The definition of an accountability partner is a person who coaches another person in terms of helping the other person keep a commitment or a goal and follow through.
A reaserch was published and showed that not having an accountable partner to help a person accomplish their goal is one reason 92% of people did not accomplish their New Year’s resolution according to a University of Scranton study by Dan Diamond in Forbes and an article by Dale Tyson.
When it comes to financial planning It ’s vital to have someone in your life to keep you financially accountable and help you create a concistent system that eventually will lead on changing your spending habits. By having a partner to lean on, we are more successful in meeting our long-term goals and managing everyday spending. Our partner is able to keep us on track when we are tempted to impulse spending , and they are there to encourage us along the way.
Sometimes you can depend on a friend or parent who checks in with you regularly, and with whom you are comfortable sharing your struggles and progress.
But sometimes you need to be intentional about it, and work with an expert for seeing faster results . But apart from that is not only the speed of the improvement. It’s the actual results that will make want to keep on trying.
Choose someone who has similar goals and financial management skills.
Do not pick a spendy friend to hold you accountable financially. It is important that the person you choose will have similar goals and beliefs when it comes to money management. Choose someone who also wants to be smart with their financial decisions, an individual who fits your money mindset.
This is not about having equal income , but instead about having similar spending habits and goals. It is important that you and your partner are working together. They should pull you up, not down.
Create challenges and set goals together.
Make it fun! Start a saving challenge, like the 52 Week Money Saving Challenge or a no spending Challenge!! Together you can encourage and compete. Set goals, such as “This week we will not buy coffee from delivery .” or “This month is about saving extra 200”
At the end of the week, you can compare notes and see if you both succeeded. No one likes to lose a challenge!
Check in frequently.
When you choose an accountability partner, set up daily or weekly money meetings. Decide what where you want to have your money dates or also you may have a phone call every Sunday evening to talk about the previous week. The more often you check in, the more successful your partnership will be.
Encourage one another.The most important part of your partnership will be encouragement. You are stronger together than you are apart. Encourage one another daily, and especially when you fail. There is always room for improvement, and you can help each other to succeed next time. When they are feeling down, bring them back up! And vice versa.
Choose someone that you trust.
You need to be able to trust your financial accountability partner. Pick a friend or family member who will encourage you when you fall short of your goals, and never judge you. If you have a strong bond, both of you will be more willing to share honestly about your successes and failures. Trust is key!
Re – adjust!!
Every so often, re-evaluate the goals that you have set and make budgeting adjustments . Should you create new ones? Should they be raised higher or lower? What about your financial accountability partner… Are you meshing well together? Is it a healthy and helpful partnership, where both of you are thriving? Come to conclusions, and create change where necessary.
Partnerships are most effective when you know exactly what you need to do. Coaches can often provide consistent accountability, along with worksheets that allow you to track progress on a specific goal.
The tools for your tracking system should be simple and easy to use. Worksheets with colours and percentages to make your budget easy to use and of course to understand the importance of be consistent on working with it .
Find a way that works for you and start today! In a world full of opportunities and unpredictable situations you must make the most of it today!

If you have found these tips helpful remember to take a look at my accountable courses. I love to help women achieve their financial goals and reduce the gender gap!!!