Bitcoin Forum

As day and night keep occuring, hustling to meet our needs is not negotiable as long as we still have an interest in living. Whether working hard or working smart, the primary and secondary goal is to have something that can aid our survival at the end of the day. No one is interested in how you made your money, just get your basic needs and live your life.

Accountability happens to be an important figure that indicates how well everyone makes use of the resources they have in their possession. Don't be surprised that some people who earn very decent amount still struggle to survive due to the inability to give proper account of how they've spent their money.

Below are the few reasons why personal accountability is important
1. It fosters self discipline in the areas of spending. Accountability sometimes teaches us how to restrain ourselves from our wants.

2. It creates room for investment through wise decision making. In this scenerio, we often consider investment rather than squandering funds.

3. It encourages the regular checking of financial growth, which help us to monitor our earnings and expenses.

4. It builds financial confidence in hustling continuously.

How to practice financial accountability
1. Be truthful to yourself. Certainly, no one knows you better than you know yourself. Your decision to spend right is for your own benefit and not for others.

2. Have an innovative or conservative mindset. By having an innovative mindset, we tend to invest on our own ideas, while by having a conversative mindset, we tend to save our money like some Bitcoin hodlers do.

Thanks for reading through, and what are your opinions regarding personal financial accountability?.

yep.
taking emotional control of your finances is priority.
EG
instead of saying "dont blame me, blame my boss, he doesnt pay enough" (denial, evasion, deflection, avoidance, ignorance)
say "even if i go super frugal, money is still tight, its time to look for a better job"

that way you are not shifting blame, doing nothing and staying in the problem. but instead recognising the problem, evaluating different solutions and making decisions (even if its just hypothetical planning thoughts)

emotional control is prime because if your not ready mentally then it wont help you to motivate yourself physically to do whats needed

---

taking economical control of your finances is next.
EG
actually audit yourself, write down your income and then look over last few months of bills and expenses and get the min, max and averages
actually look into whats a needed bill vs a wanted luxury. tally up wasteful spending and note how much you could have saved.

then you can realise is it really your income the problem or spending habit the problem

---

taking exertive control of your finances is next.
EG
actually take physical actions to remedy the solution by trying things.

In my view, personal financial accountability is not only about surviving but also about thriving. It enables individuals to set and achieve financial goals, whether it be saving for a significant purchase, investing in education, or planning for retirement. It empowers people to take control of their financial well-being and build a foundation for long-term success.  It is not just about managing money. It’s about taking control of one’s financial future and making informed decisions that can lead to financial freedom and security. It’s a lifelong journey that requires continuous learning and adaptation. This practice is practical and fosters self-discipline.

In my neck of the woods, Ive been noticing folks who take out loans from banks with sky-high interest rates for their businesses. Now, instead of handling those funds wisely, considering its money they borrowed, you see them living the high life. strutting around like they own the place. Well that kind of flashy lifestyle eventually catches up with them, and they end up drowning in debt, watching their businesses go down the drain. Its downright crucial to show some restraint in spending, especially when youre dealing with borrowed cash. Then there's another group thats just not on the financial accountability train. You know, those who come into money without breaking a sweat, like through inheritance. In my opinion, it's key for folks to step up their personal financial accountability game. That's the ticket to growing whatever resources they've got and ensuring a brighter future for their families.

It is not clear to me. Do you mean financial accounting?

Financial accountability: being responsible with your finances.
Financial accounting: keeping track of your finances.

Anyway, I think both are important and it's difficult to be responsible if you don't keep track, so it would be a previous necessary condition.

You don't have to use so called strategy.

The key is always try to looking a way to increase your income, try to lower your monthly expense, think few times before purchase something and keep DCA-ing Bitcoin. Sooner or later you will become rich, the problem is only the consistency.

Someone: It's hard to increase my income.
Me: Who said it's easy?

I agree that even though someone is comfortable and calm because they have enough money to survive for decades, they still carry out development and discipline to continue to develop and grow because they are used to doing that.

Financial accountability bring freedom that will make you to be responsible in your action to ensure you take a good step to a particular investment that will bring income at the end of the investment. Persona accountability create atmosphere of boldness to make a right choice that will make others people to follow your choice base on what you have achieved before or what you are going to achieve in that particular choice you made when the right time of earning appear. It helps investors not to spend their wealth anyhow than to look for potential investment to invest and have confidence of making something different that will increase your wealth.

If for instance, the government is not really doing anything to improve its citizens’ livelihoods then you can definitely blame the government but just blaming them would not be enough and as sad as it is most likely it would take a long time before you see any changes or improvements if there would be any

We all get challenges in life and we can’t stay depressed about it we also need to find ways how to make our lives better regardless of factors we can’t control 

Failed to establish personal financial accountability will surely end us broke  or miserable as most of us prioritize wants rather than our needs. We should keep on tracking our finances put a limit on it though being responsible is not that easy specially for people that has this mindset or habit called "one day millionaires" but yeah it's worth trying for our own good.

Personal financial accountability is undisputable to all individuals because you have all the constitutive capacities to decide how you would manage your finances.
You are indebted to your financial conscienceness to determine your the values of your goals and expenditury, the balls is at your Court to decide your bankrolls of conveniences or inconveniences without anyone to be blamed.
On a short note, personal financial accountability assumes that you are the principal official responsible and in-charge of your financial status.

At some point in life everyone has to get a grip on their finances, otherwise you'll be entirely dependent on other people and they may eventually vanish. It's also too easy to "live in the moment" but building up a future is also important, because you need to feel like there is something to look towards and have a safety net for tougher times. Nor is that safety net going to appear instantly overnight for most people, it's something that can take years and decades to build up, so you should start as early as possible. It's no good getting to 60 years old without a plan, because at that point you will struggle and I'm not sure you deserve all that much sympathy when you had a long time to prepare.

Accountability may seem like a bad idea, but because of this accountability comes the calculation of whether the person spent the right amount of money in the right place. For example, if I send the janitor of my house to go shopping, he must give me an account of where and how much money he has spent. He must give me a list of the prices of the products in the market along with his travel expenses so that I can understand how much money he spent in this market. This calculation will help me know if I am using my money properly.  Earning money is difficult so it is our responsibility to use money properly. Even if we earn a lot of money, we will not be financially sound enough if we spend money unnecessarily.

