Accountability Is A Scary Word
The power of accountability to get your money mindset and finances on track - and why we avoid it
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It's a spooky season and what’s scarier than being an adult in 2024? - being an accountable adult.
I don't like the cold, the rain or the noticeably shorter days. They quickly send me into a work from bed, Netflix in bed, stay in bed staring hopelessly into space, anxious spiral. Last week, after avoiding the gym for 5 days, following a full September hiatus, I could not drag myself out of bed to go. So I convinced my friend to go (lol) and then demanded she walk via my house to get me out - don't judge me, you've been there too! Then, I went another three times that week. And it got me thinking about accountability.
Clearly, I can't be accountable to myself when it comes to leaving the house to exercise in bad weather. But I show up here every two weeks without fail. I post on socials for my personal brand everyday. I get my work done. And occasionally, I check the state of my finances to ensure I can still function and meet my goals.
Accountability, much like motivation, isn't universal, nor is it ever-present. And rarely is anyone super disciplined in every single area of their life. Yet we still feel ashamed and reluctant to ask for help staying accountable when it comes to money. Let's explore what accountability can look like when it comes to improving your money mindset and reaching your life goals by staying 'on track' with your finances.
Can you count on you?
Accountability is taking responsibility for your actions and decisions. But it’s not just about self-reliance; it’s about having someone or something outside yourself that helps keep you on track. When we feel like we “owe” it to someone else, we tend to follow through more consistently. It’s easy to let ourselves off the hook, but much harder to let someone else down.
But maybe that’s why we avoid it. Think about how many fitness coaches, business gurus, therapists, marketing experts, nutritionists and financial influencers you follow on social media. How long have you followed them, scrolling endlessly through their content, thinking about doing one of their free plans, or even paying them for their services? How many have you actually signed up with and followed through? What if I told you, it’s not about the money. It’s a great excuse that we all use, but if you were truly ready to face all the real reasons, *cough* Accountability *cough*, that you don’t take action, I guarantee you would find a way to pay.
There’s real psychology behind why accountability works. We’re wired to care about our social connections, so when we’re answerable to others, it lights a different fire under us. That extra pressure can actually be a good thing. The power of accountability lies in that external reminder that you’ve got someone who’s cheering you on - and, if needed, nudging you forward.
Even if you're scared of being judged, you can flip that fear around. Instead of letting it stop you from asking for help, use it to take action. Sometimes the fear of what others will think can motivate you to step up your game and get things done.
Mind over money
How can accountability help you with your money mindset?
When it comes to money, we all have blind spots - areas where we avoid, deny, or even dread taking action. Accountability can shift that, and it’s simpler than you might think. You don’t have to fill out daily spending trackers, audit your entire lifestyle and send weekly updates for scrutiny and feedback from a ‘personal trainer for your finances’. Just talking things out, whether it's with a friend, mentor, or coach, can change the way you see and deal with your financial situation.
When you say your financial fears or goals out loud, they become real. Suddenly, that vague anxiety you feel about saving for a house, paying off debt, or investing doesn’t seem so impossible. It’s no longer something floating around in your head, where it can feel overwhelming - we all know inside voice isn’t the kindest. Speaking your financial goals into existence gives them weight, making it much more likely you’ll actually take the steps to achieve them.
Making progress with your finances
When someone else knows what you're trying to accomplish financially, you’re more likely to stay on track. Regular check-ins, whether weekly or monthly, act like little speed bumps that slow you down just enough to evaluate your progress. My favourite part is that they also help eliminate the shame spiral that so many of us associate with money (and our career, salary, weight, fitness, nutrition, studies, business growth…).
It might look like small steps forward, but those small steps add up. You see your progress, which grows your confidence and makes you want to continue. Plus, it’s not just about tracking; it’s about celebrating wins too. Maybe you saved £200 this month when you thought you’d only manage £50. Maybe you finally automated your savings. Maybe you said no to an impulse purchase that would have derailed your budget.
