Why you should share your financial successes with someone

Here's why you should share your financial successes with someone.

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One of the most difficult things about our financial lives is maintaining the level of motivation and discipline needed to achieve financial success.

Finance is something we all have to deal with, just like weight & fitness. Many people find it easier to stay on track with their health goals if they're doing it with a partner or friend. It makes it more fun when you can share the journey with someone else.

Talking about what you find difficult with money could help you learn a different way of doing things. The benefit may be as simple as them telling you about a cool app such as Zip Co Ltd's (ASX: Z1P) Pocketbook which tracks all of your spending (for free), which may show that you're spending a lot more in one area than you realise.

Sharing your goals and dreams with someone (as long as it's not done in a boastful way) can help you stay on course. Every so often you could talk about what's going well and the latest milestone you've reached. Verbally acknowledging your achievements is a good way to reinforce the progress you've made and encourage you to reach the next one.

Your 'personal' finances can be as private or public as you want them to be with your finance buddy, you don't have to share every detail. You could just say "I've now reached 20% of my house deposit goal" or whatever your aims are if you don't want to talk about dollar amounts.

There are plenty of finance bloggers out there who share with the internet how much they earn and save each year. You could get inspiration from them about their choices and the progress they're making.

Foolish takeaway

The more you can get excited about finances the more likely it is you'll be motivated to making your finance goals the most important objective. Sharing the journey with someone, or reading about someone else's , is a good way to be more mentally involved and hopefully more motivated.

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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