This is what i mean. Checkmating your spending lifestyle.


I don't know if all these sounds like a strategy from your point of view, which it doesn't to me. They are facts that lavish spenders can't figure out due to various reasons.

I am quite aware of the DCA method, but it unwise to categories everything using the DCA method. Finance is broad, so let's generalize it because other people make their money outside Bitcoin.


That's it. It's very clear from being selfish to oneself.

That's true that nobody gives an f on what you're doing but as long as you're bringing food to your family's table, that's all that matters and we all survive all day long. Having financial accountability and being a responsible person with finances, this is not just going to be your goal and end game. Soon, you're going to think of your family and the generation that's going to enjoy your wealth. Some may think that it's a boring life that you're working hard with finances and being accountable to what you do just for your heirs to enjoy it. Well, we've got different views on this one but that's how the other and former rich folks did.

It is normal and being professional when you spend money and were being able to be accountable for what you have used the money for, when we spend money, then it must be accounted for, if not then it is believed to be wasted, just as we know that we have needs and wants, what we use our money for should be base under the category of order of preference, some things are more important than the other to be taken care of.

The importance of accountability as a tool to track your income and expenditure activities to make it easier for you to update your finances so that they can be managed properly. And this will indeed help you overall if you are looking to control your finances so that you can project what you will buy or whatever in a matter of a month or even daily.

Then create the 4 points that you consider important OP, you can do that well if you have good accounting too. But this will be difficult for those who have no income. LOL

We are taught to live according to our capabilities and not according to our needs; this sounds everywhere. But unfortunately, it isn't easy to adhere to such a strategy constantly. This is where loans arise, and the more people receive them, the more desires for something new arise.
The problem is that not all the things and desires that we are willing to spend money on are what we need. In psychology, there is a way of presenting your feelings after receiving what you want. And statistics say that after virtually experiencing moments of imagined “happiness,” people admit that everything they wanted before is unimportant now.
Therefore, before making financial plans, you need time to understand the importance of having something in your life that you plan to give your money to.

I think most people will finally realize they need to have personal financial accountability where they lack of money. Talking from my experience when I was on my peak income, I tend to less care about my spending, especially on my youth. I buy many things that I don't need, but as expected those much of income will not last forever. My income decrease, I need few months to adapt with that and in those adaptation time I struggle to meet my daily needs, and in those time I realize that I need be more accountable and careful with my money.

Many people might not be concerned about how you made your money but I am very interested. Society might have become materialistic but there are also people that uphold integrity and decency. But like OP said, all these hustlings are geared towards survival, however, we will not uphold criminal activities because we want to survive.

Your position OP is very valid because we need financial accountability to survive in this present economic condition. Our ability to focus only on our major needs based on our income is important to survive the financial pressure. Some persons are indebted because they are not truthful to themselves. They prefer to live fake lives so that they can please people. They go to the extent of taking loans to buy new cars or live in big houses because they want to show off. Such a kind of life will only lead to depression and disgrace because many of them might not have the means of paying back these loans.

Being creative and innovative is important because it could help us to cut costs and even create alternative sources of income. Innovation can make you creatively substitute a very expensive product for an affordable one. It could also assist one in diversifying his skills to other areas that is lucrative and high-paying.

There's no doubt,Financial accountability puts an individual in charge of  his/her financial affairs.Accountability is crucial for anyone who Wants to be in charge of his/her finance.

Personal financial accountability helps you to be informed of the right steps to take at all times.Some persons find it difficult to manage their finances and as  a results end up with a wrong ideology or conclusion of what money means.

First is to the individual, but followed by responsibility to the community. Think about people with better positions in society, they are always the ones who contribute with great responsibility. I see that for individuals, adapting in life is not a difficult story, if we make efforts, opportunities always exist. Maybe some situations in life seem challenging to many people, but if you think positively, relationships in society do not seem to exist by accident.

While each person is aware of their own responsibility, I believe we are all aware that we are one, a group living on the same planet. Going back to the story of financial responsibility, because it is also an issue where there are no common standards, each individual has their own life and they need to perfect it, so sometimes prejudice or judgment from the outside world makes each person unaware of what responsibilities they need to do.

I'm not going to dispute the fact that financial accountability is very important but one thing believe so much is that time controls everything we do in life.

Even with your financial accountability it doesn't matter, if you're not keeping to time, it is the most important of all. if only you can adhere to time then you will be making better decisions on financial management, like you know this time is not for buying but accumulating more money it will perhaps be the best decision than follow all the financial accountability rule yet fail.

Thanks for this educative topic, it's very true that without financial accountability people can become recless in their expenditures and the aftermath will be bankruptcy which can lead to being broke and end in poverty. You have provided very helpful tips to achieving financial accountability, above everything that you mentioned, discipline comes top, because without it all the others can be meaningless. What I can add to it is that to sustain our capital so that we don't run into depts or broke after being financially accountable is to live bellow our income, without this we'll keep running into dept that can lead to poverty..

In other words, "man know thyself". You're right OP. Until people stop doing things to show they've arrived, they aren't going to stop spending unnecessarily. Those who mostly do such aren't shrewd in their thinking and the end result is often debts and bankruptcy or regrets. Once people begin to realize that they aren't in competition with anyone, such display to please financially will cease.

That resonates well with me. It was in the bid to try out something new that led me to Bitcoin and then I stumbled on this forum. The rest, they say, is now history.

In the past – I was a person who was bad at managing finances. I don't care how much I spend in a month as long as it takes - but since the pandemic until now I have started to make changes that have resulted in significant progress for myself especially in managing cash inflow and outflow. We are all aware that we will not always earn the same income throughout our lives - that means we need to make preparations about the importance of managing expenses and increasing more sources of income.

Saving, investing and not spending on things that are not really important is the best way to practice. At least this can help us gain a sense of financial security in the long run even if our sources of income dry up for some time. Learning good financial management is important - hands-on practice is a must.

Being responsible about our own finances has never really being optional, it is just that many people are just realizing this is the case now, people have become so dependent on the governments for their own survival that they have forgotten what it is like to take control over their lives, and one of the most effective measures which can be taken to remedy this is to take control of your finances, because if you can reduce your expenses, and then use any spare money to invest and do so for decades to come, when the time comes for you to retire you will do it under better conditions than most people that earned the same amount of money during that period of time.

