Accountability isn’t just a buzzword; it’s the cornerstone of success – whether we’re talking about managing a trillion-dollar federal budget or balancing a family checkbook. Recent political developments have brought this concept into sharp focus. President-elect Donald Trump’s decision to enlist visionary leaders like Elon Musk and Vivek Ramaswamy to spearhead the newly formed Department of Government Efficiency is a prime example. The Pentagon, for instance, has notoriously failed seven consecutive audits, underscoring the critical need for oversight. That’s preposterous.
While we can debate the merits of these appointments, the broader lesson is clear: it’s time we reevaluate how accountability and fiscal transparency play a role in every aspect of governance – and, by extension, our personal lives. Large-scale success demands collaboration, expertise, and a clear set of checks and balances. And the same principle applies to managing your own finances.
At different ages and stages of life, our financial priorities evolve. The strategies that help a twenty-something build an emergency fund are different from the approach a retiree might take to preserve wealth. Yet the common thread is this – achieving financial goals requires a blend of personal discipline and professional guidance. It’s not just about knowing what to do – it’s about being willing to seek help when necessary and holding yourself accountable along the way.
Just as the American people have demanded that the new administration tackle inefficiencies and pull back the curtain on government spending, individuals should take a similar approach in their own lives. Candor, accountability, and expert input aren’t just for bureaucracies – they’re essential tools for navigating your financial journey effectively. Are you tracking your expenses? Are your investments aligned with your goals? And most importantly, are you honest with yourself about your financial habits?
In an era where financial literacy is more accessible than ever, there’s no excuse for ignorance. Yet, many people shy away from even the basics – budgeting, saving, or maximizing their credit, to name a few. If you don’t know where your money is going, how can you expect to manage it effectively? And if you don’t know how to get there, find someone who can help. A financial planner, accountant, or trusted mentor can provide the guidance and perspective needed to keep you on track. Think of it as building your own personal “board of advisors.”
For younger adults, this might mean working with someone to create a budget or establish a plan to tackle loans and debt. For those in midlife, the focus might shift to saving for a home purchase, college tuition, or optimizing a retirement portfolio. And for retirees, estate planning and tax efficiency might take center stage. Whatever your stage, the key is recognizing when to seek expertise and when to course-correct.
I’m continually surprised by how many successful business owners, executives, and professionals lack a firm grasp of the basics of personal finance. Whether it’s budgeting, investing, or forecasting, these otherwise accomplished individuals often find themselves too proud or too overwhelmed to seek help. Instead of enlisting a qualified professional who can address their specific needs, they turn to the internet – or worse, tools like ChatGPT – for generic advice that often does more harm than good.
The truth is, no online tip or one-size-fits-all strategy can replace the value of personalized guidance. By recognizing the gaps in your knowledge and taking the steps to address them with the right help, you set yourself up for financial clarity and success. Accountability isn’t just about doing the work – it’s about knowing when to call in reinforcements to make the work count. Everyone is ‘account – able.’
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Shmuel Shayowitz (NMLS#19871) is a respected Real Estate & Finance Executive, Writer, Speaker, Coach, and Advisor. As the President and Chief Lending Officer of Approved Funding, a leading national mortgage banker and direct lender, Shmuel has facilitated over $3 billion of mortgages over the past two decades. Shmuel’s expertise spans various licenses and certifications, including specialized mortgage underwriter, licensed real estate agent, and accredited coach. His market insights and experience are highly sought after in the real estate, finance, and coaching industries. In addition, Shmuel is a seasoned real estate investor and property manager, facilitating thousands of rentals nationwide. Shmuel can be reached at www.approvedfunding.com/shmuel.
