Money and success often go hand-in-hand, even if your dream is selfless you still need something to live on! Here’s why managing money is vital to success!
It doesn’t matter how big you get, or how much money you make—every Career Girl knows that you’ll never be truly successful until you learn how to handle money. Why?
It Gives You Options
Money is a subject that a lot of people shy away from, but the reality is that when you’re managing your money successfully, you’ll have more options. Be it travel, taking time off from a job you hate or taking advantage of new investments, doors open when you have the funds to take advantage of opportunities. Read our article on managing money in your twenties if you need a hand.
Let 50 Cent Be Your Example
“But I could just hire someone to handle my money!” you cry. But not every banker or accountant is rich, and they all get paid a salary to manage your money. Better for you to know what’s going on with your finances so that you don’t have to rely solely on others. Think of it this way: Multi-million sponsorship deals, 21 movie appearances, and 8 million album sales rocketed 50 Cent into fame and riches. But his decent into bankruptcy has been just as swift, due to poor money management. This is a man who most likely had a team of people managing his funds! It’s proof that even a net worth of $155 million can’t help you if you don’t know what your finances are doing. It’s easy if you follow the 50-20-30 rule we wrote about here!
Your goals are only going to get bigger
If you’re reading this, chances are you’re a 20-something ambitious badass who’s carving her own course, with goals of her own. Maybe some day you want to own a business, and to do that, you need start-up capital. That’s a great goal! One day hopefully you’ll achieve it—and then what? You’ll want to franchise, expand, and re-invest your profits. All that will take a more complex understanding of how to use your funds. Money management is never going to be separate from your success—so if you’re reaching for bigger and better, you’re going to have to learn how to balance the books, fast. Find out if starting a business is for you and then read one of these four money management books to get clued up!