That is the role of individuals in contributing responsibly to society, especially those in better positions, brings attention to the idea of social responsibility. People need to have a resilient and proactive mindset, which can be crucial in navigating various situations. The relationships in society are not accidental that reinforces the shared responsibility we all have in creating a harmonious and supportive social environment.

The life of each person is unique that has each own financial responsibilities which could be different to each others. The external judgment or prejudice can indeed sometimes cloud the understanding of individual responsibilities. There should be a nuanced understanding of personal responsibilities and the need for empathy and non-judgmental perspectives in assessing people's choices and actions.

Learning financial management is not easy. It is a discipline that takes discipline to learn. Just like telling investors or gamblers to only gamble with what they can afford to lose. As we all know, this does not always happen. It can be said that it takes as much effort as it takes to make money in order to learn how to manage the money. Personal accountability is necessary to the financial growth of an individual. I had one tried to be personally accountable but it did not end well because of inconsistency. This year I should honestly try to learn personal accountability again and implement it because in the previous years I had spent so much that I needed not to and could not also track my spendings. I have read from a financial expert that the two sure ways to be financially comfortable is to earn more, if you cannot earn more at the moment, you have to spend less. Relating this to myself, I am unable to earn more at this moment but I keep spending more which is a very bad habit.

It is time we begin to adhere to the instruction of economics and what actually propelled my decision to reapply the person accountability is your statement that "We will not earn the same amount of income throughout our lives".

Well, that's what we most often fail to do, the dominant thing being that if we already have some funds, we often forget to set them aside for saving and investing and the reason is also very rational, it's not enough for our monthly needs.


If he works for the government but has an entrepreneurial mentality, he just needs to apply for a business loan from the place where he works. So it was also an opportunity to develop the business he had started previously. as long as the management is appropriate and on target and in the end the business runs smoothly and the loan is paid off and the worker retires later without a loan.

Responsibility is what drives us to work daily more than passion. Unless you have responsibility and awareness of the necessity of improving your life, working daily will be enough to pay for personal expenses, but if something happens or you are fired from work, your life will turn 180 degrees. Therefore, you will know the extent of your financial ability in the event of economic problems. Not when you have a job and a stable life, so take the initiative to prepare for the black day before it happens.

Financial management is necessary for a secure future. It is important to have emotional control in your financial management strategy. A person should take responsibility for whatever decision he makes. You should have a proactive approach to solving your financial problems.
It is important to manage your finances and spend less than your income; for example, if you are earning $4k a month and your expenses exceed your earnings, you are in big trouble, so you should make a budget for your expenses to save more. Without budgeting, it is difficult to keep track of spending, financial management and accountability.

I think both are important to keep when we are talking about personal finances. Financial accounting and accountability helps one to know how money is being spent, this can also help to be financially discipline not to spend money on necessary things that does not have value. Financial accountability helps in drafting a better budget of managing money.

It is impossible for one to be able to save money without considering abd bring financial accounting and financial accountability in the the equation if personal finance. To be able to have a bigger financial plan for the future it is important for one to give attention on how money should be spent.

Totally agree, I've seen people that are going on and on with spending their money on stuff that they don't need or will get bored after a month as a result of the culture of rewarding themselves for every time that they do something that they should've been doing normally. Maybe if the people wake up and stop doing all of this things and start being responsible, maybe we can see something different happen to our financial status, I know that it's not the only factor but I do believe that it's one of the big factor that can help someone become financially well off.

The main reason should be because you wanted to be financially literate and potentially be in control of your future without having the need to work your back until you're in your 60s. Once you know these things and are hyperaware of them, everything will follow for you in terms of financial gains. It's a huge step, but something that is extremely helpful only if people paid close attention to it.

People empower themselves to make informed decisions about their money by developing financial literacy, potentially avoiding pitfalls and making choices that contribute to their long-term well-being. The idea that financial gains follow when there's a keen awareness and understanding of one's financial situation is a powerful motivator.

Financial success becomes a byproduct of intentional and informed financial management. It's not just about earning more, but it's also about optimizing the use of the resources you already have. People gain a level of control that can positively impact their present and future financial well-being, because they become more accountable for their financial choices,

I believe that we are not going to end up with financial accountability all that easily because most people feel like they are missing life when they do that. I understand the "concept" of it, living bigger than your income, it is something way too common and the main reason for the high debt we have in all people, because people do not want to just live the life they can live without making a debt, that is much worse, life that you can get with a bigger debt amount is better, and that is why we are doing worse.

But if you really want to get debt, get it for something that would make some profit for you, that would be a lot better for you in the end. I hope that we could do something that may end up with a much better return eventually and learn it.

Being on top of your money game is a big deal. Whether you hustle hard or work smart, the goal is to secure what you need to survive. Personal financial accountability is like your money GPS because it keeps you on track. It helps you resist splurging on wants, pushes you to invest wisely, and keeps an eye on your financial growth. Just being real with yourself and having a flexible mindset, whether it's saving like a Bitcoin hodler or investing in your own ideas, sets the tone for financial success. It's your money, your life so make it count :)

Personal financial accountability is clearly necessary and even must be possessed by everyone if they want to be a person who can achieve success. Because without financial accountability, everything will become out of control. And that is why there are still many people who always rejoice when they are young and complain when they are old. Because they do not understand the responsibility and good use of financial ownership that they must have. Observation and evaluation are also needed. To measure and analyze and so that it is easier for us to see what things need to be improved. Budget reductions and additions or similar can be planned well thanks to good evaluation. The most important thing is to be more disciplined in managing your finances. And financial accountability is indeed needed in this case.

Obviously it's not a strategy, the reason why most of people can't change their habit is they use so called strategy which they weren't used to be like that. Using a strategy make  you life under pressure, this is why when people try to use strategy which they believe it's good for them, they quit it because they didn't feel happy.

The mistake of lavish spenders is the lavish, they had figure it e.g. why they need to spend for $500 to eat in restaurant when they can order or make it by themselves which only cost $30.

If they make money outside Bitcoin, they can convert it to Bitcoin. DCA-ing Bitcoin make you to hedge against inflation and the possibility you can earn is big than other assets.

This reminds me that i have to keep consistent record of my expenses on a daily basis.

