The Most Hated F-Word Shaun Maslyk

With Dr. Jenny Olson | Assistant Professor of Marketing |







Summary:







Dr. Jenny Olson explores the complexities of financial decision-making among couples. She talks about why people with different spending habits often end up together and what challenges that brings. Dr. Olson also explains 'financial infidelity'—that's when someone hides or lies about money matters.







Dr. Olson discusses the reasons people might hide their spending or debts, from wanting more control to simply trying to dodge an argument. She highlights the importance of having open conversations, really understanding your partner's financial perspective, and getting to the heart of their concerns.







She also sheds light on how income affects how generous we are and how we view our partners financially. Towards the end, she offers some practical tips on managing money better together, aiming for a relationship where both partners are on the same page financially.







BIO:







Dr. Jenny Olson serves as an Assistant Professor of Marketing at Indiana University’s Kelley School of Business. Her academic research delves into consumer behaviour within interpersonal settings, focusing particularly on two main areas: consumer financial decision-making—exploring how romantic couples navigate their financial choices—and social cognition and inferential processes—investigating how individuals assess others' consumption decisions. Dr. Olson’s influential work has been featured in esteemed journals such as the Journal of Consumer Research, the International Journal of Research in Marketing, and the Journal of the Association for Consumer Research. Her research has also attracted widespread attention from the media, with coverage in major publications including The Atlantic, Boston Globe, Chicago Tribune, Forbes, Huffington Post, New York Times, NPR, Time Magazine, and the Wall Street Journal, highlighting her significant contributions to the field of consumer behaviour.







Takeaways









Opposites often attract in financial decision-making within partnerships, leading to lower financial harmony and potential tension.







Confidence and perceived control play significant roles in influencing financial decisions within relationships.







Open communication and transparency are crucial for achieving financial harmony and aligning goals and values.







Financial infidelity, defined as intentionally engaging in disapproved financial behavior and actively concealing it, can have negative impacts on financial well-being and relationship satisfaction.









LINKS:









Dr. Jenny Olson's Website: CLICK HERE

With Emily Burnett | Writer | Consultant |







Summary:







Emily shares her journey from collecting insects for money as a teenager to understanding the impact of her entrepreneurial family on her financial mindset. She reflects on the wisdom of her 94-year-old grandmother, who values relationships and dreams over material wealth. Emily discusses the significance of facing reality and being intentional in life and money management. She highlights the benefits of making peace with your financial plans, such as finding peace and control in an often chaotic world.







Emily also discusses the resistance to budgeting and the importance of creating a personal financial oasis. She shares insights on helping those overly focused on budgeting and emphasizes the importance of embracing spending while being intentional. Additionally, Emily explores how shyness can affect financial decisions and the need to examine our financial roots.







At the end, Emily talks about her upcoming book, 'Dear Fellow Dreamer,' aimed at helping individuals who feel trapped in safe corporate jobs.







BIO:







Emily Burnett is a writer, consultant, and intentional money + life enthusiast. She spent years working in tech as a marketing technologist all the while dreaming of building her own thing. Emily left corporate in 2022 to travel and grow her financial coaching practice. Pursuing it full-time revealed that more than coaching she loves writing, speaking, and meeting people. She is the author of Dear Fellow Spender, written for the spender who typically avoids personal finance books, and is currently writing Dear Fellow Dreamer. She's on a mission to help entrepreneurs and dreamers get and stay intentional about what they're creating whether it's a meaningful life or a business of their dreams.







Takeaways









Money stories are powerful and can shape our mindset and relationship with money.







Having entrepreneurial role models can inspire and influence our own entrepreneurial spirit.







Prioritizing relationships and dreams can lead to a rich and fulfilling life.







Being intentional in both living and managing money can bring peace and control. Create an oasis of control in your personal finances to feel grounded and empowered.







Embrace spending and be intentional about how you spend your money.







Examine your roots and understand how your past experiences and beliefs shape your relationship with money.







Take risks and build a strong foundation to support your financial and personal growth.









