Financial Leadership is giving your money PURPOSE and DIRECTION.
You are the C.E.O. of a corporation. You need a team to fulfil the vision of your company and help execute the purpose of the company. Therefore different roles need to be established. You will need a marketing, an admin, a legal, a sales and a maintenance department. Each department will have a key function and task to perform to keep the company fully operational and in turn make the company profitable. So what you are seeking to do in financial leadership is guiding your money to what it ought to do.
In order to give your money PURPOSE, you need to know that you have purpose. And if no one ever you told you before, know that you matter. Your genetic makeup, your intelligence, your personality; who you are matters. Having understanding of your purpose guides you to make strategic decisions with your money.
Please allow me to use myself as an example. It became clear to me that the financial crisis in 2008 affected many. I knew that I had something unique to offer. I loved numbers and I was naturally a teacher. I could teach many to be wise with their money. To sharpen who I knew I was, I attended a counselling course to upgrade my speaking and the delivery of my information.
Seek to set goals that will equip you to accomplish what you set to do in this lifetime. That’s what giving your money PURPOSE is all about.
It became easier for me to budget when I had clearly set out goals to accomplish. Giving my money DIRECTION (budgeting) meant I had to ensure the way I spent my money was leading me one step closer to the target I set.
For example, if your goal is to save for retirement, you would not opt to not save your money. You would set that money aside for future use. Think of it this way. If you don’t do this; you are basically stealing money from yourself in the future. Let that sink in for a minute.
Remember, what you do with your money matters. It should matter to you and it certainly matters to those who are closely watching your every move; and I do mean your loved one, your significant other, your spouse and definitely your children.
How are you showing them that money matters and what they do with it matters?
Are you setting an example worthy of following?
I am not saying you need to be absolutely perfect, but know the decisions you make could affect the financial future of those in your care and those in a personal and business relationship with you.
Won’t you consider this in closing?
Money is a very valuable resource. Why not acknowledge its significance and importance by implementing the principle of Financial Leadership.
Melinda Belle is the personal finance strategist of Money Matters of Melinda, a series bringing transformation to your money life through information and inspiration. She sees her role as that of an architect and is committed to shaping the financial landscapes of people, businesses and nations by teaching families and individuals how to manage their money and create wealth. She can be found online at Astrape Finance.