Lol, i tried it once but it was a little difficult to always stay consistent sometimes i just forget about keeping track of it and taking note. Although i spend money on things i know i can replace back the money in a short period of time. Yeah, if i am supposed to spend about $100 this week and unconsciously i spend more than that like about $120. I will make sure i increase the level of input in my work and also add extra work time to my daily schedule so that i can meet up the extra $120 i have spent in the previous week.

Using this strategy has helped me to maintain my financial capacity. That means i won't have to hinder my plans for keeping money for emergency funds, investment and daily live expenses. Everything still falls in place at the right time.

I think, when growing up, everyone must be responsible for their own personal finances. It comes from many reasons, circumstances, and age that it becomes more important such as: managing spending, building Stable life, have a budget to reserve for risks of life events, and future orientation. When you have a family and children, this issue becomes even more important. I have a family, 2 sons and everything for me needs to be managed, mixed with my finances.

The point I got was the importance of financial education/knowledge from an early age. But it's never too late. Whatever age you are, start now. When you have received enlightenment for a better life. Personal accountability is very important to live a better life in the future, even for our next generation.

Because sometimes financial success depends on previous generations. In this case his parents. If there are parents who are good at managing money then their children can achieve good financial success and if there are parents who cannot manage money then those parents will turn their children into the sandwich generation. So in this case we have to be smart in practicing our financial accountability by investing our monthly money to buy bitcoin using the dca method. because Bitcoin will be a hedge because it is not correlated with inflation and will provide guaranteed protection for our finances in the future.

Being responsible is a choice that can be made personal because when someone is not comfortable with their condition, they will do anything to be financially free because there are people who have grown up and don't care what condition they are in; they do not want to be responsible regardless of age. If you know how to budget and plan your life. If not for that then it will have a means have a way of hurting people's life because how do you survive starting from the meals then to accommodation then to bills and their are a lot of people homeless only because they are homeless. And have a budget doesn't not really work again because things are expensive. The whole thing is just a two sided thing. Even if some people are married they won't still be responsible. Like I said its just personality.

It seems that the op is suggesting financial self-accountability because a person is making an assessment of oneself here. But when I google financial accountability, it is, of course, about being accountable to others when performing financial tasks.
The op mentions potential benefits and a few tips, but no details on how it could look like. Is being aware of how much you earn, how much you spend, and what were your biggest purchases on a monthly basis enough to say that a person is financially accountable? Does financial accountability require setting and achieving goals, or can it be just about analysing spendings?

Some people are lucky in life, they get born in a richer country and they have a supportive family around them, others have to struggle all the way growing up, but one essential thing that will give you the biggest boost in life is financial education and it's possible to get learn it all yourself. The information is all available out there, but you need to have the drive to figure out how the financial world works - from credit cards, to pay day loans, to mortgages, the stock market, pension plans and much more beyond. The sooner in life you learn these things, the longer you will have to truly capitalize from them, but you should never give up learning either because these things constantly evolve over time.

Financial responsibility? It mirrors our finances. Yes, your hustle matters, but what do you do with the results? The actual game starts there. Spending discipline is a skill that requires practice and contemplation. It's hard to discern wishes from needs. Once you have it, it's like a financial compass in the economic desert

Investment is more than merely stashing wealth or jumping into the next big thing. Patience and foresight are key in this prepared chess play. Your regular financial growth check? A wallet checkup is like a physical. You must know your position to know your destination. Friends, this promotes financial confidence, stability, and control over your economic future. Knowledge is power and profit in personal finance

Time in life is limited and so, as the time clocks, so every witnessed opportunities is a  privilege   for hustling in order to meet up with the needs before the D-Day is come.

Everyone with a target swifts hastily to meet up with their needs even though the goal is not achieved as planned.
Whether the individual is a responsible not, there are always triggers that indeed time after time a hustler chases after a goal and it doesn't matter about the velocities of the hustling  pressures.
On the baselines, all that are in need has the thoughts and steps to obtain their needs in anyways and anyhow


It is an individual responsibility to decide about their financial management. A dump dream of someone's someone else target. Many has reached level of prominent accountabilities but yet they misused it either because they hope everyday would be a blessed day as usual or they lacks the ability to take control of their financial possessions and at a level of their live races they looses it all to no profitable accountability.

Financial accountability like op has made it look, he is talking about an individual being responsible in his spending , to be sure that they are spending money rightfully and not extravagantly.

Yes it is enough to say someone is financially responsible and accountable to himself if he has mapped out from his income how much to be used in spending for different expenses like feeding, shelter, clothing, fun etc. If you are not financially accountable, you won't be able to put in shape the percentages of how much you want to spend for a certain period including making budget for it.

I think both are not the same. And then there is also time management. I think not all depends on time. Like for example when deciding on something. The one that is needed here is an emotion or if what our heart and mind says.

I believe that a person that can manage his finances well, can also manage his time really well. The same goes with other things. When it comes to investing. Have you heard about the DCA method? It was an act of buying regularly. You won't mind the time here or timing your moves. And even we are doing it, we are still continuously making more money outside because how can we invest more if we will stop doing it?

A family is a next level kind of accountability which is where proper management of finances would matter more, I do acknowledge your hard work for your family on giving their daily needs. It is a mix of responsibility and accountability; there'll be times you will be setting aside your personal interests just to provide them what they need. I hope you and your family are doing good.

So for the youngsters over here, be sure to know how to handle your finances well. I myself would probably choose not having a family of my own not until I reach financial stability. But things do happen; if you guys have it already then avoid not being practical and logical with household's cashflow.
If it is with necessities on properly managing finances, then adjustment should be done with the amount of money going on your bank, daily and monthly. We should not make the adjustment on where it is being spent as long as it is necessary to live and just focus on making your daily and monthly income, bigger through investments?

In general, personal financial accountability can be interpreted as the art of survival in managing income and expenses, so as to avoid financial problems in the future. In practice, we usually start by, short-term, medium-term and long-term plans. In my opinion, financial accountability really helps our plans in setting these goals. Knowing every detail of the amount of income, and knowing the details of expenses (except unexpected ones) is very important, because with this understanding we can take all actions and decisions regarding our finances. In fact, almost everyone has practiced this, but the details and mention are not exactly the same as accountability, but you could say it covers the ultimate goal of managing the financial resources we have.

