Welcome to the latest series here at the wildly popular JosephSangl.com – “Managing Money As A Single Parent”!
Part Seven Establish accountability
It is clear within all sports that only those athletes and teams with a great coach achieve success. The same is true for your finances. As a single parent, it can be easy to avoid financial accountability with any one. Don’t fall into the trap that you can do it all yourself. You carry such a tremendous load as it is. Meeting with a financial coach on a consistent basis (at least once a year) will ensure you stay on track to achieve the financial goals you’ve established for yourself and your children. Solomon shares great insight again in Proverbs 15:22: “Plans fail for lack of counsel, but with many advisors they succeed.” A financial coach will help you identify “financial blind spots” – areas you may not even see but can have profound implications for your future. Submit to a coach, and you will make financial progress much more swiftly and with far less mistakes.
A financial coach will help you identify “financial blind spots” …
Most single parents deal with exhaustion and lack of free time on a near-continual basis. Anything that is not extremely urgent is usually pushed aside. Important financial principles and tools are usually not urgent until a financial event occurs. A lack of accountability to living by a budget, automatically saving and investing, and other key personal finance tools is then exposed and creates a financial mess.
PRACTICAL STEP TO TAKE:
- Obtain a financial coach and meet with them at least once each year