Find an Accountability Partner

 Saving money and budgeting may come easy for some but can be a struggle for others. While you may have no problem restraining yourself from spending or overspending, there are some people who are very good at spending - and sometimes blowing money.

Find an Accountability Partner

No matter which category you fall into, I bet you know someone who is just the opposite. Maybe it's a spouse, a relative, a friend. These individuals can serve as accountability partners. Wikipedia describes an accountability partner as "a person who coaches another person in terms of helping the other person keep a commitment." 

If you are a spender, having an accountability partner who is more so a saver could benefit you greatly. If you are a saver, reach out to a spender you know and offer to be their accountability partner. What a wonderful opportunity to help yourself or someone else!

What does an Accountability Partner do?

You establish the rules.

Say the spender has a goal to spend less money on entertainment. The saver would be supportive and help keep the spender on track. Checking in, offering encouragement, sharing suggestions and recommendations can all be ways to help.

I remember talking with a colleague about a weekly savings plan. She shared that she started but had stopped contributing and also shared some of the things that she would do differently. At that moment, I decided to become an accountability partner/cheerleader. I shared what had worked for me and she thought it was a good idea. Sometime later she shared that she did as I suggested and was back on track. Every so often I will check in just to see how it's going and to offer motivation and encouragement.  See...it's not hard. Even minimal interactions can be just fine, but of course, consistency is key.

First, determine if you're a spender or a saver. Next, find someone you know that you can help or who may be able to help you.

If you're managing your money like a boss already, share the love and help others do better with their finances. If you need help managing your finances, find an accountability partner that you know, and trust.