On the other hand, we realize that the onslaught of social media has more or less had an impact in encouraging us to have more excessive desires, this is where the importance of personal financial accountability lies. Where we can organize and determine the priority scale according to initial planning, so that we can control consumptive desires. Control of personal financial accountability can save us from financial problems, can make us aware of managing finances well, such as investing and so on.

Being financially responsible is not something that just happens, we have to plan for it and the way to do it is by knowing exactly where we are spending our money, and once we know this we need to set boundaries that we respect when it comes to our expenses, this may seem to be too restrictive for some people, and I will not deny this is the case, but if someone dreams on achieving a better life for themselves and their family then this is the path they must follow.

I couldn’t agree more. Most of the successful investors in a field today are those who had the foresight and were able to see opportunity where no one else is looking but in other to do this, you must have a great control over how you appropriate your funds and this has a lot to do with money management.
Having a good money management skill means, you have the ability to also check how you’ve spent your money. It ensures you make proper planning and see means to streamline your spending to ensure you’ve got just about enough money to accommodate future investment opportunities when the window this opens up.
Money manage my takes a lot of discipline to master but the greater good is always a reason not to give in to the growing wants and needs when they pop up. Having the money to spend on a want and not do it Gomes with a different kind of challenge but somehow, a good mastery of discipline ensures you don’t relent anyways.

I think this is not new anymore for us, anyone should be held accountable of its own money expenses and savings. Yes, it’s actually a must do but it does not guarantee that we won’t be thriving or struggling at some point with our finances. At the end of the day, know what is right and wrong from managing your finances, because whatever or how you perform it, there will always be consequences or advantages afterwards.

I believe the end goal for this is to achieve financial stability and success. If you instill personal financial accountability, of course you can track all your expenses which made you monitor the outcome of your financial usage and management.

Social networks have played a very important role in this, now there are many bloggers who advertise their rich life and their fans are trying to imitate this. Today it is not cool to be smart or athletic, today it is cool to be rich. Society suffers from this when more money is spent on an image than a person makes money. I know several cases when a person buys a phone in installments but cannot go to the dentist because he does not have the money for it. Financial literacy is the basis, but it seems to me that fakes from social networks are winning over common sense today.

Sometimes we don't have to depend on the future when dealing with money rather we should think of the present, people with this mindest about the future and spend carelessly hoping for blessed days don't know the consequence or rather they can't limit their expenses.
If any one fail to give reasons how and when their money got finished then there's a serious problem cause the problem has passed when the person should learn about financial management. Learning about financial management doesn't guarantee full trust on how to manage money but rather you should be the one to work on yourself first personally before any advice can come in. The issue with financial accountability should not be a burden to anyone rather always learn to spend wisely.

It is good to make a budget to eliminate the expense habit but the problem is with the unpredictable future events that can force you to spend money outside of your budget. So this expense is something that we are not responsible but it's more demandable for that time being. Whether you have the budget or not you have to spend that money so in financial planning there should be a bag of emergency funds allocated otherwise your planning won't work sometimes.

Seeing people flaunt borrowed money and ignore the looming interest charges is indeed concerning. It's a classic case of mistaking short-term pleasure for long-term stability. The allure of a flashy lifestyle can be tempting, but ultimately, it often leads to a downward spiral of debt and financial ruin. This not only impacts individuals but also their families and communities.

On the other hand, those who receive inherited wealth without any effort might also face challenges with financial accountability. They might underestimate the value of hard-earned money and fall victim to impulsive spending or poor investment decisions. The ease of access can create a false sense of security and mask the importance of prudent financial management.

Regardless of the source of income, personal financial accountability is crucial for everyone. It's about developing the skills and discipline to manage resources wisely, make informed decisions, and plan for the future. This includes budgeting, saving, investing responsibly, and avoiding impulsive spending.

It is one of the challenges that most people are meeting everyday. When you lack of finance and source of income then you lack financial accountability. And as we grow older, we just want to see ourselves be in a better situation and that's why there's a need to change that way of handling finances. That's why when we earn, get the salary from our jobs or businesses and profits from it, we need to be accountable and spend and use them wisely.

Some people do have those early realizations and there are ones who are really that making realizations when its too late. This is why it would really be that best that you should really know
on what to do on the time that you do make some income on which it would really be that common sense that savings would really be that a common thing that you should really be looking or consider on.
We cant really be having our own job forever on which risks is there, this is something that you should bare up in mind that there's no such thing about permanent like forever.

Because if  you dont really make yourself having no savings then you are putting up yourself on such great danger. On which it would really be always
best that you should really know on how to make priorities and back up plans because shit things could happen along the way.

And have track of you expenses it is always better that we know were we are spending our money when i was growing up my dad use to keep date of when he buys fuel of pay for gas and other services to be able to keep track of how much is spending and the time frame does services will last. and its an habit have learnt from him and this habit will also be a guide and help you when their is need for caution when it comes to spending. it wont even be possible to keep track of everything but their are important ones that you can always keep track of definitely.

and even with your budget you might end up spending more than your budget because things you did not plan for might occur so this things are meant to happen but even at that we should always find a way of managing our funds. and try as much has possible to avoid were you always spend more if they are not important. because in any kind of situation been financial capacity. and their is noting more interesting and more peace than to be able to solve your financial needs.

You can almost always find a job, another question is what kind of work it will be, whether you are ready to do any work or not. And you should always have savings, in addition to your investments and everything else, you should have an untouchable reserve for different cases. This may be a period when you cannot work for some reason, or you see some favorable moments, like now when the market has started to correct, and you can take advantage of this and make additional profit.

In the field of economics and financial projections, budgeting is an integral part of financial accountability.
For whatever you want to spend as an individual be it on monthly basis or on a weekly basis, it important that everything should be budgeted for, having a breakdown of the things you need will properly guide your spending limits.

The ability to stay through and stick to the rules of not going beyond your budget is one principal that shouldn't be taken for granted in personal financial accountability, because situations will always come where you will feel the pressure to spend beyond your budget and you will see yourself losing out on your solid financial decision you've taken earlier, however keeping to some of these rules too can be very strenuous in a situation whereby your expenses is higher than your income, so if you earn good wage you can balance your
Financial accountability properly too.

The nature of work and the readiness to take on any job is crucial. Adaptability and a willingness to explore different opportunities can be key factors in navigating the job market successfully. It's a sound financial principle to have savings as an untouchable reserve, because it provides a safety net for unforeseen circumstances, such as periods of unemployment or unexpected expenses. This financial cushion not only offers peace of mind but also allows individuals to capitalize on favorable moments such as market corrections that present investment opportunities.

