Financial Leadership.
Drop the shoulder pad
fueled by your proficiency in people management and renege on your ego boost
from having your activities in perfect order. It is now a recurring trend for
young people to pronounce the effectiveness of their leadership skill at any
chance they get. A good number have backed up their claim by directing a number
of people to achieve a specific goal. This is good display of leadership, however,
being a leader doesn’t start with influencing people. Before you can achieve a
balanced and successful leadership character, you have to learn to lead
yourself.
Your ability to
influence every aspect of your life in the right way defines the extent to
which you can consistently lead others. We have leaders who have succeeded in
coordinating people but their personal finance has been marched in a mash.
Being a leader requires you to be intentional, coordinated, visionary and
active. Many people apply this in their work place, community project
governance successfully and leave their finances to operate passively.
I define leadership as
identifying a goal and mobilizing all available resources (human and physical)
effectively to achieve it. Financial leadership can be related in this context,
it involves identifying a financial goal, and mobilizing your resources to
achieve the goal. Many people have career goals, spiritual goals but do not see
the need for a financial goal. Why do we have goals? To stay focused, organize
our steps and define our direction.
If you don’t want an arbitrary financial life
that oscillates with times and seasons, you have to define a goal. People just
want to be rich, being rich is not a definite goal. You should be able to define
your financial sustenance plan. What properties do you intend to own? how many
companies will you control? What size of salary do you want to retire on? What
is your net worth value aim? The answers to this questions will guide your
spending and actions day in day out.
A person with a clear
goal in mind will find it difficult to be profligate in spending. With a goal, it will be easy to make
effective deliberate plans towards it. The other part of leadership is
mobilizing resources. It is easy to make reasonable investment plans when you
are practicing financial leadership. Rather than being subjected to mood swings
as a result of availability or non-availability of cash, you will be stable and
in total control of every cash that slides into your hands and direct it
towards your goal.
Just like leading
people requires full engagement and intentional steps, for financial freedom,
you need to be fully engaged in your financial life. You have to move from
equating your spending to your earning, impulse financial decision to paying
attention to details, monitoring the inflow and outflow from your account and
directing your resources to your financial goal.
Taiwo Oyedamola is a writer, social entrepreneur and a graduate Economics Student. She specializes in helping young minds identify opportunities and bridging gaps to their possibilities.
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