Financial Planning and Accountability

Financial Coaching and Accountablity
 

Financial Coaching and Accountability

Managing your finances can feel like a full-time job and one you don’t have time for when things get tough. But did you know that accountability can help you reach your goals even faster?

 

Managing your finances alone can feel challenging and even isolating, but if you talk to a financial coach, they’ll tell you the importance of accountability.

 

Here’s why.

 

Sticking to a Budget is Hard

Whether you’ve budgeted before or this is your first budget, it’s hard to feel so limited. Just like dieting, when you know you’re restricted to a certain amount of something, it makes you want to spend more just because of the limitation.

 

When you have an accountability partner, it’s easier to stick to that budget. You know you have someone to answer to, and you probably want to show up with your best foot forward, not your head in the sand because you made mistakes.

 

Impulse Buys Happen Before you Know It

How often have you made a list and set a budget only to step foot in the store and walk out with much more than you intended? Many people joke and call it ‘retail therapy,’ but there’s nothing therapeutic about it.

 

Spending money over budget makes it hard to stick to your other financial goals or even pay your bills on time. Having an accountability partner can help you stop and think before making those purchases, saving you money and helping you stick to your goals.

 

Life Happens and you Might Need Advice

Even the best-laid plans can fall apart when life happens in ways you didn’t expect. If you have to blow through your emergency fund or you lose your job, and suddenly all your financial goals are out the window, it can feel hard to start from scratch.

 

Having professional financial advice from a money coach can help you see how and where to pick up the pieces. It might not happen overnight, and you’ll likely have to make some sacrifices, but knowing how to adjust your investments, their allocations, and risk tolerance is the key.

 

Getting Reassurance, you’re Doing it Right

No matter how carefully you budget or what financial plans you make, it can be hard to realize you’re doing things right. Having a financial coach guiding you and reaffirming what you’re doing can make it easier to stick to your financial plans.

 

Final Thoughts

Financial planning and accountability go hand-in-hand. Planning makes it easier to reach your goals, but accountability helps you execute those plans. You can make plans all you want, and they look great on paper, but when it comes down to it, you need someone on your side cheering you on and helping you make crucial decisions.

 

A money coach can be your accountability partner, helping you make sound financial decisions, fixing mistakes you make along the way, and helping you achieve your overall financial goals.

Connect with a Financial Coach

Financial Wellness Coach is here to help you find the right financial coach.

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