The emotion of money

Last week, I talked about why differentiation is misunderstood in finance.

But even if you do stand out, there’s another mistake many financial brands still make:

they forget that money is emotional.

On the surface, money feels rational. Spreadsheets. Balance sheets. Forecasts.

But scratch the surface and you’ll find that money is wrapped in fear, pride, shame and aspiration.

Think about it. When was the last time you made a purely rational financial decision? Chances are, emotion crept in there somewhere.

Psychologists call it the affect heuristic. It’s the mental shortcut where emotions drive decisions more than facts.

And this matters because marketing is about influence.

And influence is about emotion.

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So, why do financial campaigns often feel empty?

Many financial campaigns still default to product-led messaging, like interest rates, transaction speed, portfolio tools or compliance strength.

Important? Sure.

But let’s be honest, rarely compelling, right?

When campaigns ignore emotion, they risk creating what behavioural economists call cold messages – communications that feel safe but fail to inspire action.

Your compliance team might be satisfied. But your prospective customers, not so much.

According to a Capgemini Loyalty Deciphered survey:

• 82% of consumers with high emotional engagement are more likely to stay loyal and
• 80% of executives believe their brand understands consumers’ emotional needs – but only 15% of consumers agree.

Yet financial marketing still leans heavily on product specs.

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Different businesses, different angles

Fintechs thrive on excitement. They often position themselves as liberators from clunky systems and outdated institutions. But emotion here isn’t just about novelty, it’s about empowerment. The best fintech campaigns make customers feel part of a forward-thinking movement, not just users of an app.

Advisory firms need to lean into reassurance. Their job is not to spark FOMO but to soothe anxiety. Good campaigns don’t just say “we grow your wealth”, they show how they protect your children’s future, give you peace of mind or make retirement feel possible.

Institutional players (asset managers, investment banks) can sometimes dismiss emotion as “retail marketing fluff.” But even B2B buyers are people first. And no CIO ever got fired for choosing the option that felt safest.

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The moral responsibility

Finance is different from other industries because money touches survival. Unlike buying trainers or tech gadgets, financial choices can change lives. That means financial marketers carry a moral weight.

This is where psychology meets ethics: using emotion to manipulate (fear-driven “don’t miss out” scams) corrodes trust.

But, using emotion to clarify and support decisions builds long-term loyalty.

It’s not about stripping emotion out of the funnel. It’s about choosing the right emotions – trust, security and confidence should be used over panic and shame.

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Two examples: Barclays & AMEX

A good example is Barclays’ long-running “Life Skills” programme. Instead of selling products, it tapped into young people’s anxiety about money and work. By creating tools, workshops and campaigns around financial confidence, Barclays connected with emotions before products.

It worked because it didn’t preach. It reassured. It built trust by recognising that money is stressful. And a brand that acknowledges that is much more likely to win the hearts of its target audience.

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Similarly, American Express’ “Don’t Live Life Without It” campaign leaned into the emotions behind experiences, like travel, dining and even everyday moments. It made the product secondary to the feeling of possibility.

It worked because it reminded people that money isn’t about transactions; it’s about the life you can live with it.

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Getting it right is so important.

According to Deloitte’s 2025 Global Gen Z and Millennial Survey, 48% of Gen Z and 46% of Millennials say they don’t feel financially secure. That’s not about basis points or product features, it’s about emotion.

If your campaigns don’t speak to those concerns, you’re missing the point.

This isn’t just about fintechs trying to woo new customers. It’s equally relevant for wealth managers, insurers or advisers.

Every financial decision carries an emotional influence.

Buying a new home isn’t just about interest rates – it’s about security.

Saving for retirement isn’t just about yield – it’s about dignity.

And yet, many campaigns seem to be doing everything they can to shy away from acknowledging this human layer, as if it’s too soft to belong in finance.

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Final thought

Emotion in money shouldn’t be a side note. It’s THE story.

If fintechs can inspire excitement, advisers can calm fears and institutions can build trust, they don’t just differentiate (see last week’s point), they resonate with their target audience.

Ultimately, rational might explain the decision. But emotion decides it.

Speak soon

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