Leadership is often thought of as an innate skill that we apply to our professional and personal lives. We often view leadership as a way of guiding other people in those particular settings. You may view yourself as a business or industry leader. Maybe you’re the leader within your family, or in your circle of friends. You offer advice and expertise to these people as a way of helping them overcome obstacles, make decisions, and more.
But if you turned the magnifying glass on yourself and your own life, what would you find? Do you follow the advice you give to others? Do you lead by example?
Money is a key area where leaders often struggle. That’s because our finances tend to be rooted in a deep emotional attachment to our money beliefs, conditioning and habits. When we aren’t leading our money, our money is leading us.
The Importance of Being a Money Leader
Fortunately, changing your mindset to be a money leader isn’t difficult. It does require some effort on your end, and it may take time; but it’s achievable. So what does it mean to be a money leader?
Being a money leader is knowing yourself, your financial life and striving to grow and/or improve every day through your decisions. It’s critical that you create this solid foundation of financial savviness before attempting to lead others, whether you’re commenting on their financial lives or not. When you’re in a “bad space” financially, the rest of your life and your decisions will reflect it. To lead from a place of strength, you must focus on the finances of your own life and business.
When you don’t have a handle on your money, you start making decisions from a place of fear. This impacts both your ability to grow personally, and your ability to lead in any setting. Your skills as a leader will suffer if you’re unwilling to lead yourself to a place of financial stability. On the opposite side of the argument, if you make the decision to invest time and energy in learning to better manage your money, you’ll see your leadership effectiveness grow.
Having a handle on your finances can boost your leadership in more ways than one. You’ll feel confident in the decisions you make for yourself, which will spread into the decisions you help to make as a leader. You won’t be leading from a place of fear or constant worry. Being in a bad financial state of mind has a dramatic emotional and psychological effect. By moving forward with improved finances, or a plan that will help improve your financial situation, you’ll be leading as a confident and more secure individual.
Unfortunately, singularly focusing on leading others in this area of our lives won’t cut it. It won’t lead us to the success we want, and it won’t allow us to reach our full potential as individuals. To be a money-minded leader, we need to turn inward. We need to honestly evaluate our financial goals, and our plan for achieving those goals. We must pinpoint our areas of weakness and address bad spending or the lack of a savings habit.
Leading Yourself to Financial Success
The good news here is that you’re already a leader! You already have the skills necessary to take the steps to having a financial plan and leading your money, rather than having it lead you. You are unique in that you have an intrinsic source of motivation in which to tap. You and you alone have the drive and the power to restructure your financial life. Your ability to self-lead is the key that will unlock a financial future filled with achievement and growth.
Here are a few steps that can be taken:
- Be honest with yourself. Don’t cover up past financial mistakes or bad habits.
- Clarify your goals and priorities. Sometimes just reminding yourself that you have these goals – and that you can achieve them – is motivation enough to move forward.
- Create a financial plan that moves you towards your goals. This step isn’t easy, and finding the motivation to execute your plan will be even harder. Just remember: you have the power to lead yourself to greatness.
Making the decision to be your own money leader is a big step. Of course, it’s also helpful to work with someone who is already a leader in the financial planning field. When I work with financial planning clients, I follow a 7-Step plan to help them reach financial success. From initial inquiry to ongoing financial check-ups, I work to empower you to become your own money leader, make smart decisions, and reach your financial goals.
Feel free to contact me for a no-obligation initial meeting. I look forward to connecting with you.