Planning for the unexpected and being ready to seize advantageous situations contribute to a more secure and flexible financial future. Being prepared for various scenarios, both in the job market and in financial matters, reflects a strategic approach to personal and economic well-being. Remember, investment is passive, and human need to be active to have a fulfilling life.

As someone who worked for a lot of jobs, and I mean a ton of different jobs, for 6 years, and been with my current job for 8 years, it is not about being able to find a job, it's about being able to find a job you love. I can quit my current work today, and get a job a week later, but how would that be? It would be less paid and a horrible job, why would I want to leave a great job with great pay and all the things I love doing it, and go do a job that pays less for a lot more hours and a terrible feeling?

It's more about finding something you love doing, and not about finding a job that would just pay the bills. I believe that when someone finds the job they love doing, then it becomes a lot better, and suddenly you have yourself something much more amazing.

Having to always find a job is not often the case in many nations or should I say every nation. Else, why should we have refugees and homeless people living out there on the street and in shelters when they could get proper jobs, fix and live their life. I get it that at times and for some persons, they are not just in for work or having a job but, one cannot always find jobs out there waiting. That’s why, it’s ideal that for the most that could, they groom themselves to be entrepreneurs and actually provide some of these jobs.

If we look at finding a job in the context of just anything out there with a pay or salary, then we just might find people working and not being able to make anything of their lives. Those aren’t jobs, a work that doesn’t allow you to even afford yourself some basic necessities to life isn’t a job. You ought to work, earn and have some funds set aside from your earnings.

That's why it's important to have financial accountability from a young age so that when we're old we can only enjoy the results. The point is, we can't copy other people's financial advice 1:1 with ourselves, because our needs are all different. What we are trying to implement is how we adjust expenses so that they can be controlled.

the simplest framework for managing finances. No need to calculate percentages, just determine how much your consumption budget is each month. Put the rest into investments. The greater the income, the greater the investment value. Lifestyle does not change, but assets continue to increase.

I remember my mom use to do this too. It was when I saw her notebook one time, only to find out that she is recording everything that she spends. It's only sad that we only realize its importance now, when we are already an adult. If we are committed on recording all of our expenses, it would be better to try and watch out everything that we buy or where we use our money. As this makes the activity sensible.

When we are committed with budgeting, I don't think we will spend above our limits. Except maybe if there are emergencies like we or someone close to us are hospitalized. This is one example of what you said there about unexpected spendings.

Inflation and wage growth of an individual plays very important role in someone's financial management. Let's assume a middle class salaried person with a family of three started working 10 years ago, by that time he could have lead decent life style with his salary but even after 10 years of working and increased salary too the standard of live is far below than how he lived 10 years back because the wage growth is stagnant all over the world while the inflation kept on surging no matter what leads to increase in the cost of living.

That's a comparison that is quite real in the lives of many people, even though each person doesn't know whether something like that also applies in other countries besides their own. Because what you say is very clearly proven in my country, so that those who still work with very ordinary salary standards without an increase can no longer enjoy life like they did ten years ago. Unless they have a side income to cover things that are not enough due to the impact of inflation that continues to occur now.

Now there are many people who no longer rely on their basic salary through routine work every day. So that almost everyone continues to use their time to work in different places, such as opening their own business in order to meet their living expenses and also to be able to save for the future even though everyone is still quite loyal to work in their old place where the salary is still quite standard considering their standard of living.

Most people think they need to earn more money in order to solve their financial issues, so they are always looking for ways to increase their income. What they don't understand is that if you don't solve the problem from it's root, which is financial accountability, you'll always end up poor, with no money, regardless of how much money you make. The sooner you take responsibility of how you spend your money, the better your life will become in the future.

Personal accountability is always very good to plan the next modality in life. You have to accountable to one of the members of your family and that should be your wife. Because if you are not accountable to her then there will be a very big problem but before her, yourself first and make sure you know the amount you spend daily and plan for the next day. And one thing to know is that, how to be truthful to oneself is another issue on ground. Because we do things according to our will.

Many people are not good in investment and they like working for another people to get paid, while others are good to do business and invest from the income they have. Self accountability is the key to success.

Accountability helps guide us towards achieving financial freedom because it gives us the sense of understanding that it isn't everything that we want that we should be getting, we have to focus on our needs and leaves the wants for the future when we can get those things we wants without checking the balance of our bank account. When we're able to focus on our needs we won't waste money on things that won't add to the success of our financial journey. Most people look at what the rich are getting and try to copy them when they're not yet at the same financial class with those rich people.

Financial accountabilities helps give importance to what is more vital in our life and will help us achieve financial independence. Without financial accountability you can't have financial freedom but will be always working for the dollars.


Without monitoring your spending and earnings, you can achieve financial independence. You can be spending more than you're earning and think you'll be able to achieve financial independence. Financial accountability makes you responsible and you can't achieve financial independence without being responsible with your spending.

As many people say, financial ability is an ability that is needed throughout our lives, but is never taught in education. So we need to understand it as early as possible before it's too late.

Because actually managing finances is fundamental so that we can overcome the problem of financial accountability, the next step is to be smart about making money. The problem is, if your mandatory needs are still not met by income, then think about how to find additional income.

You know, as far as I know, there are many people who are making money here in the cryptocurrency business. The problem that others see here is that there is a problem called lack of financial management. In short, there are many crypto-earners here who do not use their earnings properly.

That's why we should be accountable for the profits we get in the crypto space, because if we do it right, it will definitely have good results in the long run when we become responsible.

Financial accountability is very essential in our lives, but most people find it difficult to understand, which is why they do fall victim to not trusting themselves in aspects of money or finances. Because they also know to themselves that they are not in any way transparent with financial resources. This is why many people find it hard to utilise their income effectively, but when you possess and practice financial accountability, I see no reason why you won’t get your financial freedom.
 
But in many teams, people tend to spend more than their income, and in any circumstances, if they are given some money to keep, they will end up using it, which is very bad, and they can’t be trusted. So to me, anyone who doesn’t have financial accountability in their mindset is in a very tremendous situation. And need a solution to his or her problems in order to locate their financial freedom in life.

