The importance of value and wellbeing when making financial decisions

This guest blog was written by Chris Budd, who wrote the original Financial Wellbeing Book as well as The Four Cornerstones of Financial Wellbeing. He founded the Institute for Financial Wellbeing and has written more than 100 episodes of the Financial Wellbeing Podcast.

Sometimes, when we make major financial decisions, the question of money must come first. Specifically: “Can I afford it?” and “Is it good value?”

However, there are other times when this question of affordability and value for money gets in the way of good financial decisions. Here are a few examples, and some tips on how to make financial decisions that support wellbeing.

The endowment effect

There