Read Time / 3 Minutes
Theme / Financial Stewardship
Finances can be hard.
It’s hard to save money. It’s hard to eat-in instead of hitting the drive-thru, or making gifts for Christmas this year instead of buying them.
Finances and wise stewardship can be a challenge, but it’s even more challenging going at it alone. One of the most valuable things we can have in our financial lives is someone who knows what we're trying to accomplish and is willing to ask how it's going.
Accountability is important because financial decisions are rarely made in a vacuum. We all have moments when spending gets out of control, saving gets pushed aside, or a long- term goal starts to lose its importance. Having someone who can ask the right questions, and help us stay focused when our motivation begins to fade is essential.
But accountability shouldn't feel like punishment. Accountability should come from a place of encouragement.
“Therefore encourage one another and build one another up, just as you are doing.” — 1 Thessalonians 5:11 (ESV)
Paul tells us to “encourage one another and build one another up.” That applies to the way we hold each other accountable. The goal isn't to tear someone down or make someone feel guilty about their finances. It is to help them keep moving in the right direction.
Good accountability celebrates progress while still being honest about areas that need improvement. It might mean celebrating a debt balance that has finally started coming down, encouraging someone who has consistently saved for six months, or simply reminding them why they started in the first place.
This is especially valuable in marriage. Financial accountability between spouses shouldn't become one person policing the other. It should be a partnership where both people are working toward the same goals and encouraging each other along the way.
I’ve written before about having a management structure of finances. Both spouses are owners of the budget, but one person being the manager helps create an accountability chain.
The ownership part is critical though. Both spouses need to be owners.
One of the best ways to create ownership is goal setting. Set out half a dozen things you want your household to accomplish, and set timelines for it. 6 months, a year, 10 years, whatever timeline you need.
Now you have something to hold yourself accountable to. We spent $500 eating out this month? That took away from our ability to push towards these goals. Now your accountability doesn’t have to be punishment, it can be an encouraging reminder of the direction you’ve both decided to go.
The best accountability doesn't make us afraid of making mistakes. It pushes us towards which direction we want to go.
Financial stewardship is a lifelong process. Having someone beside us who can challenge us, encourage us, and celebrate the progress along the way can make that process not only more successful, but more enjoyable.
Nathan Carroll
Financial Advisor
208-918-8655
nathan.carroll@christianwm.com
