Even in 2022, money seems taboo. It’s private, rude to talk about (at least we’ve been told that for a long time) and judgmental. How many times have you mentally classified someone as “burdened” or “terrible with money”? But the state of our personal finances is inextricably linked to our mental health, and a new wave of financial wellness gurus are on a mission to get us, and women in particular, to be more open about it.
From the FinTok sensation to the budgeting pro, whether you’re trying to save for a house, digging into an ISA, or getting your hands dirty with crypto, these are the money gurus who will help you get back in the black . Spoiler alert: no money shows up here.
Bola Sol is a math and finance graduate turned financial coach who published her first book How To Save It last year. It’s a guide to budgeting, paying off debt, and getting started with investing. “I want people to be less anxious about their financial situation,” she says. “Whether you’re paying off a lot of debt or saving for something substantial, it’s important that you feel calm in the process.”
His top tip for achieving financial wellness in 2022? “Check your balance and transactions every day. It’s a truly humbling experience because changing numbers tell a story about how you spend. The changes you will see will help you re-evaluate your spending habits regularly. When it comes to budgeting, “it’s hard to ignore everything,” she concedes, but it could be as simple as deciding to cut takeout – have you ever calculated exactly how much This Deliveroo habit is costing you every month? “Try to taste the pleasure of cooking. I used to be a take-out junkie, but I’ve learned to love cooking a meal. It can be quite a calming experience. It’s easy to tell ourselves that we don’t have time to cook but we take the time to catch up with people, scroll through social networks and watch our favorite shows so that we can also take the time to make our own meal. Plus, when you cook regularly, those takeaways seem all the more deserved.
USP: The Money Trauma Specialist
Catherine Morgan is a financial abuse specialist and trauma-informed financial coach, which means she focuses on the emotional side of money. She also hosts the podcast In Her Financial Shoes which aims to help women take control of their finances and become more financially confident. What does financial wellness mean to her? “Learning to live without shame, blame or guilt around money. It can really open up opportunities for personal growth and well-being,” she says. “In order to thrive with our money, we need to separate our meaning of itself money. It can help with things like charging what we deserve, not sticking our heads in the sand, or taking responsibility with the money.
His best financial advice for 2022? “Protect yourself against any sudden loss of income by creating a financial freedom fund.” “Start small and use spending rounding apps to help you get started.” Next, identify any money leaks you have by printing out a list of your direct debits and standing orders. Ask yourself how important they are, and if canceled, immediately reallocate that money to a new savings pot to give it a new purpose. Identify an area of over budget and focus on reducing it. Then decide where you are going to redirect that money. If you don’t redirect it, you don’t save money.
USP: The “FinTok” sensation
Forget fintech, Gen Zers is all about #fintok – there are over 770 million views of the hashtag on TikTok. Poku Banks is a finance and accounting student who started making personal finance videos on the platform before going to college. “I realized I was about to step into the real world without knowing how to get a mortgage, manage debt, invest to beat inflation rates, or start a business. I started to reading books and listening to podcasts, then condensing the information into digestible 30-second videos that get straight to the point. It now has over 340,000 subscribers, with content covering everything from “What’s NFTs?”, to why you should delete Apple Pay and hilarious RPGs, using fun analogies that break down complicated topics. “My biggest piece of advice for anyone trying to improve their finances is to be selfish – do everything you can to find information. Unfortunately, school won’t teach you the right concepts that apply to adult life like credit, mortgages, investing and money management, so it’s up to you to take control.
USP: the defender of money
Ellie Austin-Williams is a financial educator and founder of the blog This Girl Talks Money. Its goal is to get people to talk about money more openly, so that there is more transparency. “I’m convinced that talking about money — something we often dodge because it’s awkward or uncomfortable — can have a huge impact on our financial well-being,” she says. “Set aside some time each month to deal with money, both to deal with the practical and mental aspects of it. Having dedicated time to think about your finances and with a friend, partner or family member, talking about how you feel about money can be hugely beneficial to your own mental well-being and the health of your relationship, and try to avoid using phrases like “I’m terrible with money.” “, she adds. “Our mindset and our attitudes towards money have a direct impact on our financial well-being, because our thoughts often become our actions. Make the most of the technology out there to make money management stress-free. There are many ways to automate your savings and investments, so explore the options and set up your savings to set aside money each month automatically. “Monzo and Starling are my favorite digital banks, and tools like Chip and Plum can help with automatic check-in. Your future self will thank you.
USP: The Money Empowerment Coach
Melanie Eusebe is director of the Accenture consulting firm and founder of the Money Moves community. Her new book Financial Wellness and How to Find it is inspired by her own journey to achieve a healthy relationship with money. After a 15-year career in banking, she left to start her own business and says she suddenly realized her own financial well-being was poor. In the book, she shares tips for resetting that relationship.
“Financial wellness is about being empowered to have meaningful and impactful conversations with yourself and others about your money. I really encourage having genuine conversations with your partner, your kids, your boss, your bank, your accountant, your friends, and of course, yourself,” she says. “This time of year, I say always tie your money to your goals – quantify in money and time what your goals cost. Ask yourself what you want to do with your time and life, and how does your financial situation currently support it? If you want to retire at 40, what are you doing today with your money to contribute to this goal? Once you’ve done this, share your results with a “money partner” – a partner or friend with whom you have a safe space to share your money goals and concerns. »
Money Talks: Four More Resources
Melanie Eusebe has a guide to understanding your emotions around money and redirecting your relationship with it, drawing on her own personal experience as a banker who realized she didn’t have her own “financial freedom.” .
The “couch to 5k” app for money management. Financielle is a financial wellness app designed by women for women, with tools to help you set goals and track your progress, plus a 30-step Money MOT.
When Clare Seal found herself £27,000 in debt, she decided to share her journey out of the red via her Instagram @myfrugalyear (first anonymously) and wrote a book about it. In her latest title, she breaks down five simple, achievable steps to take charge of your finances.
Plum is an automatic savings app that connects to your bank account and sets money aside automatically using an algorithm, while providing features like a real-time view of your daily expenses and easy ways to invest with as little as £1