Think As Inc

Money Matters

September 22, 2009 on 8:30 pm | In life coaching | No Comments

When I was young I used to think that money was the most important thing in life. Now that I am old, I know it is. - Oscar Wilde

Did you read that and think Wilde was too cynical?  Should he have acknowledged family or community or accomplishment?  Should you focus on following your dreams, and money be damned?  Well, dreams often require money.  Certainly if we didn’t have to work for money we could work exclusively for our dreams.  So, in that way, money gives us time.  Furthermore, if we didn’t worry about money we could focus that energy towards our dreams.  So, in another way, money gives us energy.  Thus, money matters:  it provides the capital, time and energy for our dreams.

Everyone earns, spends, and pays taxes.  Therefore, everyone needs to understand money.  If you’re a creative, that is no excuse for not mastering your money.  You still need to understand royalties, licensing, and pricing.  If you’re a finance professional, you still need to master your personal bottom line.  Are you as good at cost-cutting at home as for your employer? 

If your life is your business and you are its CEO, then money matters.  It is not greedy or superficial or wrong to appreciate money.  Your bottom line deserves time and attention.  You need to know how much you’re taking in, how much is going out, what is left, and how to make whatever changes necessary.  You need to know what your product is worth and how to price it and sell it.  You need to know how to allocate your money to the different clients in your life.  You need to put money aside for branding, research and development, and all those easily overlooked investments in yourself.  There is a lot for you to do with money and a lot that money can do for you, and the first step is to just admit that money matters.