You are sometimes only as good as the company you keep. That pertains to the type of people you hang out with in high school – if you hang out with troublemakers, you’re more likely to get in trouble. It also holds true for the type of people you gravitate toward later in life. If you surround yourself with spenders, you’ll probably become more of a spender too.

By finding one good money buddy, you can dramatically change your finances. A money buddy can be anybody – it can be your elderly neighbor, the guy you lift weights with at the gym, or a co-worker who seems to have their act together a bit more than you. It can even be someone online that you’ve never met.

Think about it, people tend to lose more weight when they have a friend cheering them on. They can save more money that way too.

Here is how a money buddy can take your game to the next level.

You’ll Each Bring Strengths to the Relationship

Maybe you understand the ins and outs of IRAs way better than your money buddy does and they are a whiz at finding ways to eat cheaply. By cashing in on each other’s strengths, you’ll be unstoppable.

They’ll Keep You Accountable

Make sure your money buddy knows what your goals are and you know what their goals are. That way you can keep the fire under each other’s feet. You should have a weekly or monthly meeting, whether it’s in person, over the phone, or through email or text.

See how you’re each doing on your goals and give each other the encouragement and feedback you’ll need to do even better in the future.

You’ll Have a Frugal Friend to Hang Out With

If your money buddy is someone you see in real life and don’t just chat with online, you’ll have a friend you can socialize with who won’t expect you to spend a lot of money while doing activities. They’ll be watching their money just like you are.

They’ll Tell You About Deals

Your ordinary friends won’t get too excited when you tell them about a great deal you’ve found at a store. Your money buddy though will hang on your every word. Nothing will excite them more than the idea of saving some of their hard-earned cash so they can reach their goal.

You Can Add Others

If one money buddy is good for you, maybe you should branch out and add more. You can make your own money group. You can easily create a forum page on Facebook that will only be accessible by the people in your group.

It’ll be nice to add more strengths and areas of knowledge to your group. It should help you get to your goal that much faster.

You’ll Have a Friend to Celebrate With

No one will understand quite like your money buddy how excited you’ll be when you reach your goal. Because they’ll have walked every step of the way with you, they’ll know how much it means to you. You’ll have someone to uncork that sensibly-priced bottle of champagne with.