She Strengthens

Breaking Free from Financial Deception

For many of us, the temptation to deceive ourselves about our spending habits is all too real. We justify unnecessary purchases, convincing ourselves that “just this one time” won’t hurt. But I’ve learned that a simple yet powerful tool can help us overcome this pattern: accountability.

The Power of a Money Buddy

About a year and a half ago, I started a money group chat with a trusted friend, Maria. We share our financial concerns and receipts with each other, providing a sense of responsibility and motivation to stay on track. Our similar upbringings, with parents who instilled a strong work ethic and frugal mindset, laid the foundation for our positive financial habits. However, we both had questions about appropriate spending, and our daily chats have been instrumental in clarifying these doubts.

Regular Check-Ins for Success

Maria and I schedule monthly budget reviews, using a spreadsheet to track our progress. This regular accountability has been instrumental in helping us recognize areas for improvement. Even if you don’t have a money buddy, setting up regular check-ins with yourself can be incredibly beneficial. As Paulette Perhach, a writer and author, notes, “Skip the self-hatred and just start looking at what went wrong and how you can make next time different.”

The Benefits of Social Accountability

Perhach, who participates in monthly money dinners with friends, emphasizes the importance of social accountability. By sharing financial concerns with others, we’re more likely to stay committed to our goals. Her advice? “People at every level talk about money, but the people who have wealth talk about it with the advisor they can afford to pay. Those of us who can’t afford financial advisors benefit from being honest, asking each other for help, and sharing our experiences.”

Honesty and Encouragement

With Maria’s support, I’m more honest with myself when I overspend. Our conversations are constructive, offering encouragement and alternative solutions. We haven’t needed to scold each other, as the mere act of reporting our spending habits has curbed our impulsive tendencies. As Perhach puts it, “It’s a relief to have space where it’s not just ok to talk about money — it’s the point of the gathering.”

Embracing a New Mindset

Give yourself permission to break free from old habits and seek out trustworthy individuals to discuss your financial concerns. You’ll be surprised at the positive impact it can have on your financial life. By embracing accountability and honesty, you can take control of your spending habits and build a brighter financial future.