I’ve written about where to find financial accountability before, but that was back when I was still spending money like crazy and not very dedicated to getting my debt paid off. Since then, I’ve fallen in love with freelancing and I am working my way toward full-time self-employment.
In order to make my dream of self-employment become reality, I’ve got to get my debt paid down and my savings increased so I am financially able to take the plunge and quit my full-time job. With that in mind, I finally took my own advice and found a financial accountability partner for 2015.
So far in 2015, I’ve been able to pay off another credit card, and put a lot more “extra” money toward my debt than I did the entire year of 2014. Here’s how my accountability partner is helping me stay on track with my financial goals.
My accountability partner and I check in with each other via email at least once a week to report progress and any setbacks or challenges we may have faced. We also talk about our plans for the coming week and how we are feeling about our lives and debt situations.
So much of personal finance has to do with your emotions, so it’s great to have someone to open up to about your situation. One thing I love about my accountability partner is that it’s not someone I’m super close to in real life. My accountability partner doesn’t have a biased opinion about how I spend my money now or how I’ve spent it in the past.
Generally, my accountability partner and I try to stay positive when we are emailing each other back and forth. But we are both willing and able to give each other some “tough love” every now and then too.
In fact, this is one thing we agreed upon at the very beginning, we need to give each other tough love when we see signs of slacking or when one of us is having a personal pity party.
Emergency Contact During Times of Temptation
Everyone faces times of temptation every now and then. For me, my biggest temptations are going out to eat with my friends and spending money on new clothes and shoes.
For my accountability partner, her biggest temptation seems to be groceries and spending extra on things for her kids. My accountability partner and I are at different phases in our lives, but we always try to hear each other out and understand each other’s situations before offering advice, encouragement, or tough love.
With that said, whenever I’m in a particularly tempting situation, it’s nice to know my accountability partner is only a text message away if I need her advice and encouragement to stay strong an stick to my budget.
Overall, having an accountability partner has been immensely helpful to me so far this year and I’ve been able to make much more progress in 2 months than I did the entire previous year on my own.
Do you have an accountability partner?