Links:









Emily's Website: CLICK HERE







LinkedIn: CLICK HERE

With Abby Davisson | Author | Speaker | Entrepreneur |







Summary







In this conversation Abby Davisson explores the interconnection of love and money, challenging the flawed socialization that separates the two. It delves into the historical context of marriage and money, highlighting the importance of transparent conversations about money in relationships. The influence of upbringing and parents' careers on money mindset is discussed, along with the power of passing on stories. The journey of co-authoring a book and the impact of collaboration between individuals from different backgrounds is explored. The creation of a framework for decision-making, known as the Five C's, is introduced, with a focus on the challenging step of clarifying what's important. Abby discusses the importance of clarifying values and intentions in relationships, particularly when it comes to money. She emphasizes the need for individuals to understand their own values and communicate them effectively to their partners. Abby also highlights the impact of a lack of clarity on relationships and the importance of having difficult conversations. She shares insights from her work at the Money and Love Institute, which aims to help financial advisors integrate the elements of money and love in their conversations with clients.







BIO:







Abby Davisson has dedicated her career to helping others achieve their goals, first as a social innovation leader and now as an author, speaker, and entrepreneur. Prior to founding the Money and Love Institute, she spent nearly a decade driving social impact at global retailer Gap Inc., where she served as president of the Gap Foundation and co-founded the company’s employee resource group for working parents. Abby’s prior professional experience includes strategy-focused roles at Tipping Point Community, the NYC Department of Education, and The Bridgespan Group, as well as experience serving as an alumni career advisor and coach at Stanford Graduate School of Business. Abby holds a BA from Yale University and an MBA and MA in Education from Stanford University. She lives with her husband (who also studied with Myra at Stanford) and their two sons in San Francisco.







Takeaways









Love and money are deeply intertwined, and it is important to recognize and address their connection in relationships.







Transparent conversations about money in relationships are crucial for making holistic and informed decisions.







Upbringing and parents' careers have a significant influence on individuals' money mindset.







Passing on stories and values to future generations is a powerful way to shape their relationship with money.







The Five C's framework (Clarify, Communicate, Broaden Choices, Check with Trusted Resources, Consider Consequences) provides a structured approach to decision-making that considers both love and money.









LINKS:









Abby's Website for her book: CLICK HERE







Love & Money Institute: CLICK HERE

With Dr. Cahit Guven | Global XSBI Econometrician | Senior Lecturer in Economics







Summary







In this conversation, Dr. Guven discusses the relationship between happiness and financial decisions. He explores the impact of happiness on savings, consumption, risk-taking, and perception. Dr. Guven also highlights the collaboration between economists and psychologists in understanding the complex interplay between emotions and financial choices. The conversation delves into the role of self-control, the influence of unpredictable weather on happiness and financial behaviour, and the potential of using big data to improve well-being. Ultimately, the discussion raises thought-provoking questions about the connection between money and happiness and the importance of prioritizing happiness in financial decision-making.







Takeaways









Happiness has a significant impact on financial decisions, including savings, consumption, and risk-taking.







Collaboration between economists and psychologists is crucial in understanding the complex relationship between emotions and financial choices.







Perception plays a vital role in financial decision-making, and changing perceptions can lead to better financial outcomes.







Focusing on happiness and well-being can improve financial decision-making and overall life satisfaction.









LINKS:









Dr. Guven's Website: CLICK HERE







Dr. Guven's LinkedIn: CLICK HERE

With Chris Budd | Expert on The Relationship Between Money and Happiness | Author |







Summary:







In this chat, Chris discusses why feeling good about money matters and how we can rethink what success means when it comes to our finances. He shares his own journey to feeling financially secure and why having a sense of purpose is key to finding joy. Chris challenges the idea that setting specific money goals is always the best approach and introduces his four pillars of financial well-being: understanding what's true for everyone, what's true for you personally, what holds us all back from feeling happy, and what's stopping you individually from feeling happy. He also talks about how giving yourself permission to be happy is crucial, the benefits of financial coaching, and how money can be a tool for living a meaningful life. Plus, he gives us a sneak peek into his upcoming project, the Financial Well-being Pulse, which aims to shift the focus of financial advice from just dollars and cents to overall well-being.







BIO:







Chris Budd founded Ovation Finance Ltd, a financial planning practice, in 2000. In 2018, he sold a majority stake to an Employee Ownership Trust (EOT).