I use excel these days, it makes it a lot better, plus my bank app on my phone shows every single thing I spent money on, and that means I can take look at it at the end of the month and see what I spent money on as well. I am not saying that it is a great idea, because sometimes the result is that your income is not enough, because you may not spent money on anything useless, and you never lived a life where you are losing money on terrible things, and yet even with spending money on just the things you need, it may not be enough for you.

I am not making enough money to survive these days, I used to make money that was three times the minimum wage, now I am making a bit more than the minimum wage, so of course I have a lot of debt that comes from the past. Sometimes, no matter how much you record everything, the result could be "have more income.

It's mostly about self-control and discipline in my opinion. People often don't spend their money in the right way even if they are the sole earner of that money, where they should take things responsibly and make sensible decisions, they go ahead and spend all their money on things that don't give them much benefit or long-term benefit which means that they don't have the self-control that can make them have their expenses under control and spend the money in the right way and in the right places.

Saving money is not easy for most people, first reason can be financial instability which means that a person who doesn't earn much cannot save money, it's an obvious thing. However, those who earn enough and still aren't able to save any of it are irresponsible spenders and they don't have any discipline when it comes to financial management.

There are constraints by personal finances.  One of the main reasons is not keeping track of your spending.  Improper use of money.  Cannot reconcile income and expenditure.  Everyone should keep a precise account of his income and expenditure at the end of the day and judge himself at the end of the day.  No one but you can stop your reckless spending.

If you don't have a record of spending and don't use money where you really need it, you will have financial problems and whatever income you have, if you can record it and spend it on what you really need, this will be enough for the income you have, but if you don't have financial records and spend on necessities that we don't need, then we will have financial problems and the income we have will not be enough.

Yes, by having financial records we will be able to see whether we have used the income we have appropriately or not and if we look at the financial records for things we don't need then we will be able to correct them so as not to repeat the inappropriate use of money.

Without financial accountability to oneself it'll be very hard to avoid poverty, and unless someone is very disciplined and prudent in spending bellow their income, it'll be very difficult to minimize expenditures and have savings to invest for old age. So after gaining all the knowledge about financial accountability and knowing the tips to see that it materializes, without discipline to apply them, it'll all be a waste, so discipline is integral to financial accountability and freedom.

This is very simple, without knowing exactly where you are spending your money, you cannot cut down your budget and get rid of the superfluous expenses and then invest that money in assets which can bring you profits over the long term, over the years I have met a lot of people like that and the worst part is that despite their own claims that they are bankrupt, they refuse to look for any solution other than to try to earn more money, which does not solve their problems because as soon as they earn a little bit more they increase their consumption on the same level.

We have to try to reduce our expenses. If we reduce the expenses and invest that money somewhere, it can be useful for us in times of danger. If we always save money and then spend the money, I will not be able to save any money.  To save money, we have to calculate and spend money all the time, it will reduce our expenses and I will be able to save a lot of money.

Don't let your expenses outweigh your income. Actually, indirectly we will definitely realize this from the beginning, but there are certain reasons that make them do something that makes their finances worse, both reasonable and unreasonable.
Many people are extravagant for no apparent reason. I have experienced this, when I had money I didn't know what I was doing so unconsciously quickly the money I had ran out without any goods that I could have. I quickly realized that what I was doing was a big mistake which if I didn't fix it quickly then it would bring disaster to me. From there I started to manage my finances, although at first it was still a mess but gradually I was able to do it better.

A very profound phrase for me. Indeed, there are many alternatives that can be taken for old age later, I think managing finances inappropriately, especially if the money is not running or not developing (business, business, and the like) it will run out by itself just waiting for its time, so if it is possible for us to have a lot or little money, it is important for us to update our knowledge about money and how to get more, such as business, investment, trading or others, the most important thing is to have a minimum source of income relatively. That will help in everyday life because nowadays it's all about money.

I was a little luckier, I started reading books about financial literacy, even before I started earning anything, I was very young, but even then I wanted to become rich. Almost every book talked about how important it is to create capital, and be able to manage it competently, and that we should save at least 10% of our earnings.

So when I became a teenager and was able to start earning money, I saved as much as I could, it became a habit for me from an early age, and it's easy to do when you do it consistently. If you want to spend more, then just strive to earn more, it’s not always easy, but there are always opportunities for this.

Agree with what you said that personal accountability is quite important nowadays. Someone needs financial accountability to be able to control how their expenses and income flow, debt management, investment, financial planning, and various other aspects related to this. Financial accountability makes someone more responsible for their financial condition and it can prevent them from making wrong financial decisions, see how their financial condition is developing, and reduce financial difficulties. Someone who does not have personal financial accountability tends to be more wasteful and they cannot track their expenses and income so this will be quite risky for their financial condition in the future.

That's absolutely right, we are in control of our own life and nobody else. There is no point in cheating ourselves, because it's only going to hurt us in the long run. I have been in that situation myself so many times where my brain tried to play tricks on. Whenever I see the newest generation of graphic cards, or a cheap deal on a new monitor, then my brain tells me we should upgrade my PC system at home. There is no real need for it, my current PC is running fine and will not be replaced. It's just my brain trying to make unnecessary purchases seem important. Which is why financial accountability and responsibility is so important. Only with a clear head can I remain in control of my money and invest it instead of spending it.

One thing about wealth and its sustainability is for one to have an innovative mindset not just acquiring that wealth but learning how to put them into good use and how they can be multiplying over time.

the struggle to earn and make a living does not just end on todays bills but it’s also extend to what will be of the person in future if they stop working today do they have enough cash put into good use that can regenerate over time? This is the kind of thing one should focus on after fulfilling its pressing needs.

A person's financial success depends on his financial education or knowledge. Every person should have a personal responsibility. Which can become very important for a better life in the future. Moreover, financial responsibility can give our future generations a better life.
Not everyone's financial success is the same. It depends on individual or family differences. Because if the previous generation passes the financial success to the next generation i.e. if they can manage their money properly and give something good to their children then that child will achieve financial success as the previous generation. Therefore, the money given by the previous generation should not be wasted.

Investing in the world of cryptocurrencies must be done slowly and step by step. DCA method is very important in smart investment which will provide sure protection for our money in future.

It tough to stay consistent, and that's totally relatable. Life gets busy, distractions happen, and suddenly, your expense log is as empty as a donut box on a Monday morning. But here's the thing: even a few days of tracking can reveal surprising patterns. Did you know those "small" coffee shop visits add up faster than you think?

