At our recent Employee Wellbeing Forum, we covered the topic of Breaking the Spending Spell: How to uncover hidden influences for wiser financial choices. We were fortunate to be joined by Simon Russell, founder and Director of Behavioural Finance Australia, who talked about the spending versus saving mindsets and getting more happiness and life satisfaction from the same amount of expenditure, without making big sacrifices.
With a background in behavioural finance, Simon touches on how our psychology can interfere with our everyday financial decisions. He also shared 3 components about getting more satisfaction, happiness or wellbeing per dollar:
- Change the timing of your spending
- Change the composition of your spending
- Identify and find savings in psychological blind spots
If you would like to access the presentation and discussion shared at the Employee Wellbeing Forum, you can access the resources via the links below:
- View the recording of our Employee Wellbeing Forum on Breaking the Spending Spell
- Download Simon Russell’s presentation slides about Breaking the Spending Spell
About Employee Wellbeing Forums
Our Employee Wellbeing Forums are held monthly and cover a range of topics to support employees to prioritise their health and wellbeing.
The Forums provide practical discussions, resources, and information to empower employees to access support services and learn wellbeing strategies to implement into their daily routines.
For details about upcoming Employee Wellbeing Forums, access the Health & Wellbeing category in Upcoming events.
To watch past Employee Wellbeing Forums, visit the Past events page and search ‘health and wellbeing’.
Additional wellbeing support
Check out the Financial Wellbeing Program with Money101 available to you and your family members. August’s topics are, “Do you salary sacrifice? A certain (HELP) debt might not be happy about that” and “Super beneficiaries – the ties that bind”.
If you are seeking more information about improving your mental health, check out the resources from our Employee Wellbeing Programs, including our Employee Assistance Program (EAP). The EAP aims to assist you in meeting any challenges or demands you may be facing in your work or personal life. For short-term counselling and coaching, book a consultation here or call 1300 687 327 for immediate support.
Employees can also access webinars and resources for free on the Converge International portal as part of our EAP, including their monthly online magazine, Flourish. Access this month’s edition of Flourish for tips to reset and retune your finances.
Disclaimer
This article, the “Breaking the Spending Spell” presentation and the Financial Wellbeing Program do not aim to provide personal financial advice. The content is designed to provide you with financial education to enable you to make better financial decisions.