do you have a money accountability pal?

AMANDA CHRISTENSEN

---

Money Accountability Pal = A pal you confide in regularly about a current money goal (like paying off debt for example).
Your MAP is somebody who will cheer you on and support you. Someone you could check in with regularly to report your progress. This may even be someone you can ask for advice (someone who has been in your shoes possibly?). Someone who’s honesty you won’t take personally. Mostly, this is someone to communicate with about a money goal, which experts suggest, helps you stay on track and makes you more likely to succeed.

Let me tell you, I LOVE this idea! Here’s why: 

READ POST

• Generally speaking, you and I don’t talk openly about how much debt we owe or how much we make each month. Most of us don’t even take the time to teach our own children how we manage our money! Still the benefits of communicating about money with someone we know and trust are critical to success!
• What if our MAP was a family member? The people we spend the most time with are often the best suited to help us stick to our financial goals. What if the kids were brought in on the goal too. They could help you stay on track and you’d be able to teach some money tips along the way.
• Sharing the little successes along the way. Temped to make an impulse purchase? Text your MAP instead and confess why you really want this particular item and how hard it was to walk away without buying it.
•  Schedule check-ins. Maybe once a month or once a week or whenever the impulse strikes to purchase something that will take you further away from your money goal. Put a reminder in both your phones and decide on a place to meet. Meet over the phone or send an email. Do what’s realistic for you.
• Be your child’s MAP-start early and be the person your child can talk to about spending and saving decisions. What a great opportunity to take time to teach them about money and how it works.

 
I invite you to consider talking to a MAP regularly about your progress towards you money goals. It could be your spouse, your mom, your child, etc. Regularly checking in on our financial goals can help us stay on track and ride the ups and downs with more peace of mind. 

Adapted from article published on 11/2/18 at twocents.lifehacker.com