Think Yourself Happy

Welcomes and Introductions

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

What’s on Today’s Podcast?

Exploring the issue of thinking – is it something that just happens or do we have some control over it so we can improve our relationship with money and wellbeing?

Tight Ass Tommo

Go and watch women’s sport, a great way to see quality sport at a fraction of the cost.

Chris’ Good News

A new feature, do share your name ideas for future episodes in the comments below! This time, a sauna in Somerset that promotes social wellbeing.

This Episode – Think Yourself Happy

How do we think, what gets in the way and how can we think better?

The Questions That Unlock Real Happiness

Thinking well begins with asking the right questions.

Try asking yourself:

• What really matters to me?
• What brings me joy and meaning?
• Whose expectations am I trying to meet?
• Will this decision make me happy in the long term?

One of our advisers describes this as “daring to dream.” It is the courage to ask honest questions, even when the answers might challenge the path you are on.

The right questions bring not confusion, but freedom.

Thinking Tools That Make a Difference

A few simple shifts in perspective can make a big difference.

• Look beyond first impressions. If something seems like the key to happiness, pause and ask, What happens next?
• Spot your zero. Notice one thing that could cancel out your progress — the habit or belief that quietly undermines your wellbeing.
• Focus on what is truly yours. Choose goals that reflect your own values, not those that rely on the approval of others.

When your goals come from within, they lead to satisfaction that lasts.

Conclusions From The Guys

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Episode Transcript:

Introduction

David Lloyd (Host):
Hello avid listeners, and welcome to another episode in our long-running Financial Wellbeing Podcast. I’m David Lloyd, your genial host — well, not always genial, for reasons that may become clear shortly.

Today I’m joined by two people who are far more than guests. They are fundamental to this podcast and to Ovation Finance itself: Chris Budd and Tom Morris.

Tom, there’s a very special reason I’m letting you introduce yourself first today. So — who are you?

Meet the Hosts

Tom Morris:
I’m Tom Morris. I’m a Chartered Financial Planner and, as of very recently, the Managing Director of Ovation Finance.

David:
So you’re the boss of everything now? Everyone bows as you walk into the office?

Tom:
No comment.

But seriously, I’m incredibly proud. I’ve taken over from Adrian, who’s done a phenomenal job over the last eight years, having taken the reins from Chris before him. Adrian’s still very much involved, focusing on technology and how it can enhance what we do for clients — freeing up more time for the human side of financial planning that we talk about so often on this podcast.

I’ll also brag just a little: within my first two weeks as MD, Ovation won a national award — Firm of the Year for our size category. Entirely down to the foundations laid before me, of course… but I’m still taking the credit!

David:
As you should — you are the boss now.

That other voice you heard earlier belongs to Chris Budd, the very first Managing Director of Ovation Finance. Chris, for anyone new to the podcast, tell us a little about yourself.

Chris Budd:
I wrote The Financial Wellbeing Book back in 2015, founded Ovation 25 years ago, and started this whole “financial wellbeing” journey. It’s a strange but very proud feeling to see how well the company has done since I stepped back.

David:
Great foundations — power behind the throne, perhaps?

Chris:
Not a chance.

A Milestone for Financial Wellbeing

Chris:
I do want to add something about that award. The judges said they chose Ovation because of its commitment to financial wellbeing.

That is huge. It means that financial wellbeing is now part of how excellence in financial planning is judged in the UK. That’s a real shift in the profession.

David:
And while you’re modest about it, Chris, you absolutely helped bring financial wellbeing into the mainstream.

Chris:
I’ll take all the credit. Someone recently called me the “grandfather of financial wellbeing” — not sure how I feel about that…

Today’s Topic: Thinking

David:
Right — let’s crack on. Chris, what are we talking about today?

Chris:
We’re talking about thinking — which might sound like an odd topic at first. But how we think, especially about money, has a huge impact on our wellbeing.

Much of our thinking is automatic. That’s where problems arise: habits, assumptions, behavioural biases. We act without reflection, often against our own long-term interests.

Today, I want us to explore whether we can improve how we think — particularly about money and happiness.

Tight-Ass Tomo Tip 💡

David:
Before we dive deeper, it’s time for a podcast favourite — the Tight-Ass Tomo Tip, where Tom shares a money-saving insight.

Chris, do you have one?

Chris:
Not exactly — but I’ll share something different afterwards.

David:
In that case, I’ll go first. My tip? Stop working.

I’ve done very little paid work recently and — twice now — I’ve received unexpected tax rebates because I overpaid tax based on previous income assumptions. So yes, my money-saving tip is: give up work.

Tom:
I’m not sure that’s scalable advice…

My tip is very much based on lived experience: go and watch more women’s sport.

I took my family to see England vs Scotland in the Women’s Rugby World Cup. For under £50, four of us watched outstanding rugby in an incredible atmosphere. The value for money compared to men’s professional sport is phenomenal.

Beyond that, women’s sport offers positive role models, genuine connection with fans, and a welcoming, family-friendly environment. It’s good for your wallet and your wellbeing.

A Moment of Positivity

Chris:
I want to quickly share something uplifting. There’s a lot of negativity and “rage bait” online — people deliberately stirring fear and outrage for clicks.

To counter that, I want to share positive stories.

Recently, I visited a community farm in Somerset where a young group has set up a sauna — not to make money, but to improve social wellbeing. People gather, talk, connect, and support each other. It was genuinely inspiring.

I’d love to occasionally bring stories like this into the podcast — small, real examples of wellbeing in action.

David:
I think that’s a brilliant idea.

Why Thinking Matters for Financial Wellbeing

Chris:
One of the five pillars of financial wellbeing is creating a clear path to identifiable objectives. To do that, we must first think clearly about what we want our future to look like.

That requires knowing ourselves — know thyself. But distractions make that hard: social comparison, expectations, status, fear of being selfish.

Short-term happiness is easy. Long-term wellbeing takes effort — and thinking.

The Power of Space, Listening, and Questions

Tom:
Some of the best thinking happens through conversation. Often, my role as a financial planner isn’t about money at all — it’s about being a safe space where clients can talk and think without judgement or interruption.

David:
Learning to listen — really listen — is one of the most valuable skills we can develop. Even silence has its place.

Chris:
Exactly. And good thinking also requires space. For me, dog walks are ideal — no distractions. Thinking doesn’t thrive when we’re multitasking.

And then there are questions. Simple, challenging questions. For example:
Will achieving this actually improve my wellbeing?

That takes courage.

Mental Models for Better Thinking

Chris:
There are some helpful mental models we can use:

• Hanlon’s Razor: Don’t attribute to malice what can be explained by ignorance.

• False Causality: Just because two things occur together doesn’t mean one causes the other (e.g. wealth ≠ happiness).

• The Scientific Method: Test ideas before committing fully.

• Second-Order Thinking: Consider consequences beyond the first outcome.

• Multiply by Zero: Identify one factor that could negate all wellbeing gains.

• Intrinsic vs Extrinsic Motivation: Are you doing this for yourself — or for approval?

These frameworks help us challenge assumptions and think more clearly about the future we’re planning.

Final Thoughts

David:
This has been a wide-ranging conversation, and it feels like we’ve only scratched the surface.

Chris:
A great starting point is Time to Think by Nancy Kline. We’ll also include links in the show notes to talks and podcasts we’ve mentioned today.

Closing

David:
Thank you for listening to the Financial Wellbeing Podcast. We hope you’ve found this episode as thought-provoking as we have.

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