How Leaders Can Take Control of Their Personal Finances

Business leaders tend to be good at many things, but they’re not always good at staying on top of their personal finances. Of course, it’s not that they lack ability; it’s just that they get caught up in their business finances, which aren’t quite the same thing. I think a lot of entrepreneurs, executives, and other high-producing leaders would benefit from pausing to focus on their own specific financial situations.

Getting On Track with Personal Finances

Yes — but how? This post certainly isn’t meant to be a comprehensive money management course, but I do have a few particular suggestions to make:

Be clear about your goals. What exactly are you trying to accomplish? To retire early? To retire well? To put kids through college? To get a sports car and a boat? To attain a certain lifestyle? Simply to have financial security? Know what it is you are trying to achieve with your personal finances.

Remember that money is a tool. Along similar lines, remind yourself that money isn’t something to acquire just for the sake of it — you want to do something with it, and it’s important to know exactly what that is.

Consider all your income sources. Are there different ways you could be generating money — whether through investing…