Peace of Mind Through Purpose: Why Financial Wellness Begins with Structure

Sep 17, 2025

At Waugh McDonald, we believe true financial wellness isn’t just about what you earn or own, it’s about how you feel. And that feeling, as Morningstar’s behavioural scientists Dr Danielle Labotka and Samantha Lamas have shown, is deeply tied to how you behave with money, especially when it comes to emergency savings. 

Their latest research reveals a surprising truth: even high-net-worth individuals can feel financially unwell. The disconnect between income and mindset is real. In fact, the presence or absence of emergency savings is often less about wealth and more about clarity, confidence and control. 

The Feedback Loop of Financial Wellness 

Morningstar’s findings suggest that financial wellness is shaped by both objective factors 

(like income and savings) and subjective ones (like financial satisfaction and perceived security). These elements form a feedback loop: good habits promote wellness and wellness encourages better habits. 

This is where Waugh McDonald’s approach shines. Our goals-based planning isn’t just a framework, it’s a philosophy. By modelling cash flows and aligning them with life goals, we help clients see their financial picture clearly. That clarity reduces anxiety and empowers better decisions. 

Clarity and Confidence Through Structure 

Our process begins with understanding what matters most to each client; family, legacy, lifestyle, philanthropy or business continuity. 

We then build a cash flow model that maps out how their resources support those goals over time. This isn’t a static spreadsheet, it’s a dynamic, living plan that adapts to change and uncertainty. 

Clients often tell us that this model gives them a sense of control they’ve never had before. They can see how much is enough, where the risks lie and what trade-offs are involved. 

It transforms abstract fears into concrete choices. And because our recommendations are rooted in quality, whether it’s the investment vehicles we use or the institutional-grade research we rely on, clients gain confidence that their plan is not only realistic but resilient. 

This disciplined approach is especially powerful in markets like Kenya, where trust in international systems can be fragile and get-rich-quick schemes abound. By anchoring our advice in structure and purpose, we help clients build not just portfolios, but peace of mind. 

Coaching for Confidence

Morningstar’s research also highlights the role of coaching in improving financial wellbeing. Techniques that reinforce positive behaviours, like regular check-ins, visualising goals and celebrating progress, can make a profound difference. 

At Waugh McDonald, we embed these techniques into our client experience. Whether it’s through planning meetings, quarterly updates, annual reviews or tailored communication, we ensure our clients feel supported, informed and in control.

If you’re seeking more than just numbers on a balance sheet,  if you want clarity, confidence and a plan built around what matters most, we’d be glad to guide you.
Start the conversation with us today at info@waughmcdonald.co.ke