Plus, the "I can replace it" mentality, while admirable in its hustle, can be a slippery slope. Unforeseen expenses have a knack for popping up like unwanted guests, and before you know it, your emergency fund is doing the Macarena.

The magic lies in balance, my friend. Tracking helps you understand where your money goes, empowering you to make informed choices. Like, maybe skipping that extra latte frees up cash for that investment you've been eyeing. ☕️ Tracking also helps you celebrate your wins! Seeing your progress towards goals can be a major motivator, like finding the hidden treasure map at the end of the adventure. ️

"Wealth" means you do not have to ever worry about bills again, even if you only put it on savings account and get something minimal, hell you could just put it in the bank and spend it directly without making a dime and still wouldn't need to worry about it.

Obviously, it is not going to be all that confusing and should be something that will benefit you one way or another, but that doesn't mean that you are not going to end up with anything that would be profitable for you if you stop earning, so most people keep earning. So if you reach the "wealthy" level for yourself, you do not need to figure out a way to keep growing that, it would be lovely and you should try to grow it but not because you need it, because it makes sense.

Well this is one of the things we can do, books are the window to the world in everything including in terms of finance. Many books contain good and correct financial literacy, we can read it there. If we don't really like reading, then now we can see it on YouTube for example, many content creators who present content about financial literacy.
I am personally situational, if I have free time, then I will use it to read, yes even if only a little. I also watch the content, usually I watch it just before bed. There are many lessons that I can get from it, how it can change my view to have better financial management.

Probably the best kind of advice because it helps you not just in finances but also your personal life, it helps you become a person that will be aware that they're doing something wrong and that they're not being stupid and stubborn about the wrong things. Know thyself is a thing that we all obviously should learn about but it seems that people forget about it and end up not learning it as they grow up.

I do not think that people actually "do not" know themselves, but they rather deny the fact that they know it. Like for example if I am the type of person who others would say X, and I know that I am X, but I deny it and that makes me not really work on it to get better.

Most traders have this, they are aware of the problems they have, and instead they blame the market or the whales or the big players or whatever. Don't do that, be true to yourself, realize that you are a human, and all humans have shortcomings, mine could be X and yours could be Y but in the end we all have something we do not do right. And in that regard, we can never be perfect but the best we can do is wake up, and try to be better that day then the previous day.

knowledge is easy to get and most persons have knowledge of best ways of going about things but when it comes to the ability to applying it, thats where the problem lies.

Even while you're spending, your mind would tell you to be careful about it but its always very difficult to listen to your mind at the moment and if you're not disciplined enough, you will decide not to spend above a particular limit but would not be able to regulate your spending because of the urge that propels one to satisfying the immediate want at that moment.

Being financially accountable and responsible entails you to be very discipline and matured with what is outside your budget and plan for a particular period of time. You've got to train yourself to know when to get the right thing at the right time under the right condition if not you're going to be reckless with your spending.

Everyone knows what to do  Knowledge? Overflowing. Application? We've reached a wall. Financial discipline, not rocket science. You're suggesting being "careful" with spending as a friendly reminder. Not so. It's a financial stability command. You treat discipline as a to-do. Full list. Financial accountability requires persistent, mature decision-making, not just restraint. Indeed, it's difficult. However, guess? The wealthy are distinguished from the poor by that. Rethink your strategy. It doesn't take "training" to know when to spend. It's about reducing spending temptation. Tools, rigorous budgets, spending tracking. Prevent, not react. And remember, this is about your future, not just saving money. Take it seriously, think smart, and start

Certainly truthfulness is the key factor of success for anybody that want to soar high in life. Most people don't know the importance or how effective truthfulness can be or the role it plays in making a career to be a success. Most entrepreneurs because successful due to how plain and polite they are to there customers and that was he reason behind why dey still stand at the top.

You have just said it all. Mindset plays also an important role In becoming successful In life. We are the product of what we think. Whenever we thinks bad we are often exposed to bad things and we become mute because our imagination makes our illusion to become a reality of negative results. But if we think positively always and work towards it we shall see the result of positive mindset. Could you emagine that some people can never and will never believe that they can make money online? And mediately that mindset is in you, no matter any important offer given to such person he sees it as scam because of mindset but when you believe and accept something even if you don't know them, you stand a chance of succeeding. Because life is not just how people sees it.

I agree, financial accountability is key. It doesn't matter how much money we make if we can't manage it effectively. For example, I find it helpful to track everything I buy. This way, I can see where my money goes, and sometimes I'm surprised at how much I spend on things I don't really need. However, it's important to strike a balance. Saving too much that we neglect our happiness isn't healthy either.

I think the main factor is desire, but at least if it is implemented well it is a solution in managing finances, especially for individuals and if for example we are married. On the other hand, although not in all places, the phenomenon of economic inequality and also access to financial resources can also be an important and very pronounced factor in individual financial difficulties and cannot be denied either.

If you look at the desire to manage finances, almost everyone wants a good way to do it because it has become a very good initial solution for everyone. But in terms of managing finances between unmarried people and married people, it will certainly never be the same and will always give rise to differences even though every decision taken is for the good.

The difference that we can see in the way of managing finances between unmarried and married people is in the way they meet their daily needs which are very common, they must always be there and must not be late. Because married people will prioritize the amount of savings they save for themselves rather than what they consume each day.

That's right, if the person's personal finances are managed correctly. Because there are many people at this age who earn a lot but are unable to accumulate savings in real life. While others earn little but are able to save savings. There is a system or behavior that is applied as to why people are able to save money compared to those who are educated or earn a lot and have zero savings.

That means it's really a matter of self-control and self-discipline in order to do proper financial management. The virtues that I have mentioned will contribute a lot to any aspect of the business that we do.

People do not learn about finance and whatever amount they earned are all spend by them without planning so I think if they make a plan from start and do everything according to plan then they will be successful individuals in future which will also put good effects on their next generation.

People when earn huge amount never think about saving because they are not facing troubles but when inflation happens then they think that whenever the situation become favorable they will start accumulating money and will spend less amount for daily uses but all planning are useless then.

If someone understands the value of saving early will save lots of money and his financial status will not be effected by inflation but if he does not learn about handling finance then their is a probability that his time during inflation will be hard.