Those are all wins, and having an accountability practice gives you a reason to celebrate them. It helps you look back and see just how far you’ve come. This reflection motivates you to keep going, even on days when it feels tough. A person, journal or even digital tool is more likely to highlight your successes and force you to stop and smell the roses!
Here’s 10 - yes 10 - ways accountability can improve your money mindset so you can start seeing real progress with your finances:
Clarifies Goals: Sharing your financial goals with someone else helps you articulate and refine them, making them feel more tangible and achievable. You can’t get somewhere, if you don’t know where you’re going!
Encourages Action: Knowing someone else is aware of your goals motivates you to take consistent action toward achieving them. We inherently hate ‘failing’ publicly, might as well use it to our advantage.
Reduces Isolation: Discussing finances with others can alleviate feelings of shame or isolation, fostering a supportive environment where you can learn and grow.
Provides Perspective: An accountability partner can offer fresh insights and constructive feedback, helping you get out of your head and see your financial situation from a different angle.
Encourages Regular Check-Ins: Scheduled check-ins keep you focused on your financial goals and allow you to assess your progress regularly, helping you stay on track.
Celebrates Small Wins: Sharing successes, no matter how small, reinforces positive behaviour and builds confidence in your financial decision-making. Progress is the best motivator, after all.
Fosters a Growth Mindset: Accountability encourages you to view setbacks as opportunities for learning rather than failures, promoting a healthier relationship with money.
Promotes Financial Literacy: Engaging with others about finances can lead to increased knowledge and understanding of relevant financial concepts and strategies. Learning from others > scouring the internet and piles of books alone.
Builds a Supportive Network: Being part of an accountability group or circle creates a community that can share resources, tips, and encouragement along your financial journey.
Creates Commitment: When you have a set time to report on your progress, it adds a layer of commitment that can spur you to take actions you might otherwise avoid - ‘Manana, Manana’
Who you gonna call?
There’s no one-size-fits-all answer here. It could be someone who cares deeply about your success, like a close friend or family member. Or it could be a mentor or coach who’s been where you are and knows what it takes to achieve financial wellness. The key is that this person must be judgement-free and genuinely invested in your growth (So that’s family out for me then). You want someone who will listen, encourage, and hold you accountable in a way that feels supportive, not punitive.
Then there’s the option of paying someone to keep you accountable, like hiring a financial coach or advisor. And yes, people often wonder, “Why would I pay for that?” But when you pay for accountability, you’re also investing in your own success. It’s like paying for a personal trainer or a gym membership. You could exercise on your own, in your house or out in the park. But many choose to pay someone to force them into the gym at 5am and watch them do push ups, because having someone there to guide you, push you, and give you a structured plan makes all the difference. Similarly, with your finances, a paid accountability partner can help you stay the course, identify blind spots, and offer expert advice and experience, which will make your progress faster and life a little easier.
Squad goals
If you’re not quite ready for one-on-one accountability, consider starting or joining an accountability circle. These can be informal groups of friends or colleagues who meet regularly to discuss their financial goals and progress. Or they can be more professionally organised circles, sometimes even led by a coach.
Accountability circles tap into the same psychology that makes one-on-one accountability work, but with the added benefit of community. There’s something incredibly powerful about sharing your journey with a group of people who are on a similar path. They get it - they understand the struggles, the small wins, and the long game you’re playing with your finances. And that shared understanding makes the experience less isolating, which is huge when dealing with something as personal as money.
In the end, accountability, whether for your fitness, your work, or your money, isn’t about being perfect. It’s about creating systems that help you stay aligned with your goals. None of us are robots - we’ll all have days where we want to stay in bed and pretend everything’s fine (trust me, I get it). But with the right support, you can get back up, face your financial realities, and move closer to the life you want.
You got a friend in me
Ready to take the accountability plunge - or know someone who is?
I’m opening up 5 coaching slots to help you heal your relationship with money and supercharge your financial progress ahead of the new year.
I don’t believe in new years resolutions - they’re just an excuse to put off 10 weeks of progress you could be making, as we head into the most expensive time of the year. Yay - festive capitalism.