently those earning more than £43,875 a year) will have their child benefit axed from 2013. The benefit will be stopped even if only one parent falls into that tax bracket. This will affect families with only one parent working the most. Hmm… I can see this affecting lots of women.

But… wait for it, there’s some good news.

read more