Interesting story I heard today about a person who works as an executive at a company and manages millions of dollars like a pro. But when it comes to his personal life he is simply swimming in a massive pool of debt. As part of the plan to turn things around he was simply given a third party person to be accountable to where he would have to report his finances and budgeting.
Funny enough, just that alone seemed to be a a big enough factor to get him to start budgeting and following through with a plan. I guess in many ways it’s like a person that constantly has a messy room where as soon as you have a third party constantly seeing the mess you kind of naturally just want to make sure it is clean as it will leave a bad impression.
That kind of makes you feel silly in many ways where you can give someone all the advice and strategies in the world and knowing something simple like that can help turn a financial budgeting problem around just seems too simple to comprehend in many ways.