Financial Floating Manager

Posts Tagged ‘Financial’

You may ask why it is important to have sound financial management. The benefits of managing your cash correctly is to make sure that you control your spending and also be able to save enough in order achieve financial independence in the future.

Having financial goals help you to be focused and disciplined. Set long term financial goals and put them down in writing. By setting goals you prevent yourself from squandering your income and trusting in luck. As you set these targets, make sure they are measurable and achievable. Have a specific aim that will enable you calculate what you intent to achieve, how much you will be required to save or invest monthly and where you are planning to invest what you will have saved.

Review your progress periodically so as to note where you need to make adjustments and hence chart your financial growth. This way you will be in a position to know whether you are lagging behind or moving ahead.

Once you have the long term targets in place, set short term goals that will help you move closer to financial freedom. As you do your monthly budget, make sure it is connected to your long term goals. This is necessary if you are to remain focused and disciplined in managing your finances. Checking your budget will help you adjust accordingly depending on your monthly income.

Personal financial management calls for a lot of discipline if one desires to attain financial freedom. Consulting with experts would be advisable in ensuring you set achievable goals.

A financial management plan helps you organize your finances to help your money grow. It also gives you the flexibility to make choices on how and where to invest your money. When you have a plan you will be able to spend your money wisely. Your plan should be able to generally be able to help you with your cash flow. The overall management of your cash flow involves evaluating your net worth after deducting what you owe. This will help you realize if you are making positive or negative financial progress.

Create a budget and stick to it. You will be in a position to promptly pay off your debts and be able to assess your spending habits. It is also advisable to include a control system in your financial management plan. This is put in place to be able to identify and avert errors as you go about your daily duties. This means that it is necessary that you should have specific guidelines when you are operating your business.

Your main priority when you are managing your finances should be to save. Do some research and get advice from a qualified financial expert on where to invest the money you want to save. It is advisable to invest with the intention of getting higher returns. Go for a solid investment and practice discipline. These are the savings that will bail you out should you face any extreme problems. Your financial management plan should also be able to accommodate taxes. This is an unavoidable area that is forgotten by many people. You should have a strategy of how you can get the most out of it.

A retirement plan is an essential part of financial management. This is the very reason you are organizing your finances, so that you are able to enjoy the years ahead. You will have no financial worries in your sunset years. That is what they will be like when you plan your finances strategically, full of sun and fun.

How many times have your heard: Money is Power? Plenty, I bet.
But, Power is not always about money; bearing children is more powerful than money, more powerful than knowledge. Frankly, procreation of a species is the most powerful position in any society, any living organism.

Here’s the irony…the most powerful gender has in fact historically had the least amount of control, entitlements and freedom. Clearly women were viewed as threatening. And, the dominator rather than the partnership model for the most part has driven societies. The partnership model requires collaboration, cooperation, and is supported by inclusiveness rather than focusing on the differences between entities. The dominator model is very self focused and thrives on competition creating a singular winner verses team victory.

Is it any surprise then that some of the most famous women in history, who had power, had an untimely death.
All of our societies have been shaped by men evoking spiritual powers emanating from ritual knowledge that then crossed political means, creating and fostering male bias. That male bias has marginalized women throughout history.

So, it’s not so much that women have financial concerns as much as the root of disproportionate power that then gets displayed into the arena of money. How do women manage their shame about money when the underlying issue is about ultimate control, a lack of entitlements and the fear of loosing their current freedoms?  Reducing the financial shame is the benefit of building self-awareness. Gaining actual tools for financial concerns is a step in the right direction.

Financial workshops for women are few and far between. Having debt elimination tips only deals with the surface. To achieve true financial stress relief, one must dig under the surface.

Sometimes financial management workshops will include a section on how to pick a financial advisor for women. These suggestions often make me wary because of the inherent gain a financial planner might garnish. Whereas hiring someone who is remunerated not by commission, but by retainer I think makes better sense.

But, a financial advisor for women really needs to understand what is going on under the surface. Long term financial management women will very often understand the issues faster than their male counterparts….but, as I call it: “Bankspeak”, is not a relegated to men only.

Understanding the premise that one’s self-esteem can be directly connected to one’s handling of money, the only way to gain financial stress relief is to heal the underlying damage. That takes courage, honesty and accountability. This is the best financial problem solution for women.