The right money mentor can help you achieve your financial goals

You know that friend in your life who is a truth teller, the one who will tell you that you need to walk away from that relationship or anything else that’s unpleasant? Well, same goes for your finances. You need a mentor, an accountability partner.

No doubt, this is a special someone.  It could be a friend or relative, for example. You should feel comfortable telling them the real deal about your finances and respect their opinion.

So, how to choose?

Be selective: “If you are trying to cut down on your spending but your accountability partner loves to shop at the mall, you will be setting yourself up for failure,” says Steve Repak, a certified financial planner and author of "6 Week Money Challenge: For Your Personal Finances." The bottom line: They should have their own finances in order.

What matters most? Knowledge counts. At the end of the day, you don’t need to hire an expert, but you do need someone who knows more than you, says Repak. Set expectations. Will the person be able to invest their time in you, to be able to help you set, review, and eventually reach your goals? Check their temperature. Not literally, but consider whether they can encourage and be critical.  You need a coach who is good at both to succeed. Mostly though, it comes down to commitment. Says Omid Natan, director of the West LA Financial Center, in Los Angeles, “The number one ingredient to make sure that the relationship goes well is to make sure both parties build and maintain a relationship that is not short-term.”