Personal Finance Planning and the Power of Accountability

Personal finance planning success requires a lot of hard work, and there's no reason why you should do it alone. When you think about it, even if you can accomplish some great things on your own, how much more could you accomplish if you had someone holding you accountable to do your very best at all times? That said; let's look at some simple ways you can get some accountability behind you when it comes to succeeding with your personal finance planning...

Getting Help with Your Personal Finance Planning

One of the personal finance planning tips, which I give people, is to have a weekly or monthly meeting to evaluate the amount of progress made towards achieving their financial goals. All we are going to do now is just add one simple step to make sure that you evaluate your financial goals for the month and map out a plan for the next month. That simple step is to have someone to go over the progress with you.

The person may not be a financial expert, or contribute creatively towards the structuring of your financial plan, but just having someone there will give you a greater sense of responsibility. This is because at some level all of us are motivated by the drive to live up to the expectations which others have of us, which can be a good thing or a bad thing.


In this case, if you choose someone who supports you in accomplishing your financial goals and who will not allow you to slack off, the need to live up to expectations will work in your favor.

Who Will Be Your Personal Finance Planning Coach?

As you're selecting someone to hold you accountable for sticking with your personal finance planning goals, it's important that you choose someone who isn't too close to you such as your spouse. Instead, choose someone who will be objective enough to give you candid feedback and who will hold your feet to the fire without worrying about how it will impact your relationship with them. Also, don't worry about whether or not the person has financial expertise.

This person's function is simply to hold you accountable; the planning is up to you. As you work with your accountability partner, you'll find that your commitment to your goals will increase and you'll achieve them much faster than you could have on your own.