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Ep. 110 Cash Clarity: Are You Afraid To Check Your Bank Account?
In this Cash Clarity Edition I’m sharing 3 practical steps to help female entrepreneurs overcome anxiety about checking their bank accounts.
From awareness to positive habits and creating a financial cushion, you’ll get actionable strategies for building money confidence.
Take a listen for quick, effective tips to transform your relationship with money!
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Afraid To Check Your Bank Account?
This is the Your Money Your Life podcast, Cash Clarity Edition, where you get a micro money tip so you can get the money when in five minutes or less.
I’m your host Aimee Cerka. After over 10 years in the personal finance industry, and multiple personal financial and medical crisis, I was fed up with the lies that are being shouted from the rooftops, by the gurus and the media. So now I make money simple so that you have the confidence that you need to, to handle the money thing without sacrificing your lifestyle.
If you’re a female entrepreneur who wants to make more money and are ready to eliminate fear, stress, struggle, frustration and guilt, from your finances, in all the areas that they affect. You’re in the right place. Welcome. I’m so glad you’re here.
Working with female entrepreneurs, many of my clients feel anxious about the thought of checking their bank account, regardless of how much money is actually there. So today, I want to share with you three steps to fix this fear that I found after working with over 100 clients, my courses and programs we haven’t met. I’m Aimee Cerka your go-to Money Confidence Coach for making money simple, with straight to the point strategies all so that you can make more money in less time. Okay, so let’s get to it.
Three Steps to Financial Freedom
What are the three steps that you can do to fix this fear this anxiety around checking your bank account, regardless of how much money is actually in there? Well, the first step is creating awareness, you have to become aware that this is a problem. Because if you’re just avoiding your bank account, and you don’t understand why we’re avoiding our begging count, then you’re not able to actually like fix the problem, right?
Step 1: Acknowledge the Fear
Okay, we can’t actually get past this until we understand like, “Oh, hey, this is what we’re doing.” Right? So let’s just start acknowledging that this isn’t this is here, like whenever I think about checking the bank account, there’s this anxiety this, there’s this fear that shows up. Okay?
Step 2: Create a Positive Habit
So the second thing that you want to do is you want to create a positive habit around it. Okay. So I call this my daily Money Minute. And ideally, I want you to do this, like Monday through Friday, okay.
That’s why it’s called a daily Money Minute, but we also prioritize the rest, which is why it’s not seven days a week. But anyways, here we, what I want you to do, I want you to log in and check that bank account, okay. But then immediately after that, I want you to go and visualize whatever the next thing is that you’re working towards. Okay.
So for a while for us, we wanted to buy a new vehicle, I wanted a Ford Expedition. So we would log in and check the bank account, because I do this as well, just like I teach my clients, right? Login, check the bank account, doesn’t matter how much is in there, right? Check the bank account, and then immediately go look at for expeditions.
Well, now I had my expedition for several years. So now I do the same thing with property because I would love to have a couple acre ranch homestead property. Okay, I live in Texas.
All right, we got to have a ranch. So every single day, we log in, check the bank account, then spend a minute looking at what we want. It doesn’t have to be perfect. But what we’re doing is we’re tying the positive effect of seeing the bank account with what we want, doesn’t like have to be exact, just looking at the process.
Not every expedition I looked at was exactly like what I wanted. Not every property that I look at is exactly like I want. And it doesn’t have to be exact for you as well.
You can look at vacations, maybe you want to take a vacation, maybe you can look at like outsourcing help. Maybe you want somebody to help around the house, a housekeeper, a stunt double as we’ve heard them called like, you need another version of you to go do the things that you don’t want to have to do whatever it might be that you’re working towards, look at the bank account, then look at that. Okay, that’s your second step, we’re creating that positive cycle, okay.
Step 3: Build a Financial Cushion
Now, the third thing that I want you to do is create a cushion. Because oftentimes that fear and anxiety about checking your bank account is like, “Okay, what if it goes to zero,” right? And then there’s overdraft fees, and all those things.
The solution that I teach inside my signature budgeting programs, both personal and business budgeting, we do this on both sides, okay? Create a cushion. So instead of having all of your savings in your savings account, you have a minimum cushion.
I‘ve started with 250 to $250. Before, you can do $500, you can do $1,000, whatever amount you want. Put have that in the checking account, and that’s your cushion. So when you do the budgeting and we look at things we know that technically we’ll say that $500 is zero, right?
That’s technically zero, but you have that $500 to fall back on. In case you forget about something in case you go over budget in case of an emergency, whatever it might be. It’s there to keep you out of the threat and it’s going to help with your confidence.
Money Management System
Again, do this on both the personal and the business side. It works really well. Okay, so keep the cushion. But like the caveat to that is, you cannot be budgeting you can’t have your money management system as I like to call it done off of your bank account balance that is not budgeting, that’s not having a money management system.
So this cushion solution here for the fear of checking your bank account is like a pro step within our money management system that I teach you how to do, because we have to be able to maintain our budget. Okay, just gotta put that little caveat on there because this is not like that solution. Isn’t the end all be all fix, we still have to manage our money.
Pro Tip: Cash Flow Calculator
Okay. Now, instead of trying to watch 100 videos to try and piece together the step by step strategy you need, why don’t you just grab my cash flow calculator. This is the calculator that I use for my signature Money Mastery Academy members to help them see where their cash cash flow potential is at and what they actually need to work on to truly see those consistent cash flow months, all with top 12 simple questions. So if you want access to that, just drop a “cashflow” below and I’ll send it to you directly and Messenger.
This episode originally aired on YouTube but don’t worry, all of the resources and support options I mentioned are hanging out in the show notes for you. And of course if you have any questions, please reach out to me by Aimee Cerka on Instagram and that link is below as well.
