Knowing How To Learn, Lead, And Live Like A CFO Or CFO

We all hear about CEO’s and CFO’s in the news, but have you ever wandered what it would be like to be one of them? If you had the opportunity to manage the funds and decisions of a multi-billion dollar company, do you think you could do it? What about a smaller company with funds closer to what you currently make every year? If you have never thought about it before, you already fill this role in your life.

The CEO/CFO Mindset

In a previous post I discuss having a CEO/CFO mindset for your everyday personal finances. Much like the CEO’s and CFO’s we hear about in today’s markets, you are responsible for managing a small business. You may be an actual business owner, but I am referring again to your personal finances. This is a very important concept to understand while you are moving through your financial journey.

Making The Tough Decisions

Much like a business will grow, so will your finances. You will have to learn how to manage additional debt and investments as they become a part of business structure. Yes, you heard me correctly, additional debt. As most of us have learned, debt is a four letter word we should avoid. Unfortunately, avoidance is not always an option. Similar to some businesses, you may have to take on additional debt. This debt can be a result of need or through a strategic move. In either scenario, you will have wear the CEO/CFO hat to make the decision for your finances. Again, similar to other business models, there are often more than one leader. Thus, if you have a spouse or partner, you would need to come to a mutual decision with them before making a decision.

Understanding Your Not Perfect And Your Not Alone

Some of the news articles we hear about these business leaders are about radical decisions made for the company. These decisions can have devastating consequences or amazing results. It is important to keep in mind that these leaders are often taking risks with these choices. This is a great similarity for what you will see in your personal finance life. You are not perfect either. Bad decisions are going to be made about your finances, but good ones will be made as well. Take the decisions you make in stride. If you surround yourself with others who are working through a healthy financial journey, they can act as a board of director when you are making very difficult decisions.  Learn from your mistakes, and revel in your accomplishments.

You may never get the opportunity to manage and run a large company. However, you will always have the job of managing your own personal finances. You are the CEO/CFO of your finances, and your company’s future is dependent on you!