Rachel’s Notes
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The Annoying Little Secret of Success | 01/11/11
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The Annoying Little Secret of Success | Accountability is not generally pleasant. In fact, most find it downright annoying.
Yet when it comes to financial success, I know of no more effective tool.
Maybe your financial goals are simple enough that a friend could help you stay on track. For instance, if you've decided that you're done buying $4 coffee every morning on the way in to work, tell a co-worker or two or three. The more people you tell, the better your chance of sticking to your plan. If everyone in your office has heard your adamant declaration, you'll have lots of motivation. Coming into the office with the wrong paper cup in your hand would expose you to a dreadful walk of shame that you'd surely be compelled to avoid.
If your financial goals are more complex, that priceless accountability might have to come from a professional. Know thyself. Will you really do all that is required to stay on track financially? Do you really even know exactly what you need to do? If so, great! Get going. If not, then acknowledge when it's time to hire a professional if you haven't done so already.
Each year you put off getting your financial house in order, you eliminate future options for yourself. And consider that the opportunity cost of not getting the help you need may outweigh the professional fees you would pay if you opt to go it alone.
If you have a financial professional already, you may need to ask him or her to help you stay on track. Insider secret: sometimes financial planners don't want to feel like your mom and nag you, so they might avoid keeping you accountable and just let things slide. However, at least for me, if I know my client is serious about making financial progress, and welcomes my friendly reminders, I'm more than happy to follow-up on outstanding items up to three times. Ultimatley, of course, there are some tasks the the clients must own and that I can't do on their behalf. But I know my clients are extremely busy and some of them benefit from and appreciate my help in keeping financial to-do items on their radars.
Remember: he who walks alone has no one to catch him when he stumbles. |
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| Tags: financial wisdom money management |
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