While teaching a class on project leadership, one of my students had a great story that reiterated the point that it pays for a leader to be financially sound. While working with an executive recruiter, my student was made a very nice offer to go work for a company she had heard quite a bit about. However during the interview process, something began to nag at her conscience regarding her future employer. She asked the recruiter if there was anything she should be aware of that wasn’t already discussed. The recruiter told her that he always thought it was wise to put aside a bit of her salary every month, and that in the event she ever felt she had to leave a company, she would have the financial security to do so.
Well, my student was thankful that she listened to his advice. A few years later she was put in a compromising position that she felt was unethical. Instead of trying to decide what to do based on her financial stability, she decided to leave the company, knowing that she was doing the right thing, AND knowing she had enough money in the bank to allow her adequate time to find an employer that may be a little more ethical.
To be free to make the right decisions, leaders need to be financially sound. This doesn’t mean that we won’t sometimes make mistakes in our financial decisions. What is true though, is that a leader will be fiscally responsible. Not spending beyond their means and budgeting their finances responsibly.
Being financially sound also allows for less stress at home, more money to give to a charity and also a better nights sleep.
Are you financially sound? How do you know? Do you have someone you can turn to for financial advice? Start taking care of your finances. Create a budget and long term plan for financial success. You won’t regret it.
All the best,
All the time