Do you have a trusted person that you can depend on to challenge you on the financial front? Yes I am referring to financial accountability. Some of you may have a confused or offended look on your face. Tell the truth, did you think, “I am a grown woman. I can handle my stuff. I don’t need someone looking over my shoulder.” This is not true. We need to be held accountable in every area of our lives and our finances are no different.
An accountability partner is a person who will check in with you to see if you are sticking to the budget, as well as how your Baby Steps are going. It could be a friend, family member, or a mentor. The important thing is that you trust them to encourage you as well as get on your case if you stray from your spending plan. They are your support system, and everyone needs one if they are going to succeed with money.
You can tell if someone is the right partner for you if they are willing to hurt your feelings to keep you on the straight and narrow. You don't want someone who will help you justify stupid, unnecessary spending. If you're talking about going on vacation or buying some new clothes when you can't afford it, they need to have the courage to get in your face and say “No way.” Doing that may get on your nerves when you want to spend, but they are protecting you from you.
Allow me to give you an example of why we need a partner to hold us accountable relative to finances. When I graduated from college, I got what I have always referred to as my first “real job.” I was making an additional $7,000/year with my “degreed” job versus the job I was working while in college. I thought I was rich! And I shopped like I was. While I was shopping, I always had a justification for my spending. Two of them were: “I need clothes to wear to work.” And “I work hard and should be able to have some nice stuff.” How many of you have used these very justifications or others similar to them to spend money in a manner that is counterproductive to your overall Spending Plan.
Within a timeframe of about six months, I racked up enough debt to the point where it took me two years to clean up my mess. I learned a valuable lesson as I was walking through this process of becoming debt free once again, “The borrower is slave to the lender,” Proverbs 22:7b. I had no one to answer to where my finances were concerned. So I could talk myself into anything. If I was lonely, I would shop. If I was bored, I would shop. If I was sad, I would shop. It became the thing I did after work, stopping at the mall to check out the sales. A few simple questions from a friend could have ended this madness. But there was no one there.
So enlist an accountability partner today. If you are married, this would be your husband. If you are single, choose someone you trust and respect. It will do wonders for your finances. It’s that added boundary that we all need . . . a watching eye.
Peace & Blessings
Sharon
I will have more for you on Monday, September 6th! Until then keep working your plan for financial peace and freedom.
Tuesday's Blog: We have a special blog from Esther-Marie, on "Travel" be sure to check it out!
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