Five Tips To Help With Framing Bias

The guys explain what Framing Bias is and share top tips around awareness. If we are not led, we can use Framing Bias to drive actions for wiser decisions around our financial wellbeing. Come and have a listen, with the usual No Shizzle Sherlock and some scraping of the barrel #TightAssTommo tips . . . .

Welcomes & Introductions

Featuring podcast listeners at the PFS conference this month, the next financial wellbeing book and a £10 trip to Paris?

If you have a better book title, do let us know on Twitter @FinWellbeing

No Shizzle Sherlock

Nobody went broke taking a profit

Bernard Baruch

An obvious No Shizzle, but not always easily done.

#TightAssTommo

Listen as the guys really scrape the bottom of the barrel with army uniforms and robo vacuum cleaners!

A top tip from our very own Christiaan Coolen at Ovation Finance for your next holiday – Find a trusted house sitter

Todays Topic – Framing, the bias around how information is presented

We have spoken about Framing Bias on The Financial Wellbeing Podcast before, have a catch up and listen to the brilliant Neil Bage give an explanation in Episode 65

Information can be presented in different ways to get different awards

Managing expectations

Producer Tommo’s Wellbeing Champion of the Year Award, helps in getting clients prepared to talk about their finances – the expectations around the conversations you will be having with clients.

Framing influences decisions in ways we don’t always intend

We frame our future around what we can currently afford.

We should start conversations about the future on wellbeing, not money

Money is the engine of wellbeing

Top 5 Tips around Framing Bias –

• Base buying decisions on need, rather than getting a bargain
• Keep eye on data being given for past investment fund performance
• Consider if the advice around a product being given is positively framed?
• Clean questioning – asking a question which is not leading, nor does it have your values
• Re-frame in a positive way

If you cringe at what you did – you are moving forward

Link to episode 67 – Exploring Paths to Happiness with Dr Elia Gourgouris

Retirement Framing

Conclusions from the guys

If you would like to purchase a copy of The Financial Wellbeing Book please click on this link to visit Penny Brohn UK shop

If you would like to get in touch with Ovation, click here for more information, email enquiries@ovationfinance.co.uk or call on 0117 942 433

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