We often think about money in terms of numbers, balance sheets and plans. But what if a big part of financial wellbeing isn’t about the numbers at all? What if it’s about what’s happening inside us and around us, shaping our decisions before we even notice?

That’s exactly what came up in a recent episode of The Financial Wellbeing Podcast, where Chris talked with behavioural finance expert Daniel Crosby about his new book The Soul of Wealth. Their conversation went beyond conventional money talk and touched on the psychological and social forces that quietly shape how we manage our money and how we feel about it.

Below are some highlights that resonated with us and why they might matter to you too.

Why comparison is so powerful

Most of us know the feeling of comparing ourselves to others: friends, family, neighbours, people on social media. We might think we are evaluating our situation rationally, but often comparison works on us at a deeper level, nudging our spending, saving and planning in ways we didn’t consciously choose.

This idea fits closely with themes we have explored in past podcast episodes, where mindset and environment matter as much as budgets and investment choices. When our reference point keeps shifting toward “more” simply because someone else has more, satisfaction tends to recede.

So a simple, helpful question to ask yourself is this:
Who am I comparing myself to, and does that comparison serve my goals and wellbeing?

This isn’t about self-judgement. It’s about awareness. Once you notice it, you can choose differently.

The company you keep really influences your money habits

Daniel made a point that we see again and again on the podcast: The people around us are often a better predictor of our behaviour than our stated goals or values.

Think about that for a moment. Our social environment influences how we spend, save, talk about money, and even how we plan for the future. If conversations with others are dominated by fear of missing out, short-term gains or keeping up with lifestyle expectations, it becomes harder to act in ways that bring genuine long-term wellbeing.

This does not mean making big changes overnight. It does mean being mindful about where you spend your time, which voices you tune into, and which conversations help you think more clearly rather than react more emotionally.

Connect more vividly with the future you want

One idea we often explore on the podcast is how difficult it can be to make good long-term decisions when the future feels abstract or distant.

Daniel talked about salience, how real or vivid something feels in your mind. Research suggests that the more vividly you can picture a future experience (like retirement, a lifestyle change, travel or time with family), the more likely you are to make decisions that help make it real.

So rather than thinking “I want a comfortable retirement”, try describing it in detail:

• Where are you living?
• What would a typical day look like?
• Who are you spending time with?
• What are you doing that brings you energy and joy?

This kind of narrative makes the future feel less like a far-off idea and more like a destination you are already moving toward.

Gratitude isn’t fluff, it changes how we relate to money

At first glance gratitude might seem like a “soft” topic. But the research is clear: small, regular gratitude practices can significantly increase wellbeing. This matters for money because it shifts your attention from what is missing to what already adds value in your life.

Simple ideas include:

• Writing one thing you are grateful for each day
• Sending a short thank-you note to someone who genuinely helped you in the past

These are not grand gestures. They don’t require big swings. But they can help you centre your financial choices around relationships and purpose rather than comparison and anxiety.

A gentle reflection for your financial wellbeing

If any of this resonates with you, here are a few things you might explore:

• Notice one comparison you have been making about money and ask what impact it has on how you feel
• Spend a few minutes describing a future scenario that feels meaningful to you
• If someone crosses your mind with a sense of gratitude, consider reaching out with a brief message

None of these are tasks to tick off. They are invitations to notice, reflect and connect.

Financial planning is more than choosing the right product or benchmark. It is about integrating your financial decisions with a life that feels purposeful and aligned to what is important to you.

As always, if these ideas spark questions or if you would like to explore how they connect with your own plans, we would be delighted to talk it through with you.

Warm regards,
The Ovation Team