Written by Jim Loscheider (Elder and Ramsey Solutions Master Financial Coach) on January 12, 2024.
“Without counsel plans fail, but with many advisers they succeed.” -Proverbs 15:22 ESV
Pastor Scott shared some hilarious New Year’s Resolutions on December 31, 2023, and we all had a wonderful laugh. Yes, it’s true: we all make resolutions the first few days of every new year. We want things to be different. Unfortunately, few of those resolutions make it very far into January.
Polls consistently tell us that two of the top resolutions every year involve losing weight and managing money. However, every year, the results are the opposite of what people try to accomplish. Total consumer debt balances increased to $16.38 trillion in 2022, according to Experian. This rose again to $17.06 trillion in 2023, per the Federal Reserve Bank of New York. This means consumer debt balances increased by 4.15% over the past year. The overspending of our Federal government reached a new high (over $34 Trillion) as well. Our overspending causes our personal net worth to get smaller, while overeating causes our waistlines to get bigger!
Many say that New Year’s resolutions are a joke! We know life would be better without extra pounds and overspending, but we just can’t seem to say no. Why is it that we aren’t successfully following through with our resolutions? Because without accountability, resolutions are nothing more than wishes we make to ourselves.
A Valuable Tool for Achieving Goals
There is a solution: consider making yourself accountable to someone else. In Proverbs 15:22, Solomon challenges us to build accountability into our lives. Accountability is one of the most powerful motivators for changing our behavior, and in our Financial Coaching ministry we promote accountability as a valuable tool in the pursuit of any goal. So spouses, let’s work together. Single men and single women, find an accountability partner. We can make a lot of plans, but the chances of failure increase when we try to go it alone.
Furthermore, the bible teaches that with “many advisers” (otherwise known as accountability partners) our plans succeed. People who are willing to seek accountability partners exhibit a teachable spirit. That’s a crucial character quality in succeeding with our plans.
Are you willing to change? Learn? Grow? C. S. Lewis puts it this way: “You can’t go back and change the beginning, but you can start where you are and change the ending.” I love this!
Dave Ramsey said this: “Don’t set yourself up for failure. Accountability is biblical … and it works!”
Handling money can be tricky, but the good news is you don’t have to do it alone. Seek out one of our Ramsey Solutions Master Financial Coaches at ABF today. Click the link here: abfboone.com/financial-resources