Chris now provides coaching and consultancy to owners and employees seeking to grow and develop. He authored "The Eternal Business," published by Harriman House in September 2018, and leads The Eternal Business Consultancy, offering advice and assistance to businesses aiming for long-term sustainability beyond the current owners.







Chris is a qualified business coach (Advanced Diploma in Coaching And Mentoring from the European Mentoring And Coaching Council), an author of novels and "The Financial Wellbeing Book," and the founder of the Institute for Financial Wellbeing.







He hosts the Financial Wellbeing podcast and is a seasoned speaker, addressing topics such as coaching skills for professionals, financial well-being, and employee ownership.







Takeaways









Financial well-being is about finding happiness and purpose, not just accumulating wealth.







Goals should be seen as steps towards purpose and happiness, not as the ultimate objective.







Success should be redefined to focus on personal fulfillment and making a positive impact.







Knowing oneself and challenging assumptions is crucial for achieving financial well-being. Take the time to understand what truly makes you happy and permit yourself to pursue it.







Money should be seen as a tool to support a happy and meaningful life, rather than the sole source of happiness.







Financial advice should prioritize clients' well-being and focus on their lives, rather than solely on investment portfolios.







Retail therapy and impulsive spending may provide short-term happiness, but developing healthier spending habits can lead to greater long-term well-being.







Building a happy and healthy relationship with money involves being kind, compassionate, and mindful of one's values and priorities.







Music experiences can be powerful sources of joy and can teach us valuable lessons about presence, connection, and the pursuit of happiness.









LINKS:









Chris' Books: CLICK HERE







Chris' LinkedIn Profile: CLICK HERE







Chris' podcast: CLICK HERE

With Dr. Mike Rucker | Organizational Psychologist | Behavioural Scientist | Author |







Summary:







This conversation is all about identifying and taking the steps to get out into the world to have more fun and how we can use our money as ways to allow more fun in our lives (and it does not need to cost lots of money). In this conversation, Dr. Rucker and Shaun discuss the importance of fun in life and how it can be pursued independently of money and power. They explore the limitations of pursuing happiness through external factors and the need for emotional flexibility. The conversation also touches on the challenges of finding fun in a busy life and the role of surprises and unexpected moments in bringing joy. They discuss the concept of the Fun Pyramid and how money can be used as a tool to facilitate authentic fun. Additionally, they emphasize the importance of finding fun in everyday life and how it can improve relationships and overall well-being. They also highlight the importance of being deliberate about incorporating fun into daily routines and the consequences of neglecting it. Finally, they talk about the importance of time affluence and creating lasting memories through fun experiences.







BIO:







Dr. Mike Rucker is an organizational psychologist, behavioral scientist, and charter member of the International Positive Psychology Association. He has been academically published in publications like the International Journal of Workplace Health Management. His ideas about fun and health have been featured in The Wall Street Journal, Washington Post, Fast Company, Psychology Today, Forbes, Vox, Thrive Global, Mindful, mindbodygreen, and more. He currently serves as a senior leader at Active Wellness and is the author of 2023’s top-rated happiness book, The Fun Habit, which is out now.







Takeaways









Finding fun in everyday life can improve relationships and overall well-being.







Learning how to spend your money on fun activities.







How fun is a key driver to living a good life.







Positional economics can help people access experiences they may not be able to afford on their own.







Being deliberate about incorporating fun into daily routines is important for overall happiness and productivity.







Creating lasting memories through fun experiences is valuable and can enrich one's life.









LINKS:









Website: Dive into the world of fun and exploration at Michael Rucker's website.







Twitter: Follow Michael Rucker on Twitter @performbetter for daily doses of inspiration and fun!







Facebook: Join the fun-loving community on Facebook at Mike Rucker, Ph.D.'s page.







Instagram: Explore the wonders of fun on Instagram with @thewonderoffun.







LinkedIn: Connect with Michael Rucker on LinkedIn at Michael Rucker's profile for insightful discussions and updates.







Pinterest: Get inspired by Mike Rucker, Ph.D.'s Pinterest boards at mikeruckerphd.