Double Your Chances of Achieving Your Financial Goals With This 1 Move

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Double your chances of success in achieving your financial goals with one move.  

We all want to achieve our goals when we set them.  This is especially true as we head towards the end of the year and the start of the new year.  There are many of us that set goals throughout the year as well, with some of those goals being to:

  • lose weight
  • get in better shape
  • find a new job or career
  • take control of our finances
  • reduce and/or eliminate debt
  • save more money
  • buy a house

Whatever your goal is you have a significantly better chance of achieving it by making one move.  That one move is to find an accountability partner and commit your goal to them as well as set follow-up meetings to review your progress.

“That which is measured improves. That which is measured and reported improves exponentially.” ~ Karl Pearson

The American Society of Training and Development found in a study that people are 65% more likely to meet a goal after committing to another person.  Additionally, their chances of success increase to 95% when they have specific meetings with their accountability partner to track their progress.

Double Your Chances of Success

A 95% increase in your chances of success is basically doubling your chances of success. There is not much easier of a way to improve your odds of success than this simple move.

There are several people who could top your list of potential accountability partners:

  • Spouse
  • Best Friend
  • Parent
  • Sibling

You need to find someone you trust and that will hold you accountable.  But at the same time, you want to find someone who won’t judge you, this needs to be a judgment-free zone.  That doesn’t mean that they won’t hold your feet to the fire if you slack on doing what you’ve committed to achieving.

What worked for me

My wife was my accountability partner and I was hers.  We walked through our budget together and identified areas to reduce spend with the intent to use those funds to eliminate debt and then build wealth.

We have held follow up meetings where we sit down together and go through our financial expenses together and hold each other accountable to reductions we each committed to.  These follow up meetings have been key to our success as we go through and make sure we are taking the actions that we said we would.  What I have found is that we have become stronger as a team working together and holding each other accountable than we were before and our financial success has proven this method works.

This doesn’t mean that you won’t slip up at times, but the follow-up meetings give each of you the chance to see where you may have let something slip.  This gives you the chance to correct it going forward and sets you up for greater success on your journey to achieve your goals and ultimately your financial freedom.

Next Steps

Find someone you trust to be your accountability partner and explain your goals to them.  This first step gets you halfway there, the key step that you need to make sure to do is set up follow up meetings where you can review progress.  In these meetings make sure that you give the other person full authority to challenge you if you are not meeting the progress you have committed to.

So what goal have you been putting off or slacking off on achieving? Pick that goal today and get together with your accountability partner to share your goal and set up your future check-in points.  I’ve done it and achieved great results and I know you will significantly increase your chances of achieving your goals if you do the same.

GP

Hi, I'm GP. A personal finance expert with a mission to help Entirely Money readers break free of money worries. Combining a finance-focused education background (B.S. in Finance and MBA with Finance focus) with over 15 years of personal and corporate finance experience to help you achieve your financial best life!

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