Today is National Boss’s Day, a day in which you’re supposed to honor your boss for his or her leadership.
That’s all fine and good, but what are you doing to honor yourself?
After all, you are the boss of your money. You are the chief financial officer in your family.
It is your duty to be the best boss of your money that you can be. After all, no one cares about your money as much as you do. Don’t believe me? Try losing your wallet and you’ll see what I mean.
Be the boss of your money
In order to effectively manage your personal finances, you need to embrace the same qualities that a good boss has:
Leadership. Take responsibility for the decisions you make – whether they are good or bad. Set a good example for those around you.
Knowledge. If you don’t know something, ask. Do some research. “I don’t know” is not an excuse for poor financial management.
Hardworking. You must be willing to pull up your sleeves and work just as hard as those around you. You should understand how every aspect of your household finances work, even if you don’t manage the day-to-day stuff like clipping coupons.
Honesty and integrity. The best money managers are honest about their finances and act with integrity in all of their dealings.
Humility. Willingness to admit mistakes and to ask for help when you need it.
Risk-taking. A good boss takes calculated risks. You can do the same with your money. Do your homework, determine the worst thing that could happen, and take the leap. You just may be pleasantly surprised.
Empathy. Some of the best bosses I’ve ever had have been tough, but empathetic. These were the people who would fight like mama lions protecting their cubs when it came to a cause they believed in. They were generous with their time, with their money, and with their hearts. Be a good financial boss and share your wealth – either by sharing what you’ve learned or by giving money or time to causes you support.
It is not easy to be a leader. It is not easy to be in charge. But when you become the boss of your money, you empower yourself to do better. You can start to get out of debt. You can start to build wealth.
Take the lead.