Are Money Coaches the Best Financial Accountability Partners?

Have you made financial goals but are struggling to achieve them? Do you know where you want to go financially but are not sure how to get there?  A financial accountability partner may be exactly what you are looking for. Find out why money coaches are the best financial accountability partners.

What is accountability?

Accountability is being responsible to someone when trying to achieve a goal or complete a task.  You can be accountable to yourself (internal accountability), but you are more likely to be successful when accountable to someone else (external accountability).

Taking self-responsibility for your actions is a form of accountability when trying to achieve your goals. Self-responsibility can be empowering as you feel in control of the outcome of your actions.

Working with someone and knowing that they have a vested interest in your goal achievement can help to keep you motivated to achieve your goal.

Financially, you may be accountable to your partner or spouse or you may choose to work with a financial accountability partner.

Why does accountability work?

Accountability works because it clearly outlines the outcome. Working with an accountability partner can help keep you consistent and committed to your goals.

It is also harder to get distracted or give up when someone else is keeping you accountable.

What is a financial accountability partner?

A financial accountability partner is someone who keeps you accountable for your financial goals.  It is someone who knows you personally (or gets to know you) and can help keep you motivated and committed to your desired outcome.

An accountability partner will not only check in with you regularly on the progress of your financial goals but a good financial accountability partner will also challenge you in meeting your goals.

Your financial accountability partner could be someone who has the same goal as you. In this case, you can work together to elevate each other.

Or you may choose to work with someone who has already achieved the goal you seek.   Having already achieved the goal, your accountability partner can help you avoid some of the pitfalls and to be prepared for some of the setbacks.

A financial accountability partner will not do the work for you. But they can help to keep you motivated, provide resources, strategies, and support along the way to your goal.

Why do I need a financial accountability partner?

You are more likely to reach your goals when working with someone to keep you accountable.  Therefore, you are more likely to reach your financial goals when you work with a financial accountability partner. 

According to a study conducted by the American Society of Training and Development (ASTD), committing to someone about your goal increases your chances of achieving it by 65%. And if you make a specific accountability appointment with someone, your chances of achieving your goal increase to 95%. 

If you have tried to budget or take control of your money but find yourself getting stuck, frustrated, or worse yet, giving up, then you need a financial accountability partner. 

You may be very surprised at what you can achieve (or how fast you can achieve it) when you have someone in your corner helping you along the way.

Why is a money coach the best financial accountability partner?

A money coach is the best financial accountability partner because they work one-on-one with you to achieve your financial goals. Financial coaches (also called money coaches) are also often someone you respect and want to work with. This is a key characteristic of a good financial accountability partner relationship.

They build a relationship with you and get to know your financial goals.  But your money coach is not just your cheerleader. 

They will provide you with an unbiased opinion and tough love when you need it. A money coach can help you determine what your limiting beliefs are and will assist you in working through the excuses holding you back from achieving your financial goals.

Not only will a money coach help keep you accountable and motivated, but they will also provide you with strategies to reach your financial goals.  This is something you will not get when working with a spouse or friend for accountability.  

Money coaches are great at providing financial accountability!

Next Steps

Whatever your financial goals are, you will need to take action to achieve them.  If you are struggling to take action or be consistent with your goals, then an accountability partner may be exactly who you are looking for. 

Friends and family may be able to help keep you motivated but a financial coach can provide you with so much more. A money coach can help you get clear on your goals and how to take control of your money.

So if you are ready to achieve your financial goals, click the link below to begin working with a money coach now. Are you ready to hire your financial accountability partner?

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