I have a folder on my phone with my bank app, Venmo, CashApp, and, of course, the numerous “buy now pay later” services (because how else can I afford Sunday Riley skincare without paying in installments?). The folder is aptly titled “Mo Money Mo Problems” which I thought was incredibly witty at the time of creation, but it’s actually pretty tongue-in-cheek in hindsight: I’m one of the 77% of Americans who’s extremely anxious about their financial situation.   

According to a survey conducted by Capital One, not only do these Americans report feeling anxious, but 58% feel finances control their lives and 52% have difficulty controlling their money-related worries. Preach. Nearly 70% of Americans are worried they won’t have enough money to retire, not to mention keeping up with the rising cost of living and managing debt. And you can bet your bottom dollar (sorry, I had to) financial stress is far-reaching into our everyday lives, impacting our mental health, sleep, work, and relationships. 

So how can we get a better handle on our financial woes? For Money Smart Week, we sat down with an expert: Chérie Austin, MBA, of Where Money Meets Manifesting. As a money coach and founder of her company, Austin helps people achieve financial freedom and deal with their emotions when it comes to leading their financial lives with total ease. And she knows what she’s talking about after spending over a decade in corporate finance and accounting, before leaving the corporate world in a girl boss-worthy pivot to help others loosen the emotional reins when it comes to their finances. 

Austin says we tend to get emotional about money because we make it mean something about us as a person. 

“We internalize these negative thoughts and feelings and begin to notice them in other areas of our lives,” she says. “Each time our brain finds evidence of these situations, the thoughts get reinforced, only worsening the negative feelings and deepening the ‘Money Fear.’”

Austin says reframing these negative thought patterns is incredibly helpful in de-escalating the emotions attached to them. Plus, it opens up the possibility for more neutral or positive perspectives.

“When we emphasize the negative and minimize the positive, it’s no wonder we are so emotional when it comes to money,” she says. “When my clients are able to integrate conscious gratitude for their wins (big and small), they experience a monumental shift in their relationship with money, and they can finally make significant progress toward ‘Money Freedom.’” 

Sounds pretty good, right? Here are Austin’s top tips for holding yourself, er, accountable when it comes to being smart about money (okay, I’m done now). 

1. Take a peek

Austin says the biggest mistake people make with their money is avoiding looking at their finances. She suggests finding a process that works for you and sticking to it. Avoiding looking at your bank account, she says, is a type of “Money Fear” and shows up as major negative emotions (stress, unease, overwhelm, regret, guilt), catastrophizing (assuming the worst), and ruminating (overthinking). 

“Getting curious about how your money is being spent (without judgment or shame) can cause a powerful shift in your financial well-being and get you on the path to Money Freedom,” Austin says. “Reviewing your finances allows you to see which areas are aligned (or misaligned) with your money goals and provides you the option to make different decisions moving forward.”

2. Start small

Austin says realizing you’re in the driver’s seat when it comes to your financial future is key. 

“You have control over the decisions you make and what Money Freedom looks like for you,” she says. “If your current money decisions cause you to be stressed or overwhelmed, you have the power to make different decisions moving forward.”

She advises people to get strategic—that is, what’s your exact vision of Money Freedom and what will it take to get there? Austin says it’s okay to modify your vision of Money Freedom as your life and priorities change and that regular review of your goals is important to make sure they’re still relevant.

“Decide what goal(s) you want to achieve and be specific (a SMART goals is a helpful tool),” suggests Austin. “Also understand the why of these goals (why they are important to you and why do you want to achieve them?). You will begin to see where your current money decisions are aligned or misaligned and that can determine areas of opportunity for you to be more conscious and intentional going forward.”

3. Start to develop better habits

Austin says in addition to reviewing your finances regularly, there are a lot of good habits she recommends her clients get into: being more intentional with money decisions/actions (i.e., eliminating impulse purchases), having an emergency fund (she recommends three to six months worth of living expenses), leveraging tax advantaged investment accounts (401k, IRA, Roth IRA, etc.), paying off credit cards each month, and paying off high interest debt (debt with an interest rate of more than 6%-8%) before choosing to invest.

4. Become a spreadsheet superstar

“Even though there are plenty of apps out there that automate the process, I would still encourage using Excel, especially in the beginning,” Austin says. “Excel allows you to see details you might gloss over otherwise, and it is much easier to customize to your personal preferences or unique circumstances.”

Austin adds that it’s important to remember you don’t have to do all this by yourself. “I often hear stories from new clients who have repeatedly tried to track their own finances using various methods, only to fall back into old habits, leaving them discouraged, apathetic, or feeling out of control,” she says. “Hiring a professional can be a great way to take the pressure off of you.”

5. Don’t believe the hype

Austin says one of her least favorite money narratives out there is that money is the root of all evil.

“This belief can keep them in a scarcity mindset, a place of lack, ultimately blocking their financial success and keep them stuck in Money Fear,” she says. “I like to remind my clients that money is neither good nor bad; it is inherently neutral—a tool to be used.”

Another common money narrative Austin says she sees in a lot of her clients is the belief that they’ll always struggle with money. “When my clients are deep in their Money Fear, any money obstacle (big or small) feels like an insurmountable challenge,” she says. 

6. Ask for help

Austin says her approach to helping others uses a holistic approach combining mindset (your emotional and energetic outlook), the money itself (your habits and literacy), and manifesting (having to do with your goals) in order to go from Money Fear to Money Freedom. 

“Aside from offering my financial expertise, a large part of being a coach is providing my clients with accountability, support, education where they might need it, and an objective point of view,” Austin says. 

If you’re curious about achieving total Money Freedom, Austin says she offers a three-month money mastery coaching program, beginning with a simple phone call, working on a “judgment free deep dive,” and ending in a peaceful place where money meets manifesting. 

“Overall, [this process] enables my clients to become more conscious and well-informed about their money decisions and to take control of their finances with confidence and ease,” she says. Sign us up.

To find out more info about Where Money Meets Manifesting, check out Austin’s website and Instagram or